The top 3 trends of tech that investors need to know - Martin Migoya
(Kitco News) - Three trends will define the future of technology, said Martin Migoya, CEO of Globant: artificial intelligence (AI), the metaverse, and Web 3.0. Migoya also said that digital currencies can help instill "discipline" in central banks.
Globant is an IT and software development company with clients like Disney, Google, and Electronic Arts. Migoya spoke with David Lin, Anchor and Producer at Kitco News, at the Collision 2022 conference in Toronto.
Migoya said that he sees promise for AI in every sector of the economy, from finance to healthcare to automotives.
"In the automotive space, the self-driving capabilities of Tesla are already showing," he said. "There are many industries… AI will go in pretty much any industry."
Tesla's CEO and Founder, Elon Musk, has expressed concern about AI's application in the military. In 2017, Musk signed an open letter demanding that the United Nations ban the development and use of AI weapons.
Migoya responded by saying that the idea of killer drones attacking humans is a concept from the movies, and that he doesn't think it will happen.
He also said that AI won't cause unemployment, but would change it.
"I think [AI] will create new jobs," he said. "It will replace and dignify a lot of jobs, making them more efficient."
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"The Metaverse is what our kids are doing today," said Migoya. "They're playing games in universes, they're playing [video] games in 3D worlds where they walk and shoot and they run… with their avatars. And those worlds, where they walk through, are empty. The Metaverse is an instance in which those worlds will have an Amazon store. Those worlds will have a Netflix cinema. It will have a disco to go and meet your friends, and listen to music."
He explained that the Metaverse does not need to involve a headset or 3D device, but rather that consumers will be able to navigate from one metaverse to another "in a seamless manner." Although Migoya was confident about the metaverse's potential, he said that the technology is still in its early stages, and it is too early to tell how it will be adopted.
Central Bank Digital Currencies (CBDCs) and Inflation
Migoya said that central banks are too beholden to politicians, and that a "digital dollar" can help impose fiscal discipline.
"When governments are not disciplined, they spend more than they should," he explained. "So [the governments] solve this by calling the guys who print money… and [the central bank] will print X amount of millions. And that creates inflation, and inflation is a tax on people who have less."
He went on to suggest that if the ability to print money is taken out of the hands of politicians, and invested in a set of rules, then this could prevent inflation and promote sound money.
To find out Migoya's views on the gold standard and the Bitcoin standard, watch the above video.
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