- There will still be a need for labor in an automated world, especially when it comes to labelling and tagging data, Mark Cuban said at a Lerer Hippeau Ventures' event
- However, President Donald Trump creating factories for manufacturing does not prepare the workforce for the future, Cuban added
Mark Cuban believes automation is inevitable, but that doesn't mean that blue collar jobs are going away.
Instead of manufacturing, workers will be doing more data-related tasks, like labeling and tagging information.
"In order for machine learning, deep learning, etc. to be effective and work the most quickly, the more data that is tagged and defined and labeled correctly the quicker everything goes," Cuban said at the Lerer Hippeau Ventures CEO Summit in New York on Tuesday. "The equivalent of low-end skilled labor today... will be labeling and tagging data."
"It's going to be the job of the future," he added.
However, the current way factories are being built and the emphasis on traditional manufacturing jobs doesn't bode well for employees, Cuban said. Government should work towards educating and supporting the workforce to prepare for a day when those jobs don't exist.
"The stupid thing about [President Donald] Trump taking credit for these factories is every single one of those companies is going to have less employees simply because they built those factories," Cuban said.
Artificial intelligence is getting more important because speed of processors has lead to greater advances, Cuban said. The best use of AI is when companies Amazon predict what people want to buy and offer them suggestions, which also puts the company in a great position for the future.
"Amazon is a data company," Cuban said. "To me, that is the world's greatest startup."
Cuban, who previously told CNBC he wouldn't rule out running for president, reiterated he is considering a bid. However, if he runs, he believes he will be running against President Mike Pence, as he doesn't think Trump will last until the next election cycle.
"The goal of not having a politician [be president]... there's value to that," Cuban said.