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Charting the Automation Potential of U.S. Jobs

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Charting the Automation Potential of U.S. Jobs

In last week’s Chart of the Week, we noted that 1.3 million industrial robots would be installed between 2015 and 2018, and this would more than double the stock of active robots around the world.

While many of those robots will be used in the automotive and electronics sectors, there are many other roles that robots will be filling in the future. Surprisingly, according to global consultant McKinsey & Co, not all of these jobs are low-skill, low-wage jobs, either.

Mckinsey ran a comprehensive study of nearly 800 different jobs in the United States, ranging from CEOs to fast food workers. Between these roles, they found 2,000 individual work activities, and assessed them against 18 different capabilities that could potentially be automated. In their analysis, they found that 45% of work activities representing $2 trillion in wages can already by automated based on proven technology that currently exists. A further 13% of work activities in the U.S. economy could be automated if the technologies used to understand and process human language were brought up to the median human level of competence.

Who’s in, Who’s Out?

The interactive visualization above charts specific careers on their automation potential (out of 100%) along with the hourly average wage of the job.

What is most interesting about the analysis is that automation potential doesn’t correlate with low-skill, low-wage jobs as much as one may think. While it’s true that the three million fast food workers across the country have an automation potential of 74%, and that heavy truck driving activities can be 69% automated, there are also great counter-examples: for example, only 7% of manual labor and 22% of janitorial activities could be automated.

Likewise, high-paying jobs are not necessarily robot-proof.

Doctors (23%), nurses (29%), and even CEOs (25%) all have significant amounts of their jobs that can be automated with current technology. Almost half (47%) of what pharmacists do can be done by a robo-pharmacist, and 72% of commercial pilot activities can be done through computers.

Not interested in having a robot fill your shoes? Mckinsey notes at the end of their analysis that both creativity and sensing emotion are extremely difficult to automate. Focus on building skills and competencies in these categories, and you’ll be just fine (for now, at least).

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What Would $5,000 Invested in Nvidia Be Worth Today?

Small fortunes have been made for those investing in Nvidia stock. But how much would have they earned if they bought before it skyrocketed?

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What Would $5,000 Invested in Nvidia Be Worth Today?

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Investing in Nvidia has been highly lucrative, especially for investors who got in early.

As America’s largest chipmaker, its stock price has soared given its critical role in powering AI. Last year alone, its share price jumped 272%, vaulting it into becoming one of the world’s most valuable companies.

This graphic shows how much a $5,000 investment in Nvidia would have grown over time, based on data from Yahoo Finance.

Investing in Nvidia Before the AI Boom

Below, we show how much an investment in Nvidia would have increased in value over the last several decades:

Year Invested (January 1st)Stock PriceStarting ValueValue Today (as of Feb 15, 2024)
2000$0.77$5,000$4,718,052
2010$3.85$5,000$943,610
2015$4.80$5,000$756,854
2020$59.11$5,000$61,460
2023$195.37$5,000$18,595

For those who bought in 2000, a $5,000 investment would be worth over $4.7 million today, with Nvidia’s stock price rising 94,261% over the time period.

At the time, Nvidia had just invented its graphics processing unit (GPU), which allowed computer graphics to render more seamlessly in video games and video editing. These high-performance units complete complex computing tasks, and Nvidia was creating leading technology at the time.

Over the last decade, Nvidia has increasingly focused on AI technology, with key developments launching as early as 2012. Yet it was not until 2020 when its share price really began to soar as the company’s end customer segments increasingly became data centers and cloud computing, alongside video games.

In fact, since 2020 alone, its share price has soared 1,129%—making a $5,000 investment worth twelve times as much today.

So far this year, its stock price shows no sign of stopping, driven by its outsized role in the AI chipmaking market. Roughly 70% of all chips are sold by Nvidia, outpacing key competitor AMD by a landslide.

The company’s Q4 revenues topped $22 billion, setting another historical record, amounting to a 265% year-over-year increase in revenues. In 2023, Nvidia sold 2.5 million chips with customers including OpenAI, Microsoft, Meta Platforms, and Alphabet. The price range for these chips can span anywhere from $16,000 to $100,000.

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