Colin’s note: Artificial intelligence (AI) may mean the end of the workweek as we know it…
AI is ushering in a new era where humans work less than the previous generations… And a three-day work week is likely inevitable.
Now, I’m not saying that’s going to happen overnight. But I have been hammering on in these pages about how AI will increase productivity… create new jobs… and bring about a better quality of life for people.
And that includes a future where we work less and spend more time doing things we truly enjoy. I get into the details – and the stocks that stand to gain the most from this shift – in today’s video.
Access it by clicking on the video link below… Or, if you prefer, you can read the transcript, which my team has edited for flow.
And as always, I love to hear your feedback. So, send your thoughts and comments to [email protected].
What do Elon Musk, Bill Gates, and Jamie Dimon have in common?
Aside from being insanely rich and wealthy… each believes AI will lead to a workweek consisting of just three days per week.
Imagine working just three days per week and earning enough to support yourself and your family.
I know what some of you are going to say…
This is impossible. It’s a fantasy utopia that will never materialize. Or it would require universal basic income – or UBI.
But today, I’ll show you data that proves some industries could implement a three-day workweek right now.
I’ll explain why the three-day workweek is likely inevitable. And, more importantly, I’ll show you which stocks could benefit in a world where the standard workweek gets shorter.
Last week, Microsoft co-founder, billionaire Bill Gates, said that thanks to AI and automated machines, workers might just work three days per week… He later added, “The purpose of life is not just to do jobs.”
That’s obviously easy for a billionaire to say. And, in my opinion, Bill Gates lost some credibility during the pandemic with his unsolicited medical advice.
However, this man does know software… And his claims are backed up by another successful tech entrepreneur – Elon Musk.
In fact, Elon took things a step further.
Here’s what he had to say earlier this month…
In the future, you won’t need to work. You can have a job if you want to have a job for personal satisfaction.
Add JPMorgan CEO Jamie Dimon to the mix as well. Earlier this year he said our children will have a three-and-a-half-day workweek while also ridding the world of cancer due to AI.
Is this an example of these billionaire businessmen losing touch with reality? A three-day workweek sounds too good to be true.
Or is it possible AI ushers in a new era where humans work less than the previous generations did?
Data is showing that reducing the shorter workweek is already possible in some industries today.
A study earlier this year found that AI in the hands of computer programmers made them code 126% more projects in a week.
I can attest to this. After spending nearly two decades of my life coding websites, I simply stopped trying to learn new techniques about a year ago.
It’s far more efficient for me to use AI to code. I hear the same thing from friends and colleagues in the industry.
The same study found business professionals could write 59% more documents per hour using AI. And a broader study led by a professor at Harvard Business School found that AI increased worker performance by as much as 40%.
What do these figures mean?
Well, it means AI could already reduce the workweek to three or four days for many industries.
But I want to be clear… I don’t expect workers to clock in just three days per week anytime soon.
In the short term, companies are going to get more out of workers by giving them AI tools to supplement their skills.
They’ll also be able to lay off a portion of its staff given the remaining employees are more productive.
We saw this earlier this year with tech companies like Meta and Google laying off significant portions of its staff.
It’s just a reality that AI allows companies to do more with less.
As a side note, productivity gains at companies across America are what will ultimately kill inflation faster than anyone in Washington DC finds a solution.
Longer term though … The three-day workweek is likely.
That’s because we’re up against undeniable workforce trends going forward.
The workforce is aging.
About 25% of the American workforce is 55 years old or older.
What’s also undeniable is who is going to replace these workers… Generations that value a work-life balance more than previous generations did.
A recent survey of Gen Z adults overwhelmingly said that a six-hour workday was the most reasonable.
Millennials, who make up around 35% of today’s workforce, overwhelmingly believe they can accomplish everything their job requires with a four-day workweek.
The Baby Boomers’ undeniable devotion to working hard rubbed off on their children and grandchildren …. But not in the same way.
Many saw their parents sacrifice time with the family or for personal pursuits in favor of working an extra shift. It’s unlikely the next generation of workers has this same devotion to working long hours.
So who benefits when we’re working three days per week? What stocks do you invest in?
Well, the first part is fairly easy. AI supplementing workers’ skills requires a tremendous amount of computing power, data centers, and energy.
Subscribers to my Near Future Report and Exponential Tech Investor services get a steady diet of these recommendations.
On the flip side, leisure stocks will absolutely benefit from shorter work weeks.
Hotels, cruises, entertainment, and fashion should outperform in an era where workers are clocking in fewer hours.
And maybe some of society’s biggest challenges are met. Stress, depression, anxiety, diseases like cancer, lack of exercise, and low birth rates have a better chance of easing if people work less.
I know AI has people worried about jobs and universal basic income. But every generation wants to leave the world in a better place for the next.
And with AI, it seems like a future where we work less and spend more time doing things we truly enjoy is in reach.
And with that, we should be not only thankful but excited about what’s to come.
That was The Bleeding Edge for today. I’m Colin Tedards, and I’ll see you again soon.