Alex Mayyasi

So, you know, I think about bank tellers as everyone is fretting, as many of us are fretting about AI.

And I wouldn't say that that means you should just be saying when and definitely like there can never be bad repercussions of automation.

There certainly are people who can.

be hurt by automation, lose their jobs.

But I think the big takeaway is that a lot of these transitions are not as fast and sudden as you might think.

There's time to adjust.

And it's less that jobs just go away, and it's more that jobs change.

And it's important to be adaptable.

I think it is really important at a time like this when there's the potential for automation to impact a lot of jobs.

Something like AI is perhaps a general purpose technology that could impact all sorts of jobs as opposed to the ATM that just more impacted bank tellers.

And so I think that's a case where it is really important for politicians and all of us should be thinking about how can we help workers who will be impacted by this or might be impacted by this.

Credit cards, when they were invented, were kind of incredible.

It's this really hard chicken and egg problem that to get stores to accept credit cards, you need lots of customers who are already using them to get customers to want to use them.

You need lots of stores signed up.

So banks and credit card companies did this really useful service of getting credit

both customers and stores to adopt them.

And for stores, it was this great deal.

It was like, hey, you're chasing down all these little debts from customers, keeping track of how much your customers owe you.

We'll take all that on, we'll pay you quickly and promptly, and then we'll take on all the pain and annoyance of getting those bills paid.

And it was a good deal, and it made it possible to use your Visa card, your MasterCard all over the world.