'Artificial Intelligence Will Have Positive, Dynamic Effects,' LinkedIn's (LNKD) Hoffman Says

LinkedIn (LNKD) co-founder Reid Hoffman sat down with CNBC's Julia Boorstin from Sun Valley Idaho to discuss the future of artificial intelligence and its impact on the economy.
By Giovanni Bruno ,

NEW YORK (TheStreet) --As tech titans and media moguls gather in Idaho's Sun Valley, CNBC's Julia Boorstin sat down with LinkedIn (LNKD) co-founder Reid Hoffman to discuss the future of artificial intelligence today on "Closing Bell."

"I think artificial intelligence is going to be transforming massive swaths of the area of work in the economy. Even affecting professional spheres. Ten to twenty years from now if you're going to be an effective lawyer, doctor, or financial analyst, it will be in part your ability to use the technological implements, loosely going under the name of artificial intelligence," Hoffman explained.

So what does this mean for the American economy?

"I believe it could have very positive effects, but it does have very dynamic effects. Jobs will be going away and we have got to focus on entrepreneurship and creating new jobs. However, the jobs that do exist will be technology enabled and part of the skill set is having the necessary technology skills," Hoffman said.

Employees will have to know the basics of the tech world however at a more sophisticated level, he added. Thus, leading Hoffman to comment on whether he feels the current education system in the U.S. is in place to train people appropriately.

"I think we need to get it. It is a common and an intelligent worry that our education is insufficiently S.T.E.M., insufficiently technical, and insufficiently aggressive at younger ages. It's not just learning new programs its learning to use them to work effectively," Hoffman noted.

Hoffman also pointed out that though he's currently not investing as much as he used to, but he does continue to believe in investing in the sphere and growth of artificial intelligence.

LinkedIn shares were lower 0.13% to $190.20 on Thursday. 

Separately, TheStreet Ratings rates LinkedIn as a "Sell" with a ratings score of "D". This is driven by a few notable weaknesses, which TheStreet Ratings believes should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks TheStreet Ratings covers.

The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself.

TheStreet Ratings objectively rated this stock according to its risk-adjusted total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: LNKD

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