Google's Eric Schmidt: We need critical thinking now more than ever | Guardian Small Business Network | The Guardian

From an overview of a timely Eric Schmidt reality check

"He acknowledged that the fast pace of innovation had made many wary of change. But he emphasised that machine learning and artificial intelligence hold opportunities for a broad range of sectors, including farming, energy, fashion, and healthcare, even if they operated very differently to today. 

“The largest taxi company has no taxis, that’s Uber. The largest accommodation company has no real estate, that’s Airbnb. The largest phone company has no infrastructure, that’s Skype. The most valuable retailer has no inventory, that’s Alibaba. The largest movie theatre, has no movie theatres, that’s Netflix.

“These of course are huge disruptions ... and incumbents [always] resist change. When Henry Ford released his Model T car, it was dismissed as a fad because horses are here to stay. In 1928, a doctor warned that rail travel at high speeds would cause passengers to die of asphyxiation. And – my favourite – in 2007, [Microsoft CEO] Steve Ballmer said there was no chance the iPhone was going to achieve any significant market share.”"

Google's Eric Schmidt: We need critical thinking now more than ever | Guardian Small Business Network | The Guardian