“The internet ruined everything!” said my Balinese Grab driver in Denpasar last week. I asked why. He elaborated that his tour-guide diploma program, which he completed in the mid-90s, was now obsolete. Foreign tourists no longer need local guides to visit local tourist sites. “It’s all on the internet!” he complained.

Thanks to the disruptive power of the Internet of Things (IoT), a few months ago Budi Djatmiko, the head of the Indonesian Private University Association, shared in a seminar that tourism diploma programs are rapidly facing extinction, along with journalism, travel agent, traditional retail and banking programs, whose industries are being decimated worldwide.

This week, United States investment bankers grumbled about a 30 percent cut to their annual bonuses, thanks to the arrival of algorithmic traders (algos) – automated machine learning programs that trade better, faster, at all applicable times, in multiple trading platforms simultaneously and do not go on maternity or paternity leaves, strike, ask for bonuses or pay raises.