Apple And The Future Of Automation: Why Steve Jobs' Vision Was Very Much In Line With The Next Tech Boom

Apple Inc. AAPL earnings are in a little over 24 hours. Director of the MIT Initiative on the Digital Economy Erik Brynjolfsson recently spoke with Bloomberg about the company's vision and the next tech boom.

Brynjolfsson highlighted the misconception that automated systems will one day replace all human jobs. In his opinion, robotics will automate mundane tasks and allow humans to focus on higher-level creative tasks.

"As technology automates more and more of routine, repetitive kinds of tasks, there's actually more value for the arts and creativity," he explained.

Brynjolfsson next discussed Apple. The company's stock was stagnant in the 1990s. It has since risen 100-fold between the Spring of 2003 and January 2016.

"You mentioned Apple," he added. "Steve Jobs' genius was not just that he understood technology, but that he understood aesthetics and design. By bringing those together, you create a lot more value than if you have them separately."

While the vast majority of Apple analysts and pundits are focusing on valuation metrics, cash balance and iPhone shipments, Brynjolfsson's commentary indicates -- over the uber long-run -- the company's vision is very much in line with the future of the tech space.

Apple shares are near $100 on Monday afternoon.