Billionaire Mark Cuban is warning AI will replace the masses in the workplace, and a solution is needed quickly if it is not to completely disrupt the order of the world.

The owner of NBA team the Dallas Mavericks said any technological revolutions in recent years are child’s play compared with what is to come.

Speaking at the OZY Festival – an event which combines music and intellectual talks – in Central Park, New York, Mr Cuban said: "However much change you saw over the past ten years with the Apple iPhone, that's nothing.

“There’s going to be a lot of unemployed people replaced with technology and if we don’t start dealing with that now, we’re going to have some real problems.”