Speaker 1: Finance. He's a coke man. He's been on coke for many,
Speaker 1: many years. I believe good a Scottie.
Speaker 2: Oh, you're absolutely right right your ages quietly?
Speaker 1: Yeah, you know what the price going on.
Speaker 2: Is the price? Yeah, I'm looking at a case of
Speaker 2: it literally right now on the floor next to me.
Speaker 2: You know what we also done the old say the
Speaker 2: stream you get some of that, sup, will whack it
Speaker 2: in much much cheaper way to make soft drink.
Speaker 1: Well, it doesn't taste the same though, doesn'.
Speaker 2: No, it doesn't. But you know the kid is drinking
Speaker 2: or not.
Speaker 1: So, Scott Phillips says, the author at Motley Full Australia
Speaker 1: is an expert when it comes to finance. So you
Speaker 1: have noticed the price of soft drink go up. So
Speaker 1: that's one tick.
Speaker 2: Absolutely.
Speaker 1: Now the union is pushing for AI regulation. They're worried
Speaker 1: about everyone's jobs, are they?
Speaker 2: Yeah, and probably reasonably. I guess the challenge this is
Speaker 2: the upcoming jobs and productivity. Some of the prime ministers
Speaker 2: announced they're as usual. Authors has outlaid their demands up front.
Speaker 2: You'd like to think that both groups businesses and unions
Speaker 2: were going together and actually tr fixed productivity first and
Speaker 2: then worry about the spoils. But that's the way it's going.
Speaker 2: IRI is going to be massive, guys. You know that,
Speaker 2: and your listeners know that the amount it's being used
Speaker 2: across the economy for all sorts of different things will
Speaker 2: only increase massively as the technology even continues to improve further.
Speaker 2: When that happens, it is going to seriously put jobs
Speaker 2: at risk. We've seen, you know, meaningful changes. One of
Speaker 2: the Templar Webster online furniture company, of all things they reckon,
Speaker 2: they say about eight million dollars in customer service costs
Speaker 2: by using AI as a solution. That's just one single
Speaker 2: number you roll it out across the economy. So the
Speaker 2: unions are worried that maybe AI will take white collar
Speaker 2: and blue collar jobs, and they want protection is built
Speaker 2: in there. They want to work and how we're going
Speaker 2: to share that productivity gain amongst labor and capital, as
Speaker 2: they say, amongst workers and businesses. So yeah, the and
Speaker 2: claims upfront, getting ahead of the game when it comes
Speaker 2: to the upcoming summit. Now that's what's on the agenda
Speaker 2: for the line.
Speaker 1: You run a big organization there, do you use it much?
Speaker 2: Yeah? We do. Actually, everything from coding. We haven't used
Speaker 2: the content creation for public consumption yet. We're going to
Speaker 2: roll it out really quickly. So yeah, all all sorts
Speaker 2: of different places across the thing, summarizing, documentation, finding details.
Speaker 2: What is really grateful search wise is giving you a
Speaker 2: consolate and search result. You back to me in Google
Speaker 2: and you get a couple of links. You ask I
Speaker 2: have something. I should give you a fully worked solution.
Speaker 2: But yeah, and look, this is all the early days.
Speaker 2: But this is just the early uses. Over time that
Speaker 2: we use more and more acids. Suspect AI made mills.
Speaker 2: You know I pashed the other day? Did you know
Speaker 2: that half you like boys?
Speaker 1: Yeah? Have you seen those?
Speaker 2: Have you seen that?
Speaker 1: Turn yourself into gorilla or whatever?
Speaker 2: Made?
Speaker 1: It's insane what it can do that hard for you.
Speaker 2: Here's the other thing there you go on. On the
Speaker 2: on the downside, my video of me has been deep
Speaker 2: faked to be spreaking bitcoin. They've actually used a video
Speaker 2: which is scary when you see it, right, only because
Speaker 2: it's just weird, but it's too there's also also a
Speaker 2: chance of scams. All that kind of StuffYeah. Because Hi,
Speaker 2: I'm Scott Phillips. You should buy my bitcoin joy my
Speaker 2: WhatsApp group, all that kind of stuff. It's really it
Speaker 2: can be used for very nefarious uses as well. So
Speaker 2: how do you protect yourself? What's your right? Scott? You
Speaker 2: can't put it well. I mean, frankly, Twiggy for US
Speaker 2: and Bill Gates, Dick Smith have been fighting this on
Speaker 2: their names, like this is David Kosh. They've all been
Speaker 2: used in any same sorts of scams. Yeah, exactly. Trying
Speaker 2: to get Facebook to pull them down and trying to
Speaker 2: get Twitter to pull them down. It's really hard work.
Speaker 2: They frankly don't care enough, and so we probably need
Speaker 2: some degree of regulation. I know too much regulation is
Speaker 2: not great, but you know that you can't unless those
Speaker 2: players chew to take them down. You've got no recourse whatsoever.
Speaker 2: I've had copy accounts of my accounts made people pretending
Speaker 2: me on Facebook, coor Twitter say hey, this is my
Speaker 2: new account, come over here using my photo, my profile,
Speaker 2: the whole box and dice.
Speaker 1: Yeah.
Speaker 2: Markets today, Yeah, it's going to be a good day
Speaker 2: in the market, hopefully. The USBI actually down a quarter
Speaker 2: of a percent. Yeah yeah, well, US market was down,
Speaker 2: but it looks that resource prices are going to prop
Speaker 2: us up. Today the ass luck it again about a
Speaker 2: quarter of one percent if the futures are right, dollar
Speaker 2: down by about a quarter of a percent, but still
Speaker 2: over sixty five cents currently sixty five point zero six US.
Speaker 1: Good stuff for Roke. Want to check out Scott's work
Speaker 1: Motley Full Australia as where you'll find him the genuine
Speaker 1: and the rule one Scotti Phillips Things.
Speaker 2: Thanks Scot.
Speaker 1: Scott Phillips there with finance heaving back tomorrow