1 00:00:00,120 --> 00:00:03,040 Speaker 1: Mike Dubuski, ABC News reporter who is with us on 2 00:00:03,080 --> 00:00:04,080 Speaker 1: a regular basis. 3 00:00:04,640 --> 00:00:05,920 Speaker 2: Good morning, Mike. 4 00:00:06,240 --> 00:00:09,879 Speaker 1: How are things doing in the world of Mike Dubuski, 5 00:00:10,039 --> 00:00:11,320 Speaker 1: And not that I care, but I. 6 00:00:11,240 --> 00:00:14,920 Speaker 3: Have hanging in I suppose yeah, okay. 7 00:00:14,640 --> 00:00:17,960 Speaker 2: Good, good answer, hanging in. Okay. I want to spend 8 00:00:18,000 --> 00:00:19,119 Speaker 2: a minute talking. 9 00:00:19,480 --> 00:00:25,680 Speaker 1: About shopping online for the holidays and how AI is 10 00:00:25,760 --> 00:00:27,760 Speaker 1: affecting that, because it seems to. 11 00:00:27,720 --> 00:00:31,400 Speaker 3: Be Yeah, absolutely so. There's some new numbers that we 12 00:00:31,520 --> 00:00:33,960 Speaker 3: have from Adobe Analytics that looks into this, and what 13 00:00:34,000 --> 00:00:37,320 Speaker 3: they found was that in the month of October, traffic 14 00:00:37,400 --> 00:00:41,920 Speaker 3: from AI platforms to retail sites was up twelve hundred 15 00:00:42,040 --> 00:00:44,879 Speaker 3: percent over last year, meaning that people are going to 16 00:00:45,400 --> 00:00:49,000 Speaker 3: services like chat, GPT or Google Gemini. They're talking to 17 00:00:49,040 --> 00:00:51,599 Speaker 3: these chatbots for a little while, and some of the 18 00:00:51,640 --> 00:00:55,960 Speaker 3: answers that these chatbots give back are recommendations for products 19 00:00:56,120 --> 00:00:59,040 Speaker 3: or you know, links to other websites. People are then 20 00:00:59,120 --> 00:01:04,400 Speaker 3: clicking those links and increasingly buying things on online retail platforms. 21 00:01:04,560 --> 00:01:07,760 Speaker 3: In fact, Adobe also found that once a person was 22 00:01:07,840 --> 00:01:10,160 Speaker 3: sent to one of these third party websites, whether it 23 00:01:10,200 --> 00:01:13,720 Speaker 3: be Walmart or eBay or Amazon dot Com, they were 24 00:01:13,840 --> 00:01:17,960 Speaker 3: sixteen percent more likely to buy something if they came 25 00:01:18,000 --> 00:01:20,080 Speaker 3: from an AI platform, and they found this was true 26 00:01:20,080 --> 00:01:22,360 Speaker 3: in September as well. So as we head into the 27 00:01:22,360 --> 00:01:25,480 Speaker 3: holiday shopping season, it seems like this is a growing 28 00:01:25,520 --> 00:01:28,680 Speaker 3: trend people going to these AI services and using them 29 00:01:28,680 --> 00:01:30,919 Speaker 3: to kind of get an idea of what to buy 30 00:01:31,120 --> 00:01:32,880 Speaker 3: in the online e commerce space. 31 00:01:33,400 --> 00:01:36,880 Speaker 1: Hey, a quick question about AI, and that is that 32 00:01:37,520 --> 00:01:42,280 Speaker 1: major companies, particularly the tech companies, are spending hundreds of 33 00:01:42,560 --> 00:01:47,560 Speaker 1: billions of dollars yeah, on AI, and most of the 34 00:01:47,600 --> 00:01:50,160 Speaker 1: economists who are looking at this are saying, there is 35 00:01:50,360 --> 00:01:52,360 Speaker 1: no way on God's Earth they're going to be able 36 00:01:52,400 --> 00:01:57,240 Speaker 1: to monetize this. It's virtually impossible because of the money 37 00:01:57,320 --> 00:01:58,680 Speaker 1: that's being invested in this. 38 00:02:00,000 --> 00:02:02,000 Speaker 2: What is your take on this? Do you think that's 39 00:02:02,040 --> 00:02:02,480 Speaker 2: the case. 40 00:02:02,840 --> 00:02:05,840 Speaker 3: I think that's increasingly going to be a point of discussion. Yeah, 41 00:02:05,920 --> 00:02:09,200 Speaker 3: this next couple months, these next few quarters are going 42 00:02:09,240 --> 00:02:11,840 Speaker 3: to be crucial for the AI industry as they try 43 00:02:11,880 --> 00:02:15,960 Speaker 3: to monetize this technology because they are spending way more 44 00:02:16,000 --> 00:02:18,440 Speaker 3: than they're making. We think that open ai, which is 45 00:02:18,440 --> 00:02:22,200 Speaker 3: the maker of JADGPT, made about twenty billion dollars last year. 46 00:02:22,320 --> 00:02:26,080 Speaker 3: A pretty penny certainly, but they also lost twelve billion 47 00:02:26,120 --> 00:02:31,200 Speaker 3: dollars last quarter alone. It is incredibly expensive to build 48 00:02:31,200 --> 00:02:34,880 Speaker 3: this technology, to build the data centers, and hire the 49 00:02:35,000 --> 00:02:38,320 Speaker 3: talent that is needed to make these systems work. And 50 00:02:38,480 --> 00:02:41,840 Speaker 3: it's worth mentioning these systems don't even entirely work. Yet 51 00:02:41,880 --> 00:02:45,160 Speaker 3: they still hallucinate, they still make mistakes. There are still 52 00:02:45,240 --> 00:02:49,080 Speaker 3: some real questions about deploying this at scale. So, you know, 53 00:02:49,560 --> 00:02:51,520 Speaker 3: I think it's interesting to see them kind of move 54 00:02:51,560 --> 00:02:55,919 Speaker 3: into this e commerce space. Chat GPT recently announced integrations 55 00:02:55,919 --> 00:02:58,880 Speaker 3: with PayPal and Shopify that will let you check out 56 00:02:59,280 --> 00:03:01,920 Speaker 3: on the app without ever having to leave and actually 57 00:03:01,919 --> 00:03:03,920 Speaker 3: go to a third party to make your purchase. You 58 00:03:03,960 --> 00:03:06,520 Speaker 3: can actually stay within the app and make your purchase there. 59 00:03:06,520 --> 00:03:08,359 Speaker 3: Of course, they get a cut of that. It seems 60 00:03:08,400 --> 00:03:10,680 Speaker 3: like that's a revenue stream for them, or they certainly 61 00:03:10,680 --> 00:03:13,360 Speaker 3: hope it will be, because eventually these bills are going 62 00:03:13,440 --> 00:03:16,240 Speaker 3: to start coming DOE and they are pretty hefty bills, 63 00:03:16,320 --> 00:03:18,840 Speaker 3: you know, to the order of nine figure deals that 64 00:03:18,880 --> 00:03:21,919 Speaker 3: OpenAI has struck with the likes of Oracle and Nvidia 65 00:03:22,000 --> 00:03:22,760 Speaker 3: and others. 66 00:03:23,240 --> 00:03:28,040 Speaker 1: You know, I I'm just starting to use AI and 67 00:03:28,400 --> 00:03:31,200 Speaker 1: just for research purposes, not that I have this problem 68 00:03:31,600 --> 00:03:36,120 Speaker 1: but I looked at penis extenders with a I you 69 00:03:36,160 --> 00:03:39,680 Speaker 1: should have seen the stuff that I got. That's just 70 00:03:39,720 --> 00:03:45,240 Speaker 1: an aside. So people are buying with AI, is it? 71 00:03:45,360 --> 00:03:48,560 Speaker 1: I know it's way up the number of people doing it. 72 00:03:48,640 --> 00:03:51,160 Speaker 1: Do you actually save a good chunk of money? Is 73 00:03:51,320 --> 00:03:54,160 Speaker 1: worthwhile strictly monetarily. 74 00:03:53,840 --> 00:03:57,000 Speaker 3: Well from the customer's perspective, maybe a good thing that 75 00:03:57,040 --> 00:03:59,560 Speaker 3: these AI systems are pretty good at doing is like 76 00:03:59,600 --> 00:04:02,800 Speaker 3: compare prices, But of course there's still the hallucination problem. 77 00:04:02,880 --> 00:04:05,320 Speaker 3: They might be pulling a price that is outdated or 78 00:04:05,320 --> 00:04:08,520 Speaker 3: not accurate, so there's definitely some level of risk there. 79 00:04:08,840 --> 00:04:11,320 Speaker 3: I think that there's a bigger cost question when it 80 00:04:11,320 --> 00:04:14,400 Speaker 3: comes to deploying these things at scale. McKinsey put out 81 00:04:14,440 --> 00:04:17,640 Speaker 3: a survey last week that found that while ninety percent 82 00:04:17,640 --> 00:04:21,800 Speaker 3: of companies that they surveyed are regularly using AI, nearly 83 00:04:21,880 --> 00:04:25,960 Speaker 3: two thirds are not deploying it at scale into their workflows. 84 00:04:26,120 --> 00:04:28,080 Speaker 3: And this, of course comes nearly three years after the 85 00:04:28,160 --> 00:04:32,040 Speaker 3: launch of chant GPT. These companies are still adopting a 86 00:04:32,040 --> 00:04:34,960 Speaker 3: weight and see sort of approach to this technology, and 87 00:04:35,000 --> 00:04:37,880 Speaker 3: that creates a really existential threat for the AI industry. 88 00:04:38,480 --> 00:04:44,120 Speaker 1: Do we have any numbers or at least pronostications as 89 00:04:44,160 --> 00:04:48,800 Speaker 1: to how many people will or are unemployed because of AI, 90 00:04:49,800 --> 00:04:55,440 Speaker 1: and it's wiping out entire industries. I know that, for example, 91 00:04:55,640 --> 00:05:01,080 Speaker 1: entry level computer programmers, engineerings that's gone because of AI. 92 00:05:01,160 --> 00:05:03,560 Speaker 1: And I'm being told, oh, if people are there, if 93 00:05:03,560 --> 00:05:05,640 Speaker 1: they know how to use AI, well, that's a fraction 94 00:05:05,760 --> 00:05:08,040 Speaker 1: of the number of people who've lost their jobs. 95 00:05:08,080 --> 00:05:10,520 Speaker 2: Do we have any idea where that's going. 96 00:05:11,360 --> 00:05:14,360 Speaker 3: Not at the moment. Again, it's the very early stages 97 00:05:14,400 --> 00:05:16,920 Speaker 3: of this, and it's worth mentioning. While we are seeing 98 00:05:16,960 --> 00:05:20,200 Speaker 3: a lot of layoffs across the tech sector. Amazon made 99 00:05:20,520 --> 00:05:24,080 Speaker 3: huge headlines recently for nagging off thousands upon thousands of workers. 100 00:05:24,400 --> 00:05:26,960 Speaker 3: A lot of it doesn't actually have to do with AI. 101 00:05:27,200 --> 00:05:29,520 Speaker 3: And in fact, Amazon, you know, made that announcement that 102 00:05:29,560 --> 00:05:32,719 Speaker 3: they were making about a ten percent staff reduction globally, 103 00:05:33,080 --> 00:05:34,600 Speaker 3: and they actually had to come out after the fact 104 00:05:34,600 --> 00:05:37,600 Speaker 3: because many people were speculating it's because oh, they're integrating 105 00:05:37,640 --> 00:05:40,640 Speaker 3: generative artificial intelligence. Later they came out and said, no, actually, 106 00:05:40,880 --> 00:05:43,160 Speaker 3: we're just doing this because of other sort of economic 107 00:05:43,200 --> 00:05:45,240 Speaker 3: winds that are blowing. And I think that really does 108 00:05:45,279 --> 00:05:47,400 Speaker 3: speak to the fact that this technology despite the fact 109 00:05:47,400 --> 00:05:49,960 Speaker 3: that we talk about it all the time, is still 110 00:05:50,080 --> 00:05:53,599 Speaker 3: really imperfect and still not a really trustworthy thing for 111 00:05:53,640 --> 00:05:54,760 Speaker 3: these companies to integrate. 112 00:05:55,240 --> 00:05:58,480 Speaker 1: All right, Mike, thank you for the information. It's always good. 113 00:05:59,240 --> 00:06:01,599 Speaker 1: You have a good day. You did your because you're 114 00:06:01,720 --> 00:06:04,240 Speaker 1: because you're in New York. It's actually almost night. 115 00:06:05,080 --> 00:06:05,360 Speaker 2: Got it.