WEBVTT - Single Best Idea with Tom Keene: Amanda Agati & Mike Green

0:00:02.400 --> 0:00:12.720
<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio news.

0:00:13.200 --> 0:00:16.439
<v Speaker 2>Single best idea over the weekend, without question. AI was

0:00:16.520 --> 0:00:19.319
<v Speaker 2>the chat du jour, the idea of belief in it,

0:00:19.480 --> 0:00:22.759
<v Speaker 2>disbelief in it, mystery getting to the June ten meeting.

0:00:22.840 --> 0:00:25.959
<v Speaker 2>Mark German out of power On. Subscribe to power On.

0:00:26.600 --> 0:00:31.240
<v Speaker 2>It's a Bloomberg newsletter, hugely informative with all the industry

0:00:31.280 --> 0:00:34.000
<v Speaker 2>contexts of Mark German can't say enough about it. German

0:00:34.080 --> 0:00:36.680
<v Speaker 2>Publishing on the importance of all this, so we thought

0:00:36.720 --> 0:00:40.600
<v Speaker 2>we'd do a single best idea. Amanda Agatti P and

0:00:40.680 --> 0:00:44.960
<v Speaker 2>C Financial usually measures she likes US over international, big

0:00:45.000 --> 0:00:50.199
<v Speaker 2>stocks over small Here is Amanda Agatti on a I.

0:00:50.200 --> 0:00:52.519
<v Speaker 3>I think the key as it relates to AI is

0:00:52.520 --> 0:00:55.280
<v Speaker 3>that it is not just one stock AK and Video.

0:00:55.640 --> 0:00:57.600
<v Speaker 3>I mean, we are big fans of Nvidia, but the

0:00:57.640 --> 0:01:00.720
<v Speaker 3>story goes so much further than just one stock or

0:01:00.720 --> 0:01:04.280
<v Speaker 3>one industry. I think the key, really, the Secular Bowl

0:01:04.360 --> 0:01:08.680
<v Speaker 3>theme is really across the market and across sectors and industries.

0:01:09.000 --> 0:01:11.479
<v Speaker 3>Any company, no matter how big or small, that can

0:01:11.600 --> 0:01:16.320
<v Speaker 3>leverage that technology to enhance their processes and enhance profitability

0:01:16.360 --> 0:01:18.600
<v Speaker 3>is going to win. And I think that's why some

0:01:18.720 --> 0:01:21.600
<v Speaker 3>of the game is really changing. You're seeing utilities move

0:01:21.760 --> 0:01:24.920
<v Speaker 3>pretty dramatically. It's such an odd AI play, but that's

0:01:24.920 --> 0:01:27.399
<v Speaker 3>a good example of what we're thinking about much broader

0:01:27.400 --> 0:01:27.920
<v Speaker 3>base play.

0:01:28.080 --> 0:01:31.520
<v Speaker 2>Wellman A got APNC, lots of conversations on this today,

0:01:31.560 --> 0:01:34.120
<v Speaker 2>and you know, this is a really sprightly you know,

0:01:34.360 --> 0:01:38.319
<v Speaker 2>Tuesday after Memorial Day weekend set of voices today. Ani

0:01:38.360 --> 0:01:41.960
<v Speaker 2>Agrana out of Chicago with Bloomberg Intelligence, I thought was

0:01:42.040 --> 0:01:46.440
<v Speaker 2>really great going from his expertise in cloud over to

0:01:46.959 --> 0:01:50.480
<v Speaker 2>the appropriation or allocation I should say a better word,

0:01:50.960 --> 0:01:55.440
<v Speaker 2>the allocation at capital. Ani Agrana, who's truly expert in this,

0:01:56.360 --> 0:02:00.360
<v Speaker 2>is adamant there's no downside to this big expend of

0:02:00.400 --> 0:02:04.640
<v Speaker 2>capital on technology in America. That's a heated debate. There's

0:02:04.640 --> 0:02:08.480
<v Speaker 2>a lot of people that push against that. Groan excuse me,

0:02:08.919 --> 0:02:11.040
<v Speaker 2>anirak ron I guess man, I didn't get enough tang

0:02:11.160 --> 0:02:15.960
<v Speaker 2>zero this morning. Antiog Arana really quite heated that there's

0:02:16.560 --> 0:02:20.880
<v Speaker 2>a huge advocacy here to good use of capital into

0:02:20.880 --> 0:02:23.160
<v Speaker 2>the boom. To continue my answer as well, it's wrapped

0:02:23.200 --> 0:02:27.240
<v Speaker 2>around nominal GDP that seems to be doing better than good.

0:02:27.520 --> 0:02:30.880
<v Speaker 2>Another voice on AI, a different voice than Amanda Agatti.

0:02:31.560 --> 0:02:36.079
<v Speaker 2>Mike Green is to simplify huge expertise here with various

0:02:36.120 --> 0:02:39.000
<v Speaker 2>hedgephones over the years. Mike Green is a wonderful and

0:02:39.120 --> 0:02:45.760
<v Speaker 2>intelligent voice here on AI. Here Mike Green on artificial intelligence.

0:02:46.080 --> 0:02:49.520
<v Speaker 1>The dynamics and AI are really fascinating to me, particularly

0:02:49.520 --> 0:02:51.080
<v Speaker 1>because of the impact is likely to have in the

0:02:51.120 --> 0:02:53.760
<v Speaker 1>knowledge economy. The way I describe AI, and I use

0:02:53.840 --> 0:02:57.120
<v Speaker 1>it extensively, is it's like having an unlimited number of

0:02:57.200 --> 0:03:01.640
<v Speaker 1>first year investment banking analysts know what they don't know what? Boy,

0:03:01.680 --> 0:03:07.160
<v Speaker 1>do they work hard right now? As a manager? Right

0:03:07.280 --> 0:03:09.840
<v Speaker 1>that actually creates conditions under which I suddenly have a

0:03:09.960 --> 0:03:13.000
<v Speaker 1>workforce that is willing to work for twenty dollars per

0:03:13.040 --> 0:03:16.600
<v Speaker 1>month in almost unlimited fashion. Do I need to supervise them?

0:03:16.639 --> 0:03:18.120
<v Speaker 1>Do I need to make sure that the quality that

0:03:18.120 --> 0:03:22.120
<v Speaker 1>they're putting out is robust? Absolutely? But this has implications

0:03:22.120 --> 0:03:25.920
<v Speaker 1>both for my own productivity and for our society. Candidly,

0:03:26.000 --> 0:03:27.680
<v Speaker 1>I've got three kids who are in the process of

0:03:27.720 --> 0:03:30.040
<v Speaker 1>coming out of college, all of whom are looking at

0:03:30.080 --> 0:03:32.760
<v Speaker 1>those first year investments in banking roles and saying, what

0:03:32.840 --> 0:03:33.720
<v Speaker 1>do I want to be doing?

0:03:34.320 --> 0:03:34.519
<v Speaker 2>Right?

0:03:34.639 --> 0:03:36.320
<v Speaker 1>Is this the direction that I want to go given

0:03:36.360 --> 0:03:38.400
<v Speaker 1>that I now have twenty dollars a month competitors.

0:03:38.720 --> 0:03:43.280
<v Speaker 2>That is the single best description I have heard of AI.

0:03:43.440 --> 0:03:47.880
<v Speaker 2>Mike Green there simplify with just a brilliant summation that

0:03:48.120 --> 0:03:50.240
<v Speaker 2>all of this, and I'm not just talking about chat

0:03:50.280 --> 0:03:54.200
<v Speaker 2>GPT and what it means for computer programmers, but all

0:03:54.280 --> 0:04:00.720
<v Speaker 2>of this is basically the integrity of wonderful, well meaning

0:04:01.240 --> 0:04:04.440
<v Speaker 2>first year investment bankers. And it can be first year

0:04:04.440 --> 0:04:08.040
<v Speaker 2>in whatever field year in folks, I really really can't

0:04:08.040 --> 0:04:10.760
<v Speaker 2>say that enough. But what is going to be the

0:04:10.960 --> 0:04:15.120
<v Speaker 2>use to so many of us of the wisdom of

0:04:15.200 --> 0:04:18.000
<v Speaker 2>a first year nurse, a first year doctor, a first

0:04:18.080 --> 0:04:23.719
<v Speaker 2>year plumber, a first year construction guy. I just really

0:04:23.760 --> 0:04:26.440
<v Speaker 2>have trouble with us. I think Paul Sweeney feels the

0:04:26.440 --> 0:04:29.640
<v Speaker 2>same way, and we'll just continue to talk to voices.

0:04:29.800 --> 0:04:33.920
<v Speaker 2>Is this unwindes. One thing we heard today incredibly important

0:04:34.120 --> 0:04:39.200
<v Speaker 2>is this Apple Developers conference is crucial for the future

0:04:39.320 --> 0:04:44.560
<v Speaker 2>of Apple Ana Agrana, among others. Making clear that the

0:04:44.720 --> 0:04:47.960
<v Speaker 2>expectations are set so high for Tim Cook in that theme,

0:04:48.600 --> 0:04:50.880
<v Speaker 2>Caroline Hide and need Ludlow. Of course we'll have coverage

0:04:50.880 --> 0:04:53.840
<v Speaker 2>of that with Bloomberg Technology. Look for that out to

0:04:53.960 --> 0:04:57.520
<v Speaker 2>June tenth, that something will continue to weigh on as well.

0:04:57.560 --> 0:05:00.640
<v Speaker 2>We are on Apple car Play, they're out with a

0:05:00.720 --> 0:05:04.320
<v Speaker 2>new software like soon. I'm not sure when it's going

0:05:04.400 --> 0:05:06.520
<v Speaker 2>to have a whole new improvements to where you literally

0:05:06.560 --> 0:05:10.000
<v Speaker 2>can talk to your dashboard, maybe catching up with Android.

0:05:10.080 --> 0:05:14.200
<v Speaker 2>Android Play certainly doing well as well for us. And

0:05:14.240 --> 0:05:16.479
<v Speaker 2>on YouTube, and I really think it was a shock

0:05:16.560 --> 0:05:20.279
<v Speaker 2>of the Memorial Day weekend is trying to not so

0:05:20.360 --> 0:05:23.880
<v Speaker 2>much assess we can assess it, and we're humbled by

0:05:23.920 --> 0:05:27.239
<v Speaker 2>the response. On YouTube. You go to YouTube, you search

0:05:27.240 --> 0:05:31.480
<v Speaker 2>Bloomberg podcasts, you can subscribe to Bloomberg podcast to get

0:05:31.520 --> 0:05:35.920
<v Speaker 2>all the value out of our conversations. But we're absolutely

0:05:36.000 --> 0:05:38.720
<v Speaker 2>humbled by it. I can't say enough about YouTube Premium

0:05:39.040 --> 0:05:41.680
<v Speaker 2>as well. I pay for that myself. They didn't give

0:05:41.680 --> 0:05:45.719
<v Speaker 2>it to me. YouTube Premium is just a wonderfully clean

0:05:45.800 --> 0:05:51.320
<v Speaker 2>interface to get all of this good conversation on economics, finance, investment,

0:05:51.480 --> 0:05:55.920
<v Speaker 2>and international relations on a Tuesday. It's a holiday length

0:05:55.920 --> 0:06:02.920
<v Speaker 2>and work week. Single best I did sen