WEBVTT - 40th Commerce Secretary Gina Raimondo Talks AI and US Workforce

0:00:02.480 --> 0:00:09.000
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news. So Google, keep in mind,

0:00:09.360 --> 0:00:12.960
<v Speaker 1>was one of anthropics earliest investors, repetely buying equity in

0:00:13.039 --> 0:00:16.440
<v Speaker 1>the AI firm, and as Emily mentioned, it's increasingly now

0:00:16.640 --> 0:00:20.680
<v Speaker 1>backstopping the financing that underpins those data centers for the startup,

0:00:20.880 --> 0:00:24.040
<v Speaker 1>So underscoring that complex business ties among the handful of

0:00:24.120 --> 0:00:28.000
<v Speaker 1>largest tech companies pouring money into AI. Folks, it's AI's

0:00:28.000 --> 0:00:30.560
<v Speaker 1>world and we're just revolving around it. And that brings

0:00:30.600 --> 0:00:32.239
<v Speaker 1>us to our next guest. Let's get to it with

0:00:32.280 --> 0:00:35.279
<v Speaker 1>former US Secretary of Commerce Gino Rimondo. She served as

0:00:35.280 --> 0:00:38.080
<v Speaker 1>the fortieth US Secretary of Commerce and seventy fifth governor

0:00:38.159 --> 0:00:39.200
<v Speaker 1>of the state of Rhode Island.

0:00:39.280 --> 0:00:40.640
<v Speaker 2>She joins us from Washington, DC.

0:00:41.120 --> 0:00:43.280
<v Speaker 1>Secretary Rimondo is so nice to have you here with

0:00:43.400 --> 0:00:45.919
<v Speaker 1>Emily and myself. I want to get right to it

0:00:46.000 --> 0:00:50.440
<v Speaker 1>because I feel like every conversation we talk about artificial intelligence,

0:00:50.479 --> 0:00:53.760
<v Speaker 1>the build out, the spend, but increasingly about the impact

0:00:54.160 --> 0:00:56.800
<v Speaker 1>on the labor force globally and here in the United States.

0:00:56.920 --> 0:01:00.000
<v Speaker 1>You recently responded to a comment on x by Metaplase

0:01:00.120 --> 0:01:03.160
<v Speaker 1>from his vice chairman, Dina Powell. She was announcing Meta's

0:01:03.240 --> 0:01:06.399
<v Speaker 1>launch of a program to provide paid training, certification, and

0:01:06.440 --> 0:01:09.240
<v Speaker 1>a job for Americans of all backgrounds to be part

0:01:09.280 --> 0:01:13.080
<v Speaker 1>of building American leadership in the world. Your response, you say,

0:01:13.160 --> 0:01:16.240
<v Speaker 1>many Americans face a catch twenty two. They need training

0:01:16.280 --> 0:01:18.680
<v Speaker 1>to get a new, higher paying job, but they can't

0:01:18.680 --> 0:01:21.640
<v Speaker 1>go without pay to attend a training course, and that

0:01:21.720 --> 0:01:25.160
<v Speaker 1>this initiative aims to solve this problem with paid apprenticeships

0:01:25.200 --> 0:01:29.320
<v Speaker 1>and credentials that lead to actual available goods, good jobs.

0:01:29.360 --> 0:01:32.000
<v Speaker 1>I should say, when it comes to AI and the

0:01:32.040 --> 0:01:34.600
<v Speaker 1>impact on jobs, how do you see it? And is

0:01:34.640 --> 0:01:35.919
<v Speaker 1>META on the right track?

0:01:37.360 --> 0:01:39.440
<v Speaker 3>You know, well, first spoke, good afternoon, and thank you

0:01:39.480 --> 0:01:45.600
<v Speaker 3>for having me. I am an AI forward person. I

0:01:45.720 --> 0:01:49.000
<v Speaker 3>think that the US does and needs to continue to

0:01:49.160 --> 0:01:53.760
<v Speaker 3>lead in this global AI competition, and that means, of

0:01:53.800 --> 0:01:56.720
<v Speaker 3>course being ahead with the technology, but it also means

0:01:56.760 --> 0:01:59.840
<v Speaker 3>having a strategy for people, right. I mean, we're not

0:02:00.080 --> 0:02:02.120
<v Speaker 3>to win the global AIE race if we have great

0:02:02.160 --> 0:02:05.560
<v Speaker 3>technology and sky high unemployment, and so I think it's

0:02:05.600 --> 0:02:09.280
<v Speaker 3>time for the country to get very serious about changing

0:02:09.320 --> 0:02:13.000
<v Speaker 3>the way we support people when they change jobs, and

0:02:13.040 --> 0:02:14.120
<v Speaker 3>the way we train people.

0:02:14.800 --> 0:02:15.880
<v Speaker 2>And the thing that I.

0:02:16.080 --> 0:02:19.920
<v Speaker 3>Like about because we have to bring all Americans along.

0:02:20.560 --> 0:02:23.400
<v Speaker 3>This cannot just be AI for the big tech and

0:02:23.720 --> 0:02:27.040
<v Speaker 3>not bring everyone along. And so with this announcement, as

0:02:27.080 --> 0:02:30.919
<v Speaker 3>I understand, you know what MET is doing here.

0:02:31.320 --> 0:02:32.400
<v Speaker 2>The thing I really liked.

0:02:32.280 --> 0:02:36.680
<v Speaker 3>About it was they're paying people while they do the training.

0:02:37.200 --> 0:02:39.280
<v Speaker 3>And I know from when I was governor, I was

0:02:39.720 --> 0:02:43.680
<v Speaker 3>a leader and a lot of these apprenticeship and training programs.

0:02:44.200 --> 0:02:49.600
<v Speaker 3>People can't afford to do a six week or six

0:02:49.680 --> 0:02:53.400
<v Speaker 3>month training program and not get paid, right, They're not

0:02:53.440 --> 0:02:56.480
<v Speaker 3>going to finish that training program. So to the extent

0:02:56.600 --> 0:02:58.800
<v Speaker 3>I've heard about this, like you said, I read about

0:02:58.800 --> 0:02:59.440
<v Speaker 3>it yesterday.

0:02:59.880 --> 0:03:00.760
<v Speaker 2>I think it's first.

0:03:00.800 --> 0:03:03.920
<v Speaker 3>I think it's good that companies in America are stepping

0:03:04.000 --> 0:03:07.400
<v Speaker 3>up to say let's get innovative and try to support workers.

0:03:07.680 --> 0:03:10.560
<v Speaker 3>But I think it's important to say we're going to

0:03:10.639 --> 0:03:13.600
<v Speaker 3>pay you while you get trained, and if you graduate,

0:03:13.639 --> 0:03:15.760
<v Speaker 3>and if you get your credential, there will be a

0:03:15.880 --> 0:03:16.400
<v Speaker 3>job at.

0:03:16.320 --> 0:03:17.280
<v Speaker 2>The end of that training.

0:03:17.919 --> 0:03:20.119
<v Speaker 4>Sectre. You wrote a guest essay for The New York

0:03:20.120 --> 0:03:24.279
<v Speaker 4>Times earlier this year. It was entitled America cannot withstand

0:03:24.320 --> 0:03:29.000
<v Speaker 4>the economic shock that's coming. What do you think the country?

0:03:29.040 --> 0:03:32.720
<v Speaker 4>The Trump administration and lallmakers from both parties really need

0:03:32.760 --> 0:03:37.200
<v Speaker 4>to do to address this very much feared economic and

0:03:38.200 --> 0:03:42.520
<v Speaker 4>labor disruption that AI is expected to unleash.

0:03:43.040 --> 0:03:45.560
<v Speaker 3>We have to prepare for it. I think it is

0:03:45.640 --> 0:03:50.560
<v Speaker 3>a transition. I do believe AI will create new jobs.

0:03:51.240 --> 0:03:57.000
<v Speaker 3>Every technology has created disruption and job loss, but over time,

0:03:57.440 --> 0:04:01.360
<v Speaker 3>new jobs, new industries, many many, many, many millions of

0:04:01.440 --> 0:04:06.200
<v Speaker 3>jobs in our economy today did not exist even you know,

0:04:06.280 --> 0:04:07.360
<v Speaker 3>twenty thirty years ago.

0:04:07.520 --> 0:04:09.600
<v Speaker 2>So I think we're going to get to that place.

0:04:10.040 --> 0:04:14.040
<v Speaker 3>However, there will be a transition, and I worry that

0:04:14.200 --> 0:04:18.520
<v Speaker 3>during that transition, if we're not thoughtful and purposeful, too

0:04:18.560 --> 0:04:21.640
<v Speaker 3>many Americans could be on the losing end of that transition.

0:04:22.400 --> 0:04:25.359
<v Speaker 3>And so we need to get very serious right now

0:04:25.839 --> 0:04:29.400
<v Speaker 3>and create new training initiatives like the one we're talking about.

0:04:29.440 --> 0:04:32.000
<v Speaker 2>But that is not enough. Training is not enough.

0:04:32.360 --> 0:04:37.200
<v Speaker 3>We need new incentives for companies to redeploy people. We

0:04:37.279 --> 0:04:39.880
<v Speaker 3>need new you know, like a new safety net to

0:04:39.920 --> 0:04:43.039
<v Speaker 3>help people transition from one job to the next. And

0:04:43.120 --> 0:04:45.880
<v Speaker 3>so I think this calls for some pretty urgent action

0:04:46.480 --> 0:04:49.560
<v Speaker 3>with the government, with employers, you know, with an all

0:04:49.560 --> 0:04:53.120
<v Speaker 3>hands on deck moment, to create a people strategy to

0:04:53.160 --> 0:04:54.440
<v Speaker 3>get us through this transition.

0:04:55.480 --> 0:04:58.960
<v Speaker 1>You know it's a US race, it's a global race,

0:04:59.000 --> 0:05:01.040
<v Speaker 1>and I think about what TO is doing. They made

0:05:01.440 --> 0:05:03.520
<v Speaker 1>some steps today in terms of being all in, and

0:05:03.520 --> 0:05:06.760
<v Speaker 1>they do things differently as we know in China, Secretary

0:05:06.760 --> 0:05:09.640
<v Speaker 1>of Mondo. So I'm just curious if we don't get

0:05:09.640 --> 0:05:12.640
<v Speaker 1>this right in terms of how we are approaching it

0:05:12.920 --> 0:05:15.120
<v Speaker 1>and protecting our labor force, but at the same time

0:05:15.160 --> 0:05:17.200
<v Speaker 1>making sure that we are making the right investments and

0:05:17.200 --> 0:05:19.920
<v Speaker 1>moves when it comes to AI. When you've got China

0:05:20.000 --> 0:05:23.520
<v Speaker 1>and the government in their deep pocket, will that put

0:05:23.560 --> 0:05:27.119
<v Speaker 1>potentially the US at a disadvantage in many ways.

0:05:27.240 --> 0:05:28.119
<v Speaker 2>Yes, it will.

0:05:28.600 --> 0:05:32.880
<v Speaker 3>I've spent as much time as anyone thinking about how

0:05:32.920 --> 0:05:37.600
<v Speaker 3>to protect America from China and how to compete with

0:05:37.680 --> 0:05:43.159
<v Speaker 3>China technologically, economically, militarily, and we need to do both.

0:05:44.360 --> 0:05:47.800
<v Speaker 2>I personally oppose, you know, over.

0:05:47.640 --> 0:05:51.080
<v Speaker 3>Regulating AI or regulating the technology to a point that

0:05:51.160 --> 0:05:52.520
<v Speaker 3>it would stifle innovation.

0:05:53.760 --> 0:05:56.839
<v Speaker 2>Again, I want America to lead.

0:05:57.600 --> 0:06:02.240
<v Speaker 3>However, I also would oppose putting our blinders on and

0:06:02.760 --> 0:06:05.599
<v Speaker 3>letting AI out into the world without a plan for

0:06:05.680 --> 0:06:07.159
<v Speaker 3>our workforce.

0:06:07.240 --> 0:06:11.320
<v Speaker 2>Because truthfully, if we do that, and if we wound

0:06:11.400 --> 0:06:15.640
<v Speaker 2>up with extremely high unemployment, we won't win the AI

0:06:15.760 --> 0:06:17.320
<v Speaker 2>race with China. We won't.

0:06:17.640 --> 0:06:22.800
<v Speaker 3>We will then have political unrest, economic unrest, deep recession,

0:06:23.200 --> 0:06:27.039
<v Speaker 3>and frankly, a regulatory backlash. So I see no other

0:06:27.120 --> 0:06:33.040
<v Speaker 3>alternative than to do both. To win, on the technology,

0:06:33.600 --> 0:06:38.360
<v Speaker 3>to innovate, on the workforce models and the transition models

0:06:38.360 --> 0:06:39.520
<v Speaker 3>and the support models.

0:06:40.760 --> 0:06:41.600
<v Speaker 2>We can do it.

0:06:41.800 --> 0:06:45.280
<v Speaker 3>America has consistently risen to the challenge in the face

0:06:45.400 --> 0:06:49.000
<v Speaker 3>of these big challenges before, and if everybody works together,

0:06:49.040 --> 0:06:49.880
<v Speaker 3>we can do it again.

0:06:50.400 --> 0:06:52.800
<v Speaker 1>You talk about America leading when it comes to AI,

0:06:53.000 --> 0:06:56.440
<v Speaker 1>that means we need really great leadership. Boston Globe Today

0:06:56.480 --> 0:06:58.960
<v Speaker 1>reporting that you are no longer considering running for president

0:06:59.000 --> 0:07:01.600
<v Speaker 1>in twenty twenty eight. What do you want to see

0:07:01.600 --> 0:07:04.840
<v Speaker 1>from a presidential candidate and could you possibly reconsider your

0:07:04.839 --> 0:07:06.400
<v Speaker 1>own ambissions.

0:07:07.200 --> 0:07:10.320
<v Speaker 3>I'm smiling because no matter what interview I do, it

0:07:10.360 --> 0:07:11.880
<v Speaker 3>inevitably gets to that question.

0:07:12.120 --> 0:07:14.280
<v Speaker 1>People have said to me they want a leader like

0:07:14.320 --> 0:07:15.480
<v Speaker 1>you when it comes.

0:07:15.200 --> 0:07:17.840
<v Speaker 2>To that's very kind.

0:07:18.120 --> 0:07:22.040
<v Speaker 3>That is, you know, years away, which in politics might

0:07:22.040 --> 0:07:25.239
<v Speaker 3>as well be decades. Look, since I've been out of government,

0:07:25.360 --> 0:07:28.560
<v Speaker 3>this is the issue I've been focused on. I am

0:07:29.760 --> 0:07:33.880
<v Speaker 3>fortunate to have the credibility in the business community. I

0:07:33.960 --> 0:07:36.280
<v Speaker 3>was the Secretary of Commerce when AI, when.

0:07:36.200 --> 0:07:39.760
<v Speaker 2>Chat GBT was released. So I have, you.

0:07:39.680 --> 0:07:43.600
<v Speaker 3>Know, great credibility with all the tech leaders. I believe

0:07:43.640 --> 0:07:47.360
<v Speaker 3>them by partisanship. I work with Republicans and Democrats. So

0:07:47.440 --> 0:07:51.000
<v Speaker 3>what I'm focused on is how do I work really

0:07:51.000 --> 0:07:54.200
<v Speaker 3>at the state level where things can happen with governors

0:07:54.200 --> 0:07:59.480
<v Speaker 3>of both parties. You know, with companies like Listen, it's

0:07:59.480 --> 0:08:03.000
<v Speaker 3>in no company's interest to have a deep recession and

0:08:03.080 --> 0:08:04.480
<v Speaker 3>fifteen percent unemployment.

0:08:04.840 --> 0:08:08.920
<v Speaker 2>So any ceo, a CEO today has to do two things.

0:08:09.600 --> 0:08:13.320
<v Speaker 3>Implement AI and get in the boat to figure out

0:08:13.320 --> 0:08:16.320
<v Speaker 3>a people transition. And so that's what I'm devoting my

0:08:16.360 --> 0:08:18.720
<v Speaker 3>time and attention to because I think it's what the

0:08:18.720 --> 0:08:20.720
<v Speaker 3>country needs, and I think I'm well positioned to work

0:08:20.720 --> 0:08:21.440
<v Speaker 3>on that issue.

0:08:21.440 --> 0:08:23.400
<v Speaker 1>We know you have to run twenty seconds. Then what

0:08:23.440 --> 0:08:25.320
<v Speaker 1>do you think we need though in a presidential candidate,

0:08:25.440 --> 0:08:28.760
<v Speaker 1>considering the AI backdrop and all that's facing us real quickly.

0:08:29.840 --> 0:08:34.160
<v Speaker 3>A serious person, a serious person who can work with anyone,

0:08:34.240 --> 0:08:37.000
<v Speaker 3>will work with anyone, go anywhere, do whatever it takes

0:08:37.040 --> 0:08:41.880
<v Speaker 3>to solve americans problems, rebuild a middle class, and revive

0:08:42.120 --> 0:08:47.679
<v Speaker 3>the American dream, which is work hard, get ahead, including

0:08:47.720 --> 0:08:49.079
<v Speaker 3>in business all.

0:08:49.080 --> 0:08:49.840
<v Speaker 2>Right, Going to leave it there.

0:08:49.920 --> 0:08:52.400
<v Speaker 1>The door's always open. We'd love to talk to you further,

0:08:52.520 --> 0:08:57.120
<v Speaker 1>so come back whenever. Gina Raymondo fortieth US Secretary of Commerce,

0:08:57.120 --> 0:08:59.760
<v Speaker 1>of course under President Biden, and the seventy fifth Governor

0:08:59.760 --> 0:09:01.240
<v Speaker 1>of the state of Rhode Island