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Speaker 1: Bloomberg Audio Studios, podcasts, radio news, single best idea and

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Speaker 1: today we focus on one voice and it was a

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Speaker 1: phenomenal day, all sorts of good people to talk to.

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Speaker 1: Dan Ives was on with Webbush and he was just

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Speaker 1: blistering about the significance of this Oracle move. To summarize

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Speaker 1: here and not take a lot of time on it.

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Speaker 1: Oracle leapt over thirty percent today on the market opening.

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Speaker 1: I said this on air. I'll say it again. I

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Speaker 1: have never seen a blue chip stock leap have a

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Speaker 1: complete restructure reanalysis. After what we saw from Oracle last evening, profound,

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Speaker 1: profound performance. I should mention for clarity, Oracle is one

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Speaker 1: of the good sponsors of Bloomberg Surveillance. We thank them

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Speaker 1: for that support. But that's just a stunning, stunning moment,

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Speaker 1: and many others as well. All Senator on Annawan's important

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Speaker 1: Bloomberg Economics essay, saying, look, the employment revision yesterday, Guess

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Speaker 1: what it means. We've been in some form of recession

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Speaker 1: going back to the spring of twenty twenty four. She

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Speaker 1: finishes her note by saying, well, things look better now.

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Speaker 1: Maybe we're at the beginning of a more constructive business cycle.

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Speaker 1: What a treat today to have in from McKinsey Global Institute,

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Speaker 1: Michael Cheua, he's out of Stanford and at Indiana did

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Speaker 1: absolutely definitive academics on what we do every day, which

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Speaker 1: is search. Michael Chewa of McKenzie on search.

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Speaker 2: For several years, you know, AI usage, a regular usage

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Speaker 2: of AI had sort of plateaued around fifty percent, you know,

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Speaker 2: since the advent of jenerative AI chatchypt Claude Gemini, and

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Speaker 2: it's like, you know, that is really accelerated. And now

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Speaker 2: we see about ninety percent of the companies in our

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Speaker 2: survey saying that they're using A regularly. At the same time,

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Speaker 2: the majority are not saying it's having a significant impact

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Speaker 2: on its EBIT yet. But what we do see is

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Speaker 2: that the individual use case or business function level, it's

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Speaker 2: starting to create real value. And so what we say

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Speaker 2: is that's a process. To your point about industries, Yeah,

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Speaker 2: the tech industry, for instance, has moved ahead. But in fact,

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Speaker 2: rather than an industry having quote unquote figured it out,

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Speaker 2: what we're finding is lots of variation within industries. And

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Speaker 2: so again the companies that have figured out how to

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Speaker 2: rewire themselves right, whether it's travel and logistics or high tech,

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Speaker 2: they're just accelerating past their competitors.

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Speaker 1: We continue with Michael Cheua of Stanford, of Indiana, of

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Speaker 1: McKenzie and basically, if to a dummy like me, it's like, okay,

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Speaker 1: late nineteen ninety four, early nineteen ninety five, a revolution

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Speaker 1: Tua on the view forward.

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Speaker 2: I think one of the interesting things, and it's a

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Speaker 2: bit of a the you know, a debate within the

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Speaker 2: artificial intelligence community. A lot of the excitement now is

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Speaker 2: with these quote unquote neural network models, and that's underpinning

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Speaker 2: a lot of what you know, we currently often describe

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Speaker 2: as AI. But you know, AI started in the nineteen fifties,

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Speaker 2: or the term was invented in the nineteen fifty five,

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Speaker 2: and for a lot of that time, you know, the term,

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Speaker 2: you know, symbolic systems at Stanford comes from using logic,

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Speaker 2: using this way that we've managed to formalize reasoning. You know,

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Speaker 2: one of the things that people who use neural network

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Speaker 2: models are trying to do are trying to make it

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Speaker 2: reason better. But we also had all these other types

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Speaker 2: of symbolic ways of reasoning, and I think we're also

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Speaker 2: starting to see the hybrid models, and so I think

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Speaker 2: what we're seeing is, you know, history again, doesn't repeat itself,

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Speaker 2: but it does come back. We've had these debates about

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Speaker 2: what the best way to create AI has been, and

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Speaker 2: that's moving forward.

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Speaker 1: Mackenzie gives great access to those reports. Go to Mackenzie

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Speaker 1: and look for the report in March an Artificial Intelligence

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Speaker 1: AI with, among others, Michael Chew. We're on podcasts right Apple,

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Speaker 1: We're on spotif hand YouTube podcast. It's single best idea.

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Speaker 1: Hm