Speaker 1: Bloomberg Audio Studios, podcasts, radio news, single best idea and
Speaker 1: today we focus on one voice and it was a
Speaker 1: phenomenal day, all sorts of good people to talk to.
Speaker 1: Dan Ives was on with Webbush and he was just
Speaker 1: blistering about the significance of this Oracle move. To summarize
Speaker 1: here and not take a lot of time on it.
Speaker 1: Oracle leapt over thirty percent today on the market opening.
Speaker 1: I said this on air. I'll say it again. I
Speaker 1: have never seen a blue chip stock leap have a
Speaker 1: complete restructure reanalysis. After what we saw from Oracle last evening, profound,
Speaker 1: profound performance. I should mention for clarity, Oracle is one
Speaker 1: of the good sponsors of Bloomberg Surveillance. We thank them
Speaker 1: for that support. But that's just a stunning, stunning moment,
Speaker 1: and many others as well. All Senator on Annawan's important
Speaker 1: Bloomberg Economics essay, saying, look, the employment revision yesterday, Guess
Speaker 1: what it means. We've been in some form of recession
Speaker 1: going back to the spring of twenty twenty four. She
Speaker 1: finishes her note by saying, well, things look better now.
Speaker 1: Maybe we're at the beginning of a more constructive business cycle.
Speaker 1: What a treat today to have in from McKinsey Global Institute,
Speaker 1: Michael Cheua, he's out of Stanford and at Indiana did
Speaker 1: absolutely definitive academics on what we do every day, which
Speaker 1: is search. Michael Chewa of McKenzie on search.
Speaker 2: For several years, you know, AI usage, a regular usage
Speaker 2: of AI had sort of plateaued around fifty percent, you know,
Speaker 2: since the advent of jenerative AI chatchypt Claude Gemini, and
Speaker 2: it's like, you know, that is really accelerated. And now
Speaker 2: we see about ninety percent of the companies in our
Speaker 2: survey saying that they're using A regularly. At the same time,
Speaker 2: the majority are not saying it's having a significant impact
Speaker 2: on its EBIT yet. But what we do see is
Speaker 2: that the individual use case or business function level, it's
Speaker 2: starting to create real value. And so what we say
Speaker 2: is that's a process. To your point about industries, Yeah,
Speaker 2: the tech industry, for instance, has moved ahead. But in fact,
Speaker 2: rather than an industry having quote unquote figured it out,
Speaker 2: what we're finding is lots of variation within industries. And
Speaker 2: so again the companies that have figured out how to
Speaker 2: rewire themselves right, whether it's travel and logistics or high tech,
Speaker 2: they're just accelerating past their competitors.
Speaker 1: We continue with Michael Cheua of Stanford, of Indiana, of
Speaker 1: McKenzie and basically, if to a dummy like me, it's like, okay,
Speaker 1: late nineteen ninety four, early nineteen ninety five, a revolution
Speaker 1: Tua on the view forward.
Speaker 2: I think one of the interesting things, and it's a
Speaker 2: bit of a the you know, a debate within the
Speaker 2: artificial intelligence community. A lot of the excitement now is
Speaker 2: with these quote unquote neural network models, and that's underpinning
Speaker 2: a lot of what you know, we currently often describe
Speaker 2: as AI. But you know, AI started in the nineteen fifties,
Speaker 2: or the term was invented in the nineteen fifty five,
Speaker 2: and for a lot of that time, you know, the term,
Speaker 2: you know, symbolic systems at Stanford comes from using logic,
Speaker 2: using this way that we've managed to formalize reasoning. You know,
Speaker 2: one of the things that people who use neural network
Speaker 2: models are trying to do are trying to make it
Speaker 2: reason better. But we also had all these other types
Speaker 2: of symbolic ways of reasoning, and I think we're also
Speaker 2: starting to see the hybrid models, and so I think
Speaker 2: what we're seeing is, you know, history again, doesn't repeat itself,
Speaker 2: but it does come back. We've had these debates about
Speaker 2: what the best way to create AI has been, and
Speaker 2: that's moving forward.
Speaker 1: Mackenzie gives great access to those reports. Go to Mackenzie
Speaker 1: and look for the report in March an Artificial Intelligence
Speaker 1: AI with, among others, Michael Chew. We're on podcasts right Apple,
Speaker 1: We're on spotif hand YouTube podcast. It's single best idea.
Speaker 1: Hm