WEBVTT - Trust Barometer Special Report on Health

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<v Speaker 1>Bloomberg Audio Studios, Podcasts.

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<v Speaker 2>Radio News.

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<v Speaker 1>You're listening to Bloomberg BusinessWeek with Carol Messer and Tim

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<v Speaker 1>Stenebek on Bloomberg Radio.

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<v Speaker 3>I don't know if you guys saw this in the

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<v Speaker 3>pharmaceutical industry today, Snofi is going to pay more than

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<v Speaker 3>one hundred million dollars to settle about four thousand lawsuits

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<v Speaker 3>accusing the drug maker of failing to warn users that

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<v Speaker 3>at Zantac heartburn med could cause cancer. This according to

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<v Speaker 3>people familiar with the deal cited by Bloomberg. Remember Zantak

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<v Speaker 3>was recalled back in twenty nineteen. It was a month

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<v Speaker 3>after an independent lab announced publicly it found the likely

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<v Speaker 3>carc carcinogen and DMA, and the drug US regulators confirm

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<v Speaker 3>the findings in April of twenty twenty and ordered the

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<v Speaker 3>medicine off the market, no longer sold.

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<v Speaker 4>No, it's interesting a massive drug though that was out there.

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<v Speaker 4>I think my dad used to use it a lot.

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<v Speaker 4>The reason we're bringing this up is because the Global

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<v Speaker 4>Communications and Marketing from Edelman is that with its latest

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<v Speaker 4>Trust Barometer special report, which focuses on trust and health,

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<v Speaker 4>and the finding show that trust in healthcare companies is

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<v Speaker 4>declining not just in the United States, but also in Japan, Germany, India,

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<v Speaker 4>China and the eleven other countries Edelman Study. So back

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<v Speaker 4>with us as Richard Edelman, CEO of Edelman, joining us

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<v Speaker 4>here in New York City. Richard, great to have you

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<v Speaker 4>back with Tim and myself.

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<v Speaker 5>Hope you are well, happy passover.

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<v Speaker 4>Happy passover, and tell us a little bit about third

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<v Speaker 4>year in a row that you guys are looking at

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<v Speaker 4>trust and health, specifically that connection healthcare companies, which, by

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<v Speaker 4>the way, in the US fell from the trust to

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<v Speaker 4>distrust to do what is right. That really stood out

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<v Speaker 4>for us. Walk us through though what you guys look

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<v Speaker 4>at and what the finding was, and what jumped out

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<v Speaker 4>for you who have been tracking this for a while.

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<v Speaker 5>So, Carol, I think the big change this year is

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<v Speaker 5>the jump in health empowerment, which means that you know,

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<v Speaker 5>eighty plus percent of people believe that they are able

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<v Speaker 5>to take care of their own health. And that's a

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<v Speaker 5>big positive because it means that you know, they'll be

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<v Speaker 5>going to check their blood pressure or you know, get

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<v Speaker 5>information on their own. However, their trust in institutions in

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<v Speaker 5>health has plummeted, so trust in reporting about health or

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<v Speaker 5>trust in the CDC or the WHO has declined massively,

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<v Speaker 5>and it's a sort of maybe a PTSD from COVID

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<v Speaker 5>nineteen and so in a way, the result is a

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<v Speaker 5>little bit like the kid wants to drive the car

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<v Speaker 5>and you don't have drivers at and so you know,

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<v Speaker 5>it's great to be, you know, enabled, but you'll also

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<v Speaker 5>have to know the facts. And fifty five percent of

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<v Speaker 5>people in eighteen to thirty four said I've made a

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<v Speaker 5>bad health decision as a result of misinformation. Interesting, so

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<v Speaker 5>the outcome is not good, Richard.

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<v Speaker 3>Can we can we lump all of these institutions together,

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<v Speaker 3>the WHO, the CDC, and healthcare companies, because to me,

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<v Speaker 3>these are distinct entities.

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<v Speaker 5>They are distinct, and yet what people are seeing is

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<v Speaker 5>that they can't get the straight story. They don't they

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<v Speaker 5>don't get good quality information, and they are inclined to act.

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<v Speaker 5>They want to eat better, they want to live better.

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<v Speaker 5>Eighty five percent of the respondent said I could have

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<v Speaker 5>better health. That's positive. What's negative is they no longer

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<v Speaker 5>believe classing institutional forces. They do believe themselves, and they

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<v Speaker 5>believe their own doctors. And for the doctors, we've got

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<v Speaker 5>to give them time to talk to the patients about

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<v Speaker 5>the information, because otherwise they're just prescribing or just saying,

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<v Speaker 5>you know, do this, and the patients need to actually

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<v Speaker 5>test their theories with the doctor. He's the one or

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<v Speaker 5>she's the one person. I believe.

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<v Speaker 4>I'm curious. You know. One of the reasons we love

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<v Speaker 4>talking with you. There's many, but one of the reasons is,

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<v Speaker 4>you know, is that the CEOs, the leaders that you

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<v Speaker 4>are talked to, that you talk to on a regular

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<v Speaker 4>basis all different types of industries, including the healthcare industry.

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<v Speaker 4>I mean, I feel like this is one industry that

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<v Speaker 4>is lagging in disruption. We keep talking about how technology

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<v Speaker 4>should make it better. I think Tim and I both

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<v Speaker 4>know people who have become doctors. It takes a lot

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<v Speaker 4>of time, takes a lot of money, it's a lot

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<v Speaker 4>of work, and who are like, I want out and

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<v Speaker 4>it just is shocking. And I see the shortages and

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<v Speaker 4>get worried about, you know, an aging population, who's going

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<v Speaker 4>to take care of everybody. It's great, we have all

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<v Speaker 4>these medical innovations that keep people alive longer, but you're worried.

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<v Speaker 4>I don't know, I wonder if we're going to have

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<v Speaker 4>you know, the medical community there to take care of everybody.

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<v Speaker 4>What are you hearing from leaders you talk to in

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<v Speaker 4>the healthcare industry and even outside about kind of what's

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<v Speaker 4>going on in terms of health.

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<v Speaker 5>I think Carol, you're dead right about the number of

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<v Speaker 5>doctors retiring or opting out. We do have to rely

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<v Speaker 5>not just on them, though, but also on nurses and pharmacists,

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<v Speaker 5>the broader array of potential advisors to patients. But we

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<v Speaker 5>really have to reduce the administrative burden. Use AI to advantage,

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<v Speaker 5>make sure that the time spending spend on filling out

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<v Speaker 5>forms is just not valuable. That's just bureaucracy. Give them

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<v Speaker 5>time to talk to patients. That's why people go into

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<v Speaker 5>the medical provision to make people better.

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<v Speaker 3>I do wonder though, again, separating all the different entities

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<v Speaker 3>that you discuss in the trust barometer, there is this

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<v Speaker 3>one that sticks out first. How do you define healthcare companies?

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<v Speaker 3>Does that include insurers? Does it include pharmaceutical manufacturers? Who

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<v Speaker 3>does that include?

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<v Speaker 5>It's mostly pharma companies and the hospitals and people dealing directly.

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<v Speaker 3>Okay, very interesting. So I think it's interesting because a

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<v Speaker 3>couple of years ago we had a Bloomberg business we

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<v Speaker 3>cover story and it's sort of the height of the

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<v Speaker 3>pandemic when the vaccine companies had come out and Operation

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<v Speaker 3>Warps had worked and they'd created these vaccines, and it

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<v Speaker 3>was about how the idea that these companies went from

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<v Speaker 3>being so hated among consumers to loved among consumers because

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<v Speaker 3>they had created the vaccine. And I just wonder in

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<v Speaker 3>terms of the stakeholders who are out there, the shareholders,

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<v Speaker 3>the customers, I wonder how you sort of make sense

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<v Speaker 3>of these results, because I think a lot of people

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<v Speaker 3>would argue, well, you know, I do see these farmer

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<v Speaker 3>companies out there, and I'm just wondering, since they're for

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<v Speaker 3>profit companies, since they're responsible to stake to their shareholders

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<v Speaker 3>first and foremost is everyone's best interest there.

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<v Speaker 5>So I think the intrusion of politics into healthcare has

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<v Speaker 5>put a big damper on the sector, meaning that health

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<v Speaker 5>should not be politicized. Whether you're Trump or Biden, you

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<v Speaker 5>did the best you could during a really uncertain time,

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<v Speaker 5>and the outcome of health must not be something that

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<v Speaker 5>is used as a kind of political stick by the

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<v Speaker 5>other side. It should be off limits in the sense

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<v Speaker 5>that we want to take care of people, we want

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<v Speaker 5>to have them have good quality. I mean, polonization of

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<v Speaker 5>medical science is now more problematic as a fear than

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<v Speaker 5>affordability of care or concern about another pandemic. That tells

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<v Speaker 5>you something. People understand that stuff is being politicized. It's

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<v Speaker 5>why nobody trusts the information. And it's also why I

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<v Speaker 5>really believe we have to go through companies, for example,

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<v Speaker 5>a company's own newsletter, an NGO's newsletter. We've got to

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<v Speaker 5>use every possible means of educating the patients because they

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<v Speaker 5>feel really confused, and when they're confused, they're paralyzed well.

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<v Speaker 4>And we've got to chart up for those who are

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<v Speaker 4>watching on YouTube and Bloomberger originals. Maybe we can bring

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<v Speaker 4>it back up for everybody, Elizabeth, But it's just interesting

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<v Speaker 4>that four and ten young people will only trust providers

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<v Speaker 4>aligned with their politics. So that's pretty amazing. So forty

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<v Speaker 4>one percent age eighty eighteen to thirty four, thirty five

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<v Speaker 4>percent thirty five to fifty four, and about eighteen percent

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<v Speaker 4>fifty five plus. I got to tell you, I don't

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<v Speaker 4>think I ever know the politics for the most part.

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<v Speaker 4>There's been some doctors in my life, you know, who've

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<v Speaker 4>been there for many, many years, and we get to

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<v Speaker 4>know each other, and so then we sometimes will go

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<v Speaker 4>and have some you know, conversations that go in different areas.

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<v Speaker 4>But for the most part, I have no idea.

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<v Speaker 1>Do you ever know, No, it's.

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<v Speaker 3>Never occurred to me, Richard, what do you say to that?

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<v Speaker 5>But Carol again, think about it. So, oh so I

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<v Speaker 5>hear this doctor is a trumpert. Therefore, you know, I'm

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<v Speaker 5>a liberal Democrat. Therefore he must be in favor of

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<v Speaker 5>hydroxychloroquine or some other thing magic cures. You can see

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<v Speaker 5>how that happens. It should not be in the doctor's office.

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<v Speaker 5>It should be what do you have, what's the best

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<v Speaker 5>way of curing this, and here's the science. Let's talk

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<v Speaker 5>about it, agreed, and that's the best way.

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<v Speaker 4>Yeah. It's just interesting though, man, I'm always some fascinating findings. Richard,

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<v Speaker 4>good to check in with you again. I hope Paul

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<v Speaker 4>as well. Richard Edelman, chief executive officer of Edelman joining

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<v Speaker 4>us there in New York City. But interesting, I will

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<v Speaker 4>say that there are a couple of doctors that've been

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<v Speaker 4>with for a long time and then you kind of

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<v Speaker 4>get an idea of how they're feeling. But I'm like,

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<v Speaker 4>great doctor, I'm Okay, I just ignore it.

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<v Speaker 3>I don't ever encounter that they don't do. How do

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<v Speaker 3>you spend it? I can't spend enough time with doctors.

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<v Speaker 3>They're in and out.

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<v Speaker 4>Do you have any do doctors that had been in

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<v Speaker 4>your life for a long time.

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<v Speaker 3>Or you get to kind of friends. But yeah, no,

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<v Speaker 3>I mean I feel like we don't get time with

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<v Speaker 3>doctors these days. You're in and out.

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<v Speaker 4>I have a couple of doctors, and that's why I

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<v Speaker 4>stay with them.

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<v Speaker 1>This is Bloomberg Business Week inside from the reporters and

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<v Speaker 1>editors who bring you America's most trusted business magazine, plus

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<v Speaker 1>global business, finance and tech news as it happens. Bloomberg

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<v Speaker 1>Business Week with Carol Messer and Tim Steneveek on Bloomberg Radio.

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<v Speaker 3>It is Bloomberg Business Week. You just mentioned this, but

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<v Speaker 3>it's worth repeating because I think it's really interesting the

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<v Speaker 3>way it moved in video stock today, soft Bank investing

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<v Speaker 3>one hundred and fifty billion yen it's about nine hundred

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<v Speaker 3>and seventy billion dollars by twenty twenty five to boost

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<v Speaker 3>its computing power for generative AI and buying equipment from

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<v Speaker 3>in Video for it.

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<v Speaker 4>Yeah, it's pretty amazing. I think you mean nine hundred

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<v Speaker 4>and seventy million, isn't it? Yes, thank you, that's okay,

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<v Speaker 4>nearly a billion dollars. N hundred and seventy billion, man,

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<v Speaker 4>that's a lot, thank you.

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<v Speaker 3>I was doing it, has doing some currency conversion in

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<v Speaker 3>my head.

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<v Speaker 4>Tim does that, he does do it. Don't go there,

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<v Speaker 4>all right, So let's get to it with some thoughts

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<v Speaker 4>on AI, which is something that it feels like creeps

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<v Speaker 4>into every conversation we do, and what it means specifically

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<v Speaker 4>to our workflow and to our world. Back with us.

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<v Speaker 4>As the CEO and founder of Creatio, Catherine Costa Riva

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<v Speaker 4>is with us. This company, by the way, it's a

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<v Speaker 4>CRM or what we call customer relationship management company, and

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<v Speaker 4>it sells software that automates workflows. Catherine joining us on

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<v Speaker 4>Zoom from Boston. Nice to have you back with us.

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<v Speaker 4>Tell us about your world. I think it was back

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<v Speaker 4>in August, so it's been a few months. How is

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<v Speaker 4>your world changed? Tell us what's going on and updates

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<v Speaker 4>on everything.

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<v Speaker 2>Hello, Hello, Carol team. It's very nice to be here again,

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<v Speaker 2>and thank you very much for having me. Listen. Things

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<v Speaker 2>are changing very rapidly. I could put it this way, and.

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<v Speaker 4>We are here extremely.

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<v Speaker 2>Excited about the opportunity to combine no code applications and AI.

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<v Speaker 2>If you remember this conversation back in August when we

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<v Speaker 2>discussed this power and magic of no code. When non

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<v Speaker 2>professional software developers can build their own applications and automate

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<v Speaker 2>their workflows, AI makes them extremely more productive and efficient

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<v Speaker 2>as they develop their own apps. So no code and

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<v Speaker 2>AI together, that's the new future for us.

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<v Speaker 3>Remind everyone who doesn't remember our interview with you back

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<v Speaker 3>in August or listening then, what no code and low

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<v Speaker 3>code are and the way that we see the manifest

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<v Speaker 3>start today.

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<v Speaker 2>Sure were happy, happy to do that. Listen. Not many

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<v Speaker 2>people know, but in the world there are twenty five

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<v Speaker 2>million software developers professional software developers. And when you think

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<v Speaker 2>about this number, it sounds like a big number, right,

0:12:20.080 --> 0:12:23.079
<v Speaker 2>twenty five million people. And by the way, the population

0:12:23.160 --> 0:12:27.280
<v Speaker 2>of software developers is growing like four percent year over year.

0:12:27.880 --> 0:12:31.200
<v Speaker 2>But when you think about the number of workflows and

0:12:31.440 --> 0:12:34.880
<v Speaker 2>applications that need to be automated in the enterprises, in

0:12:34.960 --> 0:12:38.640
<v Speaker 2>the companies like Bluebird for example, or any other company

0:12:38.640 --> 0:12:43.040
<v Speaker 2>out there, there are hundreds of millions of applications that

0:12:43.160 --> 0:12:45.920
<v Speaker 2>need to be built and automated. So when you do

0:12:46.000 --> 0:12:49.320
<v Speaker 2>your mass you easily understand that twenty five million software

0:12:49.320 --> 0:12:53.000
<v Speaker 2>developers is obviously not enough to automate to satisfy the

0:12:53.080 --> 0:12:57.319
<v Speaker 2>demand of five hundred million apps that need to be automated.

0:12:57.840 --> 0:13:01.360
<v Speaker 2>So to resolve this problem, no code comes into play,

0:13:01.760 --> 0:13:07.319
<v Speaker 2>and we engage knowledge workers, people actually like yourself, professionals

0:13:07.400 --> 0:13:12.400
<v Speaker 2>in different jobs and areas other than software developers, to

0:13:12.559 --> 0:13:16.559
<v Speaker 2>automate your own workflows, because who knows your workflows better

0:13:16.600 --> 0:13:19.680
<v Speaker 2>than you know them? So you can drag and drop

0:13:19.760 --> 0:13:24.360
<v Speaker 2>and actually develop your own application, your own workflow management

0:13:24.400 --> 0:13:28.920
<v Speaker 2>application to automate the workflow in your organization. And it

0:13:28.960 --> 0:13:32.320
<v Speaker 2>could be a front office application like sales management, market

0:13:32.320 --> 0:13:35.800
<v Speaker 2>and automation, service management, you name it. But also it

0:13:35.840 --> 0:13:38.840
<v Speaker 2>could be middle office or even back office operations like

0:13:39.400 --> 0:13:43.360
<v Speaker 2>HR workflows or any document management workflow. So we're talking

0:13:43.360 --> 0:13:47.959
<v Speaker 2>about the workflows, enterprojects and automation through knowledge workers.

0:13:48.040 --> 0:13:50.080
<v Speaker 4>Catherine, I thought, you know, all the SaaS companies have

0:13:50.120 --> 0:13:51.800
<v Speaker 4>been doing this for a while long time, so help

0:13:51.840 --> 0:13:55.240
<v Speaker 4>me understand what the difference is. I mean in terms

0:13:55.280 --> 0:14:00.760
<v Speaker 4>of how generative AIS and machine learning is going to

0:14:01.040 --> 0:14:04.439
<v Speaker 4>help you know, work with all of us, because again,

0:14:04.480 --> 0:14:08.599
<v Speaker 4>we've been automated, automating back office, a lot of operations

0:14:09.000 --> 0:14:10.640
<v Speaker 4>to do a lot of the jobs that used to

0:14:10.679 --> 0:14:12.680
<v Speaker 4>be done by humans. Pick up a phone and you

0:14:12.760 --> 0:14:15.720
<v Speaker 4>call any institution, takes a while to actually get to

0:14:15.720 --> 0:14:17.640
<v Speaker 4>a human for the most part, because so many things

0:14:17.679 --> 0:14:22.360
<v Speaker 4>are being automated. So help me understand in our general lives,

0:14:22.480 --> 0:14:26.720
<v Speaker 4>work and play, how this kind of could impact us.

0:14:26.760 --> 0:14:28.200
<v Speaker 4>Be as specific as you can, because I think that

0:14:28.240 --> 0:14:31.359
<v Speaker 4>helps us really understand what the difference between the automated

0:14:31.400 --> 0:14:34.240
<v Speaker 4>world we've been living in for some time already and

0:14:34.520 --> 0:14:38.120
<v Speaker 4>what it means when we use jen Ai and it

0:14:38.160 --> 0:14:39.560
<v Speaker 4>takes us to a whole other level.

0:14:40.480 --> 0:14:44.240
<v Speaker 2>Brilliant, And that's a brilliant question, Carol. Let's let's talk

0:14:44.280 --> 0:14:47.280
<v Speaker 2>with no code itself and then add AI on top

0:14:47.360 --> 0:14:50.240
<v Speaker 2>of it. So when you think about those workflows that

0:14:50.280 --> 0:14:56.400
<v Speaker 2>you just mentioned, Carol, on average, it takes waters months

0:14:56.440 --> 0:14:59.720
<v Speaker 2>to automate any workflow you just mentioned when when you

0:14:59.760 --> 0:15:03.160
<v Speaker 2>were asking the question, like we're talking about long period

0:15:03.200 --> 0:15:06.080
<v Speaker 2>of time. And then think about the reality, just the

0:15:06.120 --> 0:15:08.600
<v Speaker 2>news that you just brought to all of us. The

0:15:08.640 --> 0:15:11.560
<v Speaker 2>world is changing so fast and you need to adapt

0:15:11.600 --> 0:15:14.280
<v Speaker 2>and you need to change those processes as fast as

0:15:14.320 --> 0:15:17.200
<v Speaker 2>the world is changing. And if it takes you months

0:15:17.440 --> 0:15:21.880
<v Speaker 2>or quarters or sometimes years to automate one workflow, how

0:15:21.920 --> 0:15:24.400
<v Speaker 2>fast can you actually change it? And this is the

0:15:24.440 --> 0:15:27.640
<v Speaker 2>beauty of no code when you can change your workflows

0:15:27.640 --> 0:15:31.240
<v Speaker 2>on the fly, not being a professional software developer. Now

0:15:31.280 --> 0:15:34.160
<v Speaker 2>to your question, when we add AI on top of it,

0:15:34.480 --> 0:15:40.120
<v Speaker 2>you can actually ask your no code application like creation. Listen,

0:15:40.400 --> 0:15:46.920
<v Speaker 2>I need to automate the healthcare customer service workflow and

0:15:47.040 --> 0:15:50.600
<v Speaker 2>provide some specifics and you just define, You talk to

0:15:50.640 --> 0:15:54.760
<v Speaker 2>the application, and you give instructions what exactly you want

0:15:54.800 --> 0:15:58.680
<v Speaker 2>to build out there, and AI builds it for you. Obviously,

0:15:58.760 --> 0:16:00.960
<v Speaker 2>at the current point of time, this is not a

0:16:01.080 --> 0:16:06.640
<v Speaker 2>very sophisticated application with thousands of fields and workflows behind it,

0:16:06.840 --> 0:16:11.120
<v Speaker 2>but that's a very very solid foundation. So actually AI

0:16:11.600 --> 0:16:16.680
<v Speaker 2>builds this application or automates this workflow instead of the humans,

0:16:17.040 --> 0:16:21.520
<v Speaker 2>and then humans like ourselves, non professional software developers, they

0:16:21.680 --> 0:16:25.800
<v Speaker 2>twike it. They add fields, they add logics, they add dashboards,

0:16:25.800 --> 0:16:29.040
<v Speaker 2>they add workflow, so they tweak the application that was

0:16:29.080 --> 0:16:31.760
<v Speaker 2>built by AI. And that is why I'm saying that

0:16:31.880 --> 0:16:36.600
<v Speaker 2>the synergy of no code and AI is so powerful

0:16:36.680 --> 0:16:40.280
<v Speaker 2>because actually AI augments our work.

0:16:40.280 --> 0:16:44.560
<v Speaker 3>Right speak, Catherine eraises the question that I think a

0:16:44.560 --> 0:16:47.720
<v Speaker 3>lot of people have about to what extent you know,

0:16:47.800 --> 0:16:50.800
<v Speaker 3>jobs are at risk here for people who are coders

0:16:50.800 --> 0:16:52.200
<v Speaker 3>out there, and it's something that we ask a lot

0:16:52.240 --> 0:16:53.640
<v Speaker 3>of our guests. I mean, how do you look at this?

0:16:55.000 --> 0:16:58.040
<v Speaker 2>Listen. I have a very very strong position here. It

0:16:58.480 --> 0:17:01.840
<v Speaker 2>augments our lives. Okay, it makes actually us much more

0:17:01.840 --> 0:17:03.920
<v Speaker 2>efficient and productively.

0:17:03.640 --> 0:17:05.760
<v Speaker 3>View all of the programmer jobs.

0:17:06.720 --> 0:17:09.760
<v Speaker 2>Listen, There's going to be some areas where it's going

0:17:09.840 --> 0:17:12.960
<v Speaker 2>to be a replacement, but replacement for good because when

0:17:13.000 --> 0:17:15.439
<v Speaker 2>you are not doing a routine job that can be

0:17:15.480 --> 0:17:18.920
<v Speaker 2>easily done by AI, you will be doing more intelligent

0:17:19.040 --> 0:17:22.439
<v Speaker 2>work that will actually make you even more valuable on

0:17:22.480 --> 0:17:25.399
<v Speaker 2>the market. So you as a professional are going to

0:17:25.520 --> 0:17:28.399
<v Speaker 2>be growing in your skills because you will need to

0:17:28.440 --> 0:17:32.320
<v Speaker 2>do more advanced work because all the routine jobs will

0:17:32.320 --> 0:17:36.600
<v Speaker 2>be done by AI. So again it's all mentioned rather

0:17:36.680 --> 0:17:38.920
<v Speaker 2>than augmentation, rather than replacement.

0:17:39.640 --> 0:17:43.200
<v Speaker 4>So can you give us a specific example a company

0:17:43.400 --> 0:17:45.360
<v Speaker 4>or something that's in our lives And I'm just trying

0:17:45.400 --> 0:17:47.280
<v Speaker 4>to figure out whether it's going to the doctor, whether

0:17:47.359 --> 0:17:51.480
<v Speaker 4>it's a company. I don't know. Give us something specific

0:17:51.640 --> 0:17:53.560
<v Speaker 4>of how it might change. It's got about unfortunately a

0:17:53.560 --> 0:17:55.800
<v Speaker 4>minute left, but I'd love to kind of drill down

0:17:55.800 --> 0:17:57.440
<v Speaker 4>there and understand a little bit more.

0:17:58.000 --> 0:18:01.159
<v Speaker 2>Sure and listen this example that you ask me, Carol

0:18:01.160 --> 0:18:04.640
<v Speaker 2>about the call centers, right, all of that automated. Let's

0:18:04.680 --> 0:18:07.240
<v Speaker 2>let's take this example from the time that the customer

0:18:07.280 --> 0:18:09.639
<v Speaker 2>first reaches out to the time that a customer service

0:18:09.680 --> 0:18:14.360
<v Speaker 2>representative opens up a case and addresses actually the issue.

0:18:14.520 --> 0:18:17.960
<v Speaker 2>AI can do this work so much faster from finding

0:18:18.000 --> 0:18:22.840
<v Speaker 2>similar cases and actually offering these solutions. Moreover, the solution

0:18:22.920 --> 0:18:26.679
<v Speaker 2>is going to be customized considering all the previous history

0:18:26.680 --> 0:18:30.440
<v Speaker 2>of relationships with you as a client, you as an individual,

0:18:30.720 --> 0:18:35.040
<v Speaker 2>so actually again making this conversation much more intelligent than

0:18:35.160 --> 0:18:37.480
<v Speaker 2>it used to be in the past.

0:18:37.640 --> 0:18:40.399
<v Speaker 4>So is it going to be an automated conversation or

0:18:40.400 --> 0:18:43.720
<v Speaker 4>you're saying that information will be at the fingertips of

0:18:43.800 --> 0:18:47.120
<v Speaker 4>a human who can look at it and through generative

0:18:47.119 --> 0:18:49.960
<v Speaker 4>AI will come to some smart conclusion based on all

0:18:50.000 --> 0:18:53.080
<v Speaker 4>the conversations we've had. So it's much more productive for

0:18:53.160 --> 0:18:54.600
<v Speaker 4>the user. And again just twenty five.

0:18:54.480 --> 0:18:58.320
<v Speaker 2>Seconds, right, it can be either way, So it depends

0:18:58.400 --> 0:19:00.680
<v Speaker 2>on your preference. If you want, like you want to

0:19:00.720 --> 0:19:03.560
<v Speaker 2>be engaged into the conversation, it will do exactly as

0:19:03.560 --> 0:19:06.040
<v Speaker 2>you described. If you want to do it all automated,

0:19:06.160 --> 0:19:09.080
<v Speaker 2>it can't be done still all automated. And this is

0:19:09.119 --> 0:19:11.480
<v Speaker 2>again the beauty of AI that you have the choice

0:19:11.800 --> 0:19:12.560
<v Speaker 2>which way to go.

0:19:12.920 --> 0:19:14.560
<v Speaker 4>All right, We got to leave it there, Hey, Catherine,

0:19:14.640 --> 0:19:16.560
<v Speaker 4>fun to check in with you again and catch up.

0:19:17.119 --> 0:19:20.080
<v Speaker 4>Catherine Costa Riva. She is, of course the CEO and

0:19:20.160 --> 0:19:23.600
<v Speaker 4>founder of Creatio, joining us there from Boston. Would you

0:19:23.720 --> 0:19:27.240
<v Speaker 4>rather talk with some an automated, smart, automated or human human?

0:19:27.960 --> 0:19:29.480
<v Speaker 2>Still? What about you?

0:19:31.920 --> 0:19:34.520
<v Speaker 4>Depends mostly human?

0:19:35.040 --> 0:19:38.399
<v Speaker 3>Yeah, yeah, I got to explain myself, especially those.

0:19:38.320 --> 0:19:39.959
<v Speaker 4>Like some things should go back and back and you've

0:19:40.000 --> 0:19:42.040
<v Speaker 4>got to start again, and you're like, if there's something

0:19:42.080 --> 0:19:44.680
<v Speaker 4>that that history could be right there? All right, folks,

0:19:44.680 --> 0:19:46.680
<v Speaker 4>more to come right here on Bloomberg Business Rate. This

0:19:46.840 --> 0:19:47.400
<v Speaker 4>is Bloomberg