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Is AI About To Shrink Corporate Workforces? | Fast Five Shorts · Omni Talk Retail

• 0:00
  Block,
• 0:00
  the
• 0:00
  fintech
• 0:01
  and
• 0:01
  payments
• 0:01
  company
• 0:02
  behind
• 0:02
  Square
• 0:02
  and
• 0:03
  Cash
• 0:03
  App,
• 0:04
  announced
• 0:04
  it
• 0:04
  is
• 0:04
  cutting
• 0:05
  nearly
• 0:05
  4,000
• 0:06
  jobs,
• 0:06
  roughly
• 0:07
  40%
• 0:07
  of
• 0:07
  its
• 0:08
  workforce,
• 0:08
  and
• 0:08
  replacing
• 0:09
  that
• 0:09
  capacity
• 0:09
  with
• 0:10
  artificial
• 0:10
  intelligence.
• 0:11
  According
• 0:12
  to
• 0:12
  Payments
• 0:12
  Dive
• 0:13
  CEO
• 0:13
  Jack
• 0:13
  Dorsey
• 0:14
  wrote
• 0:14
  to
• 0:14
  shareholders
• 0:15
  that
• 0:15
  Block's
• 0:15
  headcount
• 0:15
  will
• 0:16
  drop
• 0:16
  from
• 0:16
  10,000
• 0:17
  employees
• 0:17
  to
• 0:17
  just
• 0:17
  over
• 0:18
  6,000,
• 0:19
  attributing
• 0:20
  the
• 0:20
  move
• 0:20
  directly
• 0:20
  to
• 0:21
  AI
• 0:21
  capabilities,
• 0:22
  not
• 0:22
  financial
• 0:22
  distress.
• 0:23
  Dorsey
• 0:24
  wrote
• 0:24
  that
• 0:24
  intelligence
• 0:25
  tools
• 0:25
  have
• 0:25
  fundamentally
• 0:25
  changed
• 0:26
  what
• 0:26
  it
• 0:26
  means
• 0:26
  to
• 0:26
  build
• 0:27
  and
• 0:27
  run
• 0:27
  a
• 0:27
  company
• 0:27
  and
• 0:28
  that
• 0:28
  a
• 0:28
  significantly
• 0:29
  smaller
• 0:29
  team
• 0:29
  using
• 0:30
  those
• 0:30
  tools
• 0:31
  can
• 0:31
  do
• 0:31
  more
• 0:31
  and
• 0:31
  do
• 0:32
  it
• 0:32
  better.
• 0:32
  He
• 0:33
  predicted
• 0:33
  that
• 0:33
  within
• 0:33
  the
• 0:34
  next
• 0:34
  year
• 0:34
  the
• 0:34
  majority
• 0:34
  of
• 0:35
  companies
• 0:35
  will
• 0:35
  reach
• 0:35
  the
• 0:36
  same
• 0:36
  conclusion
• 0:36
  and
• 0:37
  make
• 0:37
  similar
• 0:37
  structural
• 0:38
  changes.
• 0:39
  Also
• 0:39
  important
• 0:39
  to
• 0:40
  note
• 0:40
  is
• 0:40
  that
• 0:40
  this
• 0:40
  move
• 0:41
  comes
• 0:41
  at
• 0:41
  a
• 0:41
  time
• 0:41
  when
• 0:42
  Block
• 0:42
  is
• 0:42
  doing
• 0:42
  well.
• 0:43
  Q4
• 0:44
  gross
• 0:44
  profit
• 0:44
  rose
• 0:45
  24%
• 0:46
  year
• 0:46
  over
• 0:47
  year
• 0:47
  to
• 0:47
  $2.87
• 0:48
  billion,
• 0:49
  fueled
• 0:49
  by
• 0:49
  cash
• 0:50
  out
• 0:50
  performance
• 0:50
  and
• 0:51
  the
• 0:51
  company
• 0:51
  increased
• 0:52
  its
• 0:52
  revenue
• 0:52
  and
• 0:52
  profit
• 0:53
  guidance
• 0:53
  for
• 0:53
  the
• 0:53
  year.
• 0:54
  Cassie
• 0:55
  Dorsey
• 0:55
  says
• 0:55
  most
• 0:56
  companies
• 0:56
  are
• 0:56
  quite
• 0:57
  quote,
• 0:57
  late
• 0:58
  to
• 0:58
  this
• 0:58
  AI
• 0:58
  workforce
• 0:59
  transition.
• 1:00
  Is
• 1:00
  he
• 1:00
  right?
• 1:01
  And
• 1:01
  what
• 1:01
  does
• 1:01
  a
• 1:01
  move
• 1:02
  like
• 1:02
  this
• 1:02
  mean
• 1:02
  for
• 1:02
  retailers
• 1:03
  and
• 1:03
  the
• 1:03
  broader
• 1:04
  industry?
• 1:04
  I
• 1:05
  think
• 1:05
  we
• 1:05
  can
• 1:05
  probably
• 1:06
  all
• 1:06
  agree
• 1:06
  that
• 1:07
  Jack
• 1:07
  Dorsey
• 1:07
  likes
• 1:08
  to
• 1:08
  be
• 1:08
  a
• 1:08
  bit
• 1:08
  provocative.
• 1:09
  So
• 1:09
  by
• 1:09
  him
• 1:10
  saying
• 1:10
  that
• 1:10
  they're
• 1:11
  late
• 1:11
  also
• 1:12
  like
• 1:12
  I
• 1:12
  don't
• 1:12
  think
• 1:12
  he's
• 1:13
  wrong,
• 1:13
  but
• 1:13
  what
• 1:14
  is
• 1:14
  he
• 1:14
  saying
• 1:14
  late
• 1:14
  to?
• 1:15
  What
• 1:15
  is
• 1:15
  this
• 1:15
  to
• 1:15
  displacing
• 1:16
  and
• 1:16
  reducing
• 1:16
  their
• 1:17
  headcount,
• 1:17
  that
• 1:17
  he
• 1:17
  thinks
• 1:18
  they've
• 1:18
  been
• 1:18
  too
• 1:18
  high
• 1:18
  for
• 1:18
  a
• 1:18
  while?
• 1:19
  Is
• 1:19
  it
• 1:19
  actually
• 1:19
  at
• 1:19
  deploying
• 1:20
  the
• 1:20
  AI?
• 1:21
  I
• 1:21
  don't
• 1:21
  think
• 1:21
  he's
• 1:21
  wrong,
• 1:21
  but
• 1:22
  maybe
• 1:22
  just
• 1:22
  overstating
• 1:23
  a
• 1:23
  bit,
• 1:24
  a
• 1:24
  little
• 1:24
  bit
• 1:25
  of
• 1:25
  extremes
• 1:25
  there.
• 1:26
  So
• 1:26
  I
• 1:26
  think
• 1:27
  yes,
• 1:27
  from
• 1:28
  like
• 1:28
  a
• 1:28
  fintech
• 1:29
  tech
• 1:29
  perspective,
• 1:30
  they
• 1:30
  maybe
• 1:31
  might
• 1:31
  be
• 1:31
  at
• 1:31
  the
• 1:31
  point
• 1:31
  where
• 1:31
  they
• 1:32
  are
• 1:32
  ready
• 1:32
  to
• 1:32
  make
• 1:32
  these
• 1:33
  structural
• 1:33
  moves
• 1:33
  and
• 1:33
  really
• 1:34
  think
• 1:34
  about
• 1:34
  how
• 1:35
  they're
• 1:35
  structuring
• 1:35
  their
• 1:35
  workforce.
• 1:37
  They're
• 1:37
  going
• 1:37
  to
• 1:38
  be
• 1:38
  able
• 1:38
  to
• 1:38
  have
• 1:38
  those
• 1:38
  internal
• 1:39
  capabilities
• 1:39
  a
• 1:39
  lot
• 1:39
  more
• 1:40
  and
• 1:40
  you
• 1:40
  know,
• 1:40
  benefiting
• 1:40
  from
• 1:41
  that.
• 1:41
  So
• 1:41
  the
• 1:41
  math
• 1:42
  works
• 1:42
  a
• 1:42
  little
• 1:42
  bit
• 1:42
  better
• 1:42
  for
• 1:43
  them.
• 1:44
  For
• 1:44
  retailers,
• 1:45
  I'm
• 1:45
  not
• 1:45
  sure
• 1:45
  that
• 1:46
  they're
• 1:46
  quite
• 1:46
  there
• 1:46
  yet.
• 1:47
  It's
• 1:47
  a
• 1:47
  little
• 1:47
  bit
• 1:47
  more
• 1:47
  nuanced.
• 1:49
  A
• 1:49
  lot
• 1:49
  of
• 1:49
  retailers
• 1:49
  are
• 1:50
  more
• 1:50
  still
• 1:50
  in
• 1:50
  the
• 1:50
  pilot
• 1:51
  phase
• 1:51
  of
• 1:51
  actually
• 1:51
  incorporating
• 1:52
  AI
• 1:53
  and
• 1:53
  so
• 1:54
  I
• 1:54
  don't
• 1:54
  think
• 1:54
  that
• 1:54
  this
• 1:54
  is
• 1:55
  an
• 1:55
  overarching
• 1:55
  everyone
• 1:56
  is
• 1:56
  behind.
• 1:56
  I
• 1:56
  think
• 1:56
  it's
• 1:57
  very
• 1:57
  specific.
• 1:57
  Companies
• 1:59
  maybe
• 1:59
  are
• 2:00
  going
• 2:00
  to
• 2:00
  be
• 2:00
  able
• 2:00
  to
• 2:00
  make
• 2:01
  a
• 2:01
  similar
• 2:01
  move.
• 2:02
  So
• 2:02
  I
• 2:02
  think
• 2:02
  from
• 2:02
  a
• 2:02
  retail
• 2:03
  perspective
• 2:03
  there's
• 2:04
  always
• 2:04
  going
• 2:05
  to
• 2:05
  be
• 2:05
  a
• 2:05
  significant
• 2:06
  physical
• 2:07
  human
• 2:07
  need
• 2:08
  and
• 2:08
  touch
• 2:08
  points
• 2:08
  that
• 2:09
  I
• 2:09
  will
• 2:09
  never
• 2:09
  be
• 2:10
  able
• 2:10
  to
• 2:10
  displace.
• 2:10
  I
• 2:11
  think
• 2:11
  there
• 2:11
  are
• 2:11
  a
• 2:11
  lot
• 2:11
  of
• 2:11
  opportunities
• 2:12
  too
• 2:12
  for
• 2:13
  AI
• 2:13
  to
• 2:15
  impact,
• 2:15
  you
• 2:15
  know,
• 2:15
  how
• 2:16
  we
• 2:16
  think
• 2:16
  about
• 2:16
  things.
• 2:17
  So
• 2:17
  you
• 2:17
  know,
• 2:17
  you're
• 2:17
  always
• 2:18
  going
• 2:18
  to
• 2:18
  have
• 2:18
  the
• 2:18
  in
• 2:18
  store
• 2:19
  interactions,
• 2:19
  you're
• 2:20
  always
• 2:20
  going
• 2:20
  to
• 2:20
  need
• 2:21
  that
• 2:21
  creative
• 2:21
  mindset.
• 2:22
  There's
• 2:22
  a
• 2:22
  lot
• 2:22
  of
• 2:23
  things
• 2:23
  that
• 2:23
  we're
• 2:23
  not
• 2:23
  going
• 2:23
  to
• 2:23
  be
• 2:23
  able
• 2:24
  to
• 2:24
  change
• 2:24
  that
• 2:24
  are
• 2:24
  going
• 2:25
  to
• 2:25
  be
• 2:25
  deeply
• 2:26
  human.
• 2:26
  But
• 2:26
  I
• 2:26
  think
• 2:27
  there
• 2:27
  is
• 2:27
  a
• 2:27
  huge
• 2:27
  opportunity.
• 2:29
  Just
• 2:29
  time
• 2:29
  will
• 2:30
  tell
• 2:30
  how
• 2:30
  much
• 2:30
  this
• 2:31
  will
• 2:31
  actually
• 2:31
  impact.
• 2:31
  So
• 2:32
  when
• 2:32
  you're
• 2:32
  thinking
• 2:33
  about
• 2:33
  where
• 2:34
  are
• 2:34
  we
• 2:34
  still,
• 2:34
  you
• 2:35
  know,
• 2:35
  making
• 2:36
  decisions
• 2:36
  based
• 2:36
  on
• 2:37
  human
• 2:37
  intuition
• 2:37
  rather
• 2:38
  than
• 2:38
  data
• 2:38
  truly
• 2:39
  informing
• 2:39
  them?
• 2:40
  So
• 2:40
  something
• 2:40
  like
• 2:41
  how
• 2:41
  much
• 2:41
  for
• 2:41
  demand
• 2:42
  forecasting,
• 2:42
  pricing
• 2:43
  and
• 2:43
  promo
• 2:43
  personalization,
• 2:44
  There's
• 2:45
  a
• 2:45
  lot
• 2:45
  of
• 2:45
  aspects
• 2:45
  that
• 2:46
  I
• 2:46
  think
• 2:46
  retailers
• 2:47
  are
• 2:47
  still
• 2:48
  very
• 2:48
  immature
• 2:49
  with
• 2:49
  actually
• 2:49
  incorporating
• 2:50
  AI.
• 2:50
  And
• 2:51
  so
• 2:51
  give
• 2:51
  us
• 2:51
  a
• 2:52
  few
• 2:52
  years,
• 2:52
  we'll
• 2:53
  see
• 2:53
  what
• 2:53
  that
• 2:53
  happens
• 2:54
  and
• 2:54
  maybe
• 2:54
  there
• 2:54
  will
• 2:54
  be
• 2:55
  difference.
• 2:55
  But
• 2:55
  I
• 2:56
  think
• 2:56
  the
• 2:56
  real
• 2:57
  winners
• 2:57
  here
• 2:58
  will
• 2:58
  not
• 2:58
  be
• 2:58
  people
• 2:58
  who
• 2:58
  are
• 2:59
  just
• 3:00
  making
• 3:00
  headcount
• 3:01
  changes
• 3:01
  of
• 3:01
  being
• 3:02
  able
• 3:02
  to
• 3:02
  make
• 3:02
  their
• 3:02
  workforce
• 3:03
  more
• 3:03
  productive
• 3:04
  through
• 3:04
  using
• 3:05
  AI.
• 3:05
  And
• 3:05
  so
• 3:05
  you're
• 3:06
  using
• 3:06
  the
• 3:06
  same
• 3:06
  people
• 3:07
  to
• 3:07
  do
• 3:07
  higher
• 3:07
  value
• 3:08
  work
• 3:09
  at
• 3:09
  a
• 3:09
  larger
• 3:10
  scale.
• 3:10
  And
• 3:10
  so
• 3:11
  I
• 3:11
  think,
• 3:11
  you
• 3:12
  know,
• 3:12
  Jack
• 3:12
  Dorsey
• 3:13
  wants
• 3:13
  to
• 3:13
  be
• 3:13
  provocative.
• 3:13
  He
• 3:14
  wants
• 3:14
  to
• 3:14
  be
• 3:14
  able
• 3:14
  to
• 3:14
  say
• 3:15
  we're
• 3:15
  reducing
• 3:16
  40%
• 3:17
  or
• 3:18
  that's
• 3:19
  going
• 3:19
  to
• 3:19
  make
• 3:19
  a
• 3:19
  lot
• 3:19
  of
• 3:19
  people's
• 3:20
  ears
• 3:20
  perk
• 3:20
  up.
• 3:20
  Right.
• 3:20
  Like
• 3:21
  that
• 3:21
  is
• 3:21
  huge
• 3:21
  right
• 3:22
  now
• 3:22
  in
• 3:23
  a
• 3:23
  lot
• 3:23
  of
• 3:23
  industries
• 3:23
  that
• 3:24
  are,
• 3:24
  you
• 3:24
  know,
• 3:24
  very
• 3:24
  thin
• 3:25
  margins.
• 3:25
  So
• 3:26
  that
• 3:26
  might
• 3:26
  seem
• 3:26
  attractive,
• 3:27
  but
• 3:27
  I
• 3:27
  think
• 3:27
  there's
• 3:28
  still
• 3:28
  a
• 3:28
  lot,
• 3:29
  we're
• 3:29
  still
• 3:29
  very
• 3:29
  far
• 3:30
  out
• 3:30
  from
• 3:30
  a
• 3:30
  retailer
• 3:31
  perspective
• 3:31
  of
• 3:31
  when
• 3:31
  we
• 3:31
  can
• 3:32
  even
• 3:32
  be
• 3:32
  comfortable
• 3:33
  with
• 3:33
  saying
• 3:33
  that
• 3:34
  we're
• 3:34
  going
• 3:34
  to
• 3:34
  be,
• 3:34
  you
• 3:34
  know,
• 3:35
  replacing
• 3:35
  a
• 3:35
  lot
• 3:35
  of
• 3:35
  functions
• 3:36
  with
• 3:36
  AI.
• 3:38
  Got
• 3:38
  it.
• 3:38
  Okay,
• 3:38
  so
• 3:38
  let
• 3:39
  me,
• 3:39
  so
• 3:39
  let
• 3:39
  me
• 3:39
  press
• 3:39
  you
• 3:39
  a
• 3:39
  little
• 3:40
  bit
• 3:40
  on
• 3:40
  this.
• 3:40
  So
• 3:40
  then,
• 3:40
  so
• 3:41
  because
• 3:41
  you
• 3:42
  know,
• 3:42
  you
• 3:42
  said
• 3:42
  at
• 3:42
  the
• 3:42
  outset,
• 3:42
  you
• 3:42
  know,
• 3:43
  transformation
• 3:43
  is
• 3:43
  kind
• 3:43
  of
• 3:43
  your
• 3:43
  specialty.
• 3:44
  So
• 3:44
  are
• 3:44
  you
• 3:45
  seeing
• 3:45
  in
• 3:46
  the
• 3:46
  boardroom
• 3:46
  discussions
• 3:47
  that
• 3:47
  you're
• 3:47
  having
• 3:47
  with
• 3:47
  retailers,
• 3:48
  are
• 3:48
  you
• 3:48
  seeing
• 3:48
  retailers
• 3:49
  put
• 3:50
  in
• 3:50
  plans
• 3:51
  place
• 3:51
  that
• 3:51
  are
• 3:51
  this
• 3:52
  drastic
• 3:53
  in
• 3:53
  terms
• 3:53
  of
• 3:53
  like
• 3:54
  a
• 3:54
  two
• 3:54
  or
• 3:54
  three
• 3:54
  year
• 3:55
  out
• 3:55
  horizon
• 3:55
  in
• 3:56
  terms
• 3:56
  of
• 3:57
  workforce
• 3:57
  planning
• 3:58
  and
• 3:58
  organizational
• 3:59
  optimization?
• 3:59
  Are
• 4:00
  you
• 4:00
  seeing
• 4:00
  that
• 4:00
  at
• 4:01
  all
• 4:01
  at
• 4:01
  this
• 4:01
  point?
• 4:03
  I
• 4:03
  think
• 4:03
  we're
• 4:03
  still
• 4:04
  a
• 4:04
  few
• 4:04
  years
• 4:04
  out
• 4:05
  from
• 4:05
  this
• 4:05
  at
• 4:05
  this
• 4:05
  point.
• 4:05
  I
• 4:05
  mean
• 4:06
  it's
• 4:06
  always
• 4:06
  being
• 4:07
  discussed,
• 4:07
  it's
• 4:08
  always
• 4:08
  a
• 4:08
  question.
• 4:09
  But
• 4:09
  the
• 4:09
  ways
• 4:10
  of
• 4:10
  working
• 4:10
  right
• 4:10
  now
• 4:11
  at
• 4:11
  most
• 4:12
  companies
• 4:12
  are
• 4:12
  truly
• 4:13
  not
• 4:14
  involving
• 4:14
  enough
• 4:15
  of
• 4:15
  this
• 4:16
  higher
• 4:16
  capability
• 4:17
  AI
• 4:18
  that's
• 4:18
  going
• 4:18
  to
• 4:18
  make
• 4:19
  this
• 4:19
  type
• 4:19
  of
• 4:19
  impact.
• 4:20
  I
• 4:20
  think
• 4:20
  those
• 4:21
  are
• 4:21
  ultimate
• 4:21
  goals
• 4:22
  and
• 4:22
  that
• 4:22
  they
• 4:22
  can
• 4:23
  actually
• 4:23
  be
• 4:23
  able
• 4:23
  to
• 4:24
  have
• 4:25
  their
• 4:25
  people
• 4:26
  do
• 4:26
  better
• 4:26
  work
• 4:27
  in
• 4:27
  more
• 4:27
  efficient
• 4:27
  manner.
• 4:28
  But
• 4:28
  it's
• 4:29
  not
• 4:29
  necessarily,
• 4:30
  I
• 4:30
  think
• 4:30
  from
• 4:30
  the
• 4:30
  same
• 4:30
  angle
• 4:31
  that
• 4:31
  Dorsey
• 4:32
  was
• 4:32
  going
• 4:32
  at
• 4:32
  it
• 4:32
  from.
• 4:33
  Right,
• 4:33
  right,
• 4:33
  yeah,
• 4:34
  because
• 4:35
  I
• 4:35
  think
• 4:35
  your
• 4:35
  point's
• 4:35
  right.
• 4:36
  Too,
• 4:36
  it
• 4:36
  makes
• 4:37
  a
• 4:37
  lot
• 4:37
  of
• 4:37
  sense
• 4:37
  where
• 4:37
  you
• 4:37
  said
• 4:37
  a
• 4:38
  retail
• 4:38
  operation
• 4:38
  is
• 4:39
  much
• 4:39
  more
• 4:40
  diverse
• 4:41
  in
• 4:41
  terms
• 4:41
  of
• 4:42
  how
• 4:42
  it
• 4:42
  works
• 4:42
  day
• 4:43
  to
• 4:43
  day
• 4:43
  as
• 4:44
  well.
• 4:44
  So
• 4:44
  Joanna,
• 4:45
  to
• 4:45
  that
• 4:45
  point,
• 4:45
  I
• 4:45
  mean,
• 4:46
  being
• 4:46
  the
• 4:46
  end
• 4:46
  to
• 4:46
  end
• 4:46
  operator,
• 4:48
  what
• 4:48
  do
• 4:48
  you
• 4:48
  take
• 4:48
  from
• 4:48
  this
• 4:48
  announcement?
• 4:49
  And
• 4:49
  my
• 4:49
  question
• 4:49
  too
• 4:50
  is
• 4:50
  for
• 4:51
  the
• 4:51
  retailers
• 4:51
  observing
• 4:52
  it,
• 4:53
  is
• 4:53
  there
• 4:54
  more
• 4:54
  risk
• 4:54
  in
• 4:55
  thinking
• 4:56
  he's
• 4:56
  being
• 4:56
  too
• 4:57
  drastic
• 4:57
  or
• 4:58
  less
• 4:58
  risk,
• 4:59
  you
• 4:59
  know,
• 4:59
  or,
• 5:00
  or,
• 5:00
  or,
• 5:01
  or
• 5:01
  less
• 5:01
  risk
• 5:02
  by
• 5:02
  just
• 5:02
  sloughing
• 5:02
  it
• 5:02
  off
• 5:03
  and
• 5:03
  saying,
• 5:03
  yeah,
• 5:03
  now
• 5:03
  he's
• 5:03
  just
• 5:04
  being
• 5:04
  provocative.
• 5:04
  Like,
• 5:05
  how
• 5:05
  do
• 5:05
  you
• 5:05
  think
• 5:05
  about
• 5:05
  that?
• 5:06
  Yeah,
• 5:06
  it's
• 5:07
  a,
• 5:07
  it's
• 5:07
  a
• 5:07
  great
• 5:07
  question,
• 5:08
  Chris.
• 5:08
  And
• 5:08
  I
• 5:08
  think
• 5:08
  that
• 5:08
  this
• 5:09
  is
• 5:09
  what
• 5:09
  a
• 5:09
  lot
• 5:09
  of
• 5:09
  retailers
• 5:10
  are
• 5:10
  talking
• 5:11
  about.
• 5:11
  Whether
• 5:11
  they're
• 5:12
  talking
• 5:12
  about
• 5:12
  it
• 5:12
  in
• 5:12
  the,
• 5:13
  in
• 5:13
  the
• 5:13
  boardroom
• 5:13
  or
• 5:13
  not,
• 5:14
  they
• 5:14
  are
• 5:14
  wrestling
• 5:14
  with
• 5:15
  it
• 5:16
  at
• 5:16
  all,
• 5:16
  at
• 5:17
  all
• 5:17
  levels.
• 5:17
  I
• 5:18
  think
• 5:18
  that,
• 5:18
  you
• 5:18
  know,
• 5:19
  starting
• 5:19
  from
• 5:20
  the
• 5:20
  announcement
• 5:21
  itself,
• 5:21
  I
• 5:21
  think
• 5:21
  that
• 5:22
  this
• 5:22
  example
• 5:23
  from
• 5:23
  digitally
• 5:24
  native
• 5:25
  companies
• 5:25
  that
• 5:25
  are
• 5:25
  owned
• 5:26
  by
• 5:26
  block
• 5:26
  like
• 5:27
  that
• 5:27
  is
• 5:28
  instructive
• 5:29
  on
• 5:29
  the
• 5:30
  impact
• 5:30
  that
• 5:30
  AI
• 5:31
  is
• 5:32
  and
• 5:32
  can
• 5:33
  have
• 5:33
  on
• 5:33
  a
• 5:34
  workforce
• 5:34
  going
• 5:35
  forward.
• 5:36
  Much
• 5:36
  to
• 5:36
  Cassie's
• 5:37
  point,
• 5:37
  I
• 5:38
  would
• 5:38
  expect
• 5:38
  that
• 5:38
  the
• 5:39
  change
• 5:39
  in
• 5:39
  more
• 5:40
  physical
• 5:41
  goods
• 5:41
  companies
• 5:42
  to
• 5:43
  be
• 5:43
  a
• 5:43
  bit
• 5:43
  slower
• 5:44
  and
• 5:44
  more
• 5:44
  measured,
• 5:46
  partially
• 5:46
  because
• 5:46
  of
• 5:47
  the
• 5:47
  nuances
• 5:47
  that,
• 5:48
  that
• 5:48
  Cassie
• 5:48
  brought
• 5:49
  up.
• 5:49
  But
• 5:49
  the
• 5:49
  impact
• 5:50
  will
• 5:50
  still
• 5:51
  start
• 5:51
  to
• 5:51
  be
• 5:51
  felt
• 5:52
  in
• 5:52
  areas
• 5:53
  in
• 5:54
  organizations
• 5:54
  and
• 5:55
  roles
• 5:55
  that
• 5:55
  have
• 5:56
  more
• 5:56
  analysis
• 5:58
  behind
• 5:58
  them
• 5:59
  as
• 5:59
  well
• 6:00
  as
• 6:00
  more
• 6:00
  sort
• 6:00
  of
• 6:01
  cognitive
• 6:01
  engagement
• 6:02
  like
• 6:02
  a
• 6:02
  customer
• 6:03
  service
• 6:03
  or
• 6:03
  a
• 6:03
  call
• 6:04
  center
• 6:04
  where
• 6:04
  they're
• 6:05
  handling
• 6:05
  multi
• 6:06
  step
• 6:06
  problem
• 6:07
  solving,
• 6:08
  where
• 6:08
  some
• 6:08
  of
• 6:08
  those
• 6:09
  steps
• 6:09
  can
• 6:09
  be
• 6:10
  triaged
• 6:11
  by
• 6:11
  AI
• 6:12
  as
• 6:12
  a
• 6:13
  starting
• 6:13
  point
• 6:13
  and
• 6:13
  then
• 6:14
  escalated
• 6:15
  for
• 6:16
  overly
• 6:17
  complex
• 6:17
  issues.
• 6:17
  And
• 6:18
  so
• 6:18
  I
• 6:18
  do
• 6:18
  think
• 6:18
  that
• 6:19
  that
• 6:19
  will
• 6:20
  then
• 6:20
  increase
• 6:20
  human
• 6:21
  productivity,
• 6:22
  ultimately
• 6:24
  result
• 6:25
  in
• 6:25
  the
• 6:25
  need
• 6:26
  for
• 6:26
  a
• 6:26
  smaller
• 6:27
  human
• 6:27
  workforce
• 6:28
  in
• 6:28
  some
• 6:28
  of
• 6:28
  those,
• 6:29
  some
• 6:29
  of
• 6:29
  those
• 6:30
  functions.
• 6:30
  The
• 6:31
  way
• 6:31
  I
• 6:31
  think
• 6:31
  about
• 6:31
  it,
• 6:31
  my
• 6:32
  advice
• 6:32
  would
• 6:32
  be
• 6:32
  very
• 6:33
  similar
• 6:33
  to
• 6:33
  what
• 6:33
  Matt
• 6:34
  Schumer
• 6:34
  put
• 6:34
  out
• 6:35
  at
• 6:35
  the
• 6:35
  beginning
• 6:35
  of
• 6:35
  February.
• 6:36
  He
• 6:37
  had
• 6:37
  a
• 6:37
  great
• 6:37
  article
• 6:37
  called
• 6:38
  Something
• 6:38
  Big
• 6:38
  is
• 6:39
  Happening
• 6:39
  where
• 6:39
  he
• 6:39
  talks
• 6:40
  all,
• 6:40
  you
• 6:40
  know,
• 6:41
  all
• 6:41
  about
• 6:41
  this.
• 6:41
  And
• 6:42
  I
• 6:42
  think
• 6:42
  that
• 6:42
  the
• 6:43
  idea
• 6:43
  that
• 6:43
  enterprises
• 6:44
  need
• 6:45
  to
• 6:45
  let
• 6:45
  or,
• 6:46
  or
• 6:47
  rather
• 6:47
  encourage
• 6:49
  employees
• 6:49
  to
• 6:49
  really
• 6:50
  incorporate
• 6:50
  AI
• 6:51
  into
• 6:51
  their
• 6:52
  work
• 6:52
  where
• 6:52
  they
• 6:53
  can
• 6:54
  and
• 6:54
  inviting
• 6:55
  that
• 6:55
  in,
• 6:55
  you
• 6:55
  know,
• 6:55
  the,
• 6:56
  the
• 6:56
  philosophy
• 6:56
  of
• 6:57
  sort
• 6:57
  of
• 6:57
  letting
• 6:57
  a
• 6:57
  thousand
• 6:58
  flowers
• 6:58
  bloom,
• 6:59
  you
• 6:59
  know,
• 6:59
  within
• 6:59
  reason
• 7:00
  is,
• 7:01
  is
• 7:01
  something
• 7:01
  that
• 7:02
  ought
• 7:02
  to
• 7:03
  be
• 7:03
  encouraged
• 7:03
  because
• 7:03
  there
• 7:04
  will
• 7:04
  be
• 7:04
  successes,
• 7:05
  there
• 7:05
  will
• 7:05
  be
• 7:05
  failures,
• 7:06
  it
• 7:06
  is
• 7:06
  an
• 7:07
  iterative
• 7:07
  process.
• 7:08
  But
• 7:08
  companies
• 7:09
  that
• 7:09
  try
• 7:09
  to
• 7:10
  control
• 7:10
  sort
• 7:11
  of
• 7:11
  the
• 7:11
  contagion
• 7:12
  of
• 7:13
  AI
• 7:14
  through,
• 7:14
  you
• 7:14
  know,
• 7:15
  a
• 7:15
  centralized
• 7:15
  IT
• 7:16
  tower
• 7:16
  or
• 7:16
  something
• 7:17
  like
• 7:17
  that
• 7:17
  is
• 7:17
  likely
• 7:18
  going
• 7:18
  to
• 7:18
  end
• 7:18
  up,
• 7:19
  they'll
• 7:19
  likely
• 7:19
  end
• 7:20
  a
• 7:20
  bit
• 7:20
  left
• 7:21
  behind.
• 7:22
  And
• 7:22
  even
• 7:22
  that
• 7:23
  approach
• 7:23
  has
• 7:24
  fed
• 7:24
  into
• 7:24
  what
• 7:24
  we've
• 7:25
  seen
• 7:26
  in
• 7:26
  some
• 7:26
  companies
• 7:27
  where
• 7:27
  they've
• 7:28
  had
• 7:29
  organizations
• 7:30
  with
• 7:30
  Kind
• 7:31
  of
• 7:31
  a
• 7:31
  subpar
• 7:32
  Microsoft
• 7:32
  copilot
• 7:33
  based
• 7:34
  experience
• 7:35
  that
• 7:35
  isn't
• 7:35
  really
• 7:36
  generating
• 7:37
  outcomes
• 7:37
  that
• 7:38
  are
• 7:39
  productive
• 7:39
  in
• 7:40
  nature.
• 7:40
  And
• 7:40
  so
• 7:40
  I
• 7:40
  think
• 7:40
  that's
• 7:41
  where
• 7:41
  kind
• 7:41
  of
• 7:41
  it's
• 7:42
  heading.
• 7:42
  But
• 7:43
  we
• 7:43
  are
• 7:44
  all
• 7:44
  using
• 7:45
  AI
• 7:45
  in
• 7:45
  some
• 7:45
  way
• 7:46
  in
• 7:46
  our
• 7:46
  personal
• 7:47
  lives.
• 7:47
  And
• 7:48
  so,
• 7:48
  you
• 7:49
  know,
• 7:49
  successful
• 7:49
  retailers
• 7:50
  kind
• 7:50
  of
• 7:50
  bringing
• 7:51
  and
• 7:51
  inviting
• 7:52
  ways
• 7:52
  to
• 7:52
  incorporate
• 7:53
  that
• 7:53
  into
• 7:55
  employees,
• 7:56
  that
• 7:56
  experimentation
• 7:57
  rather
• 7:58
  into
• 7:58
  employees
• 7:59
  work,
• 8:00
  not
• 8:00
  casually,
• 8:01
  but,
• 8:01
  you
• 8:02
  know,
• 8:02
  actual
• 8:03
  work
• 8:04
  are
• 8:04
  going
• 8:04
  to
• 8:05
  see
• 8:05
  some,
• 8:05
  some
• 8:05
  good
• 8:06
  strides.
• 8:06
  And
• 8:06
  I
• 8:06
  think
• 8:06
  the
• 8:07
  trajectory
• 8:07
  only
• 8:07
  goes
• 8:08
  one
• 8:08
  way
• 8:08
  on
• 8:08
  this,
• 8:08
  Chris.
• 8:09
  It
• 8:09
  really
• 8:09
  does.
• 8:09
  And
• 8:10
  so
• 8:10
  your
• 8:10
  ultimate
• 8:10
  question,
• 8:11
  I
• 8:11
  think
• 8:11
  was,
• 8:11
  is
• 8:12
  it
• 8:12
  a
• 8:12
  bigger
• 8:12
  risk
• 8:12
  to
• 8:13
  think
• 8:13
  he's
• 8:13
  being
• 8:13
  provocative
• 8:15
  or
• 8:16
  a
• 8:16
  bigger
• 8:17
  risk
• 8:17
  to,
• 8:18
  to
• 8:18
  say
• 8:19
  what
• 8:19
  was
• 8:20
  the
• 8:20
  alternative?
• 8:21
  Yeah,
• 8:21
  is
• 8:21
  it,
• 8:22
  is
• 8:22
  the
• 8:22
  risk,
• 8:23
  is
• 8:23
  there
• 8:23
  a
• 8:23
  bigger
• 8:23
  risk
• 8:23
  in
• 8:24
  thinking
• 8:24
  he's
• 8:24
  wrong
• 8:24
  or
• 8:24
  thinking
• 8:25
  he's
• 8:25
  right?
• 8:25
  You
• 8:26
  know,
• 8:26
  I
• 8:26
  think,
• 8:26
  oh,
• 8:27
  the
• 8:27
  bigger
• 8:27
  risk
• 8:27
  is
• 8:27
  thinking
• 8:28
  he's
• 8:28
  wrong.
• 8:29
  Yeah,
• 8:29
  I
• 8:29
  think
• 8:30
  the
• 8:30
  order
• 8:30
  of
• 8:31
  magnitude
• 8:31
  may
• 8:32
  not
• 8:32
  be
• 8:32
  there
• 8:32
  yet,
• 8:33
  but.
• 8:34
  But
• 8:34
  that's
• 8:34
  definitely
• 8:35
  the
• 8:35
  bigger
• 8:35
  risk.
• 8:36
  Yeah,
• 8:36
  I
• 8:37
  think,
• 8:37
  I
• 8:37
  think
• 8:37
  so
• 8:37
  too.
• 8:38
  And
• 8:38
  you
• 8:39
  know,
• 8:39
  the
• 8:40
  reason
• 8:40
  I
• 8:40
  say
• 8:40
  that
• 8:40
  too
• 8:40
  is
• 8:40
  like,
• 8:41
  I
• 8:41
  think
• 8:41
  you
• 8:41
  have
• 8:41
  to
• 8:41
  look
• 8:41
  at
• 8:41
  who's
• 8:42
  saying
• 8:42
  it
• 8:42
  too.
• 8:42
  I
• 8:42
  think,
• 8:43
  you
• 8:43
  know,
• 8:43
  Cassie
• 8:43
  brought
• 8:44
  this
• 8:44
  up.
• 8:44
  He's
• 8:44
  a
• 8:44
  very
• 8:44
  provocative
• 8:45
  guy,
• 8:45
  but
• 8:46
  at
• 8:46
  the
• 8:46
  same
• 8:46
  time
• 8:46
  he's
• 8:47
  kind
• 8:47
  of
• 8:47
  a
• 8:47
  savant
• 8:47
  in
• 8:48
  the
• 8:48
  industry.
• 8:48
  I
• 8:48
  mean
• 8:49
  the,
• 8:49
  the
• 8:49
  guys,
• 8:49
  the
• 8:50
  guy
• 8:50
  started
• 8:50
  two
• 8:51
  incredibly
• 8:52
  successful
• 8:52
  tech
• 8:53
  companies
• 8:53
  and
• 8:54
  he's
• 8:54
  also
• 8:54
  one
• 8:54
  of
• 8:54
  the
• 8:54
  most
• 8:55
  productive
• 8:55
  CEOs
• 8:56
  of
• 8:56
  recent
• 8:56
  memory
• 8:56
  too,
• 8:57
  because
• 8:57
  he
• 8:57
  was,
• 8:57
  he
• 8:57
  was
• 8:58
  at
• 8:58
  one
• 8:58
  point
• 8:58
  running
• 8:59
  both
• 8:59
  of
• 8:59
  them
• 8:59
  at
• 8:59
  the
• 8:59
  same
• 9:00
  time
• 9:00
  as
• 9:00
  CEO.
• 9:01
  So
• 9:01
  this
• 9:01
  guy
• 9:01
  understands
• 9:02
  productivity
• 9:03
  and
• 9:03
  how
• 9:03
  to,
• 9:04
  how
• 9:04
  to
• 9:04
  make
• 9:05
  more,
• 9:06
  do
• 9:06
  more
• 9:06
  with
• 9:06
  less,
• 9:07
  for
• 9:07
  lack
• 9:07
  of
• 9:07
  a
• 9:07
  better
• 9:08
  way
• 9:08
  to
• 9:08
  put
• 9:08
  it.
• 9:08
  So
• 9:09
  yeah,
• 9:10
  I
• 9:10
  mean,
• 9:10
  I,
• 9:10
  when
• 9:10
  I
• 9:11
  hear
• 9:11
  what
• 9:11
  you
• 9:11
  said,
• 9:11
  Joanna
• 9:12
  too,
• 9:12
  I
• 9:12
  think
• 9:13
  I
• 9:13
  had
• 9:13
  a
• 9:13
  big
• 9:13
  epiphany
• 9:14
  at
• 9:15
  Etail
• 9:16
  when
• 9:16
  I
• 9:16
  was
• 9:16
  out
• 9:16
  there
• 9:17
  last
• 9:17
  week.
• 9:17
  I
• 9:17
  was
• 9:17
  sitting
• 9:17
  there
• 9:18
  listening
• 9:18
  to
• 9:18
  a
• 9:18
  gentleman
• 9:19
  talk
• 9:19
  about
• 9:19
  how
• 9:19
  he's
• 9:20
  reorganized
• 9:20
  his
• 9:21
  marketing
• 9:22
  data
• 9:23
  infrastructure
• 9:23
  around
• 9:24
  AI.
• 9:25
  And
• 9:25
  the
• 9:25
  point
• 9:27
  that
• 9:27
  I
• 9:28
  was
• 9:28
  thinking
• 9:28
  about
• 9:28
  as
• 9:28
  he
• 9:28
  was
• 9:28
  talking
• 9:29
  was
• 9:30
  I
• 9:30
  think
• 9:30
  there's
• 9:30
  going
• 9:30
  to
• 9:30
  be
• 9:30
  two
• 9:31
  things
• 9:31
  that
• 9:31
  have
• 9:31
  come
• 9:31
  out
• 9:31
  of
• 9:31
  this
• 9:32
  and
• 9:32
  it's
• 9:32
  just
• 9:32
  a
• 9:32
  question
• 9:33
  now
• 9:33
  to
• 9:33
  Cassie's
• 9:33
  point
• 9:34
  about
• 9:34
  how
• 9:34
  fast
• 9:34
  this
• 9:35
  happens.
• 9:35
  There's
• 9:36
  going
• 9:36
  to
• 9:36
  be
• 9:36
  less
• 9:36
  jobs.
• 9:37
  Maybe
• 9:38
  retail
• 9:38
  doesn't
• 9:39
  get
• 9:39
  hit
• 9:39
  with
• 9:39
  the
• 9:39
  size
• 9:40
  of
• 9:40
  that
• 9:40
  impact
• 9:41
  as
• 9:41
  quickly,
• 9:42
  but
• 9:42
  over
• 9:42
  time
• 9:43
  it's
• 9:43
  going
• 9:43
  to.
• 9:44
  And
• 9:44
  then
• 9:44
  I
• 9:44
  think
• 9:44
  there's
• 9:44
  going
• 9:45
  to
• 9:45
  be
• 9:45
  different
• 9:45
  jobs,
• 9:45
  Joanna.
• 9:46
  And
• 9:46
  this
• 9:46
  is
• 9:46
  what
• 9:46
  you're
• 9:46
  saying
• 9:47
  with
• 9:47
  terms
• 9:47
  of
• 9:47
  like
• 9:47
  the
• 9:47
  roles,
• 9:48
  I
• 9:48
  think
• 9:48
  we're
• 9:49
  going
• 9:49
  to
• 9:49
  see
• 9:49
  less
• 9:49
  analyst
• 9:50
  roles,
• 9:50
  like
• 9:50
  data
• 9:51
  entry
• 9:51
  roles,
• 9:51
  and
• 9:52
  those
• 9:52
  jobs
• 9:52
  are
• 9:52
  going
• 9:52
  to
• 9:52
  switch
• 9:53
  into
• 9:53
  what
• 9:53
  I'm
• 9:53
  calling
• 9:54
  for
• 9:54
  lack
• 9:54
  of
• 9:54
  a
• 9:54
  better
• 9:54
  way,
• 9:54
  kind
• 9:55
  of
• 9:55
  the
• 9:55
  output
• 9:55
  approver
• 9:56
  role,
• 9:57
  where
• 9:57
  it's
• 9:57
  your
• 9:57
  job
• 9:57
  to
• 9:58
  monitor
• 9:58
  and
• 9:59
  manage
• 9:59
  the
• 9:59
  AI
• 10:00
  outputs.
• 10:01
  And
• 10:01
  I
• 10:01
  don't
• 10:02
  know
• 10:02
  if
• 10:02
  the
• 10:02
  skill
• 10:02
  sets
• 10:03
  for
• 10:03
  that
• 10:03
  are
• 10:03
  going
• 10:03
  to
• 10:03
  be
• 10:03
  the
• 10:04
  same.
• 10:04
  I
• 10:04
  don't
• 10:04
  know
• 10:04
  if
• 10:05
  they're
• 10:05
  going
• 10:05
  to
• 10:05
  be
• 10:05
  different,
• 10:05
  but
• 10:06
  I
• 10:06
  think
• 10:06
  that's
• 10:06
  how
• 10:07
  jobs
• 10:07
  are
• 10:07
  going
• 10:07
  to
• 10:07
  migrate
• 10:08
  over
• 10:08
  time.
• 10:09
  So,
• 10:10
  yeah.
• 10:11
  So
• 10:11
  with
• 10:11
  that
• 10:12
  said,
• 10:12
  I
• 10:12
  think
• 10:12
  there's
• 10:12
  just
• 10:13
  100%
• 10:13
  more
• 10:14
  risk
• 10:14
  in
• 10:14
  dismissing
• 10:15
  this
• 10:15
  announcement
• 10:16
  than
• 10:16
  there
• 10:16
  is
• 10:16
  in
• 10:16
  trying
• 10:17
  to
• 10:17
  say,
• 10:17
  okay,
• 10:17
  what
• 10:18
  can
• 10:18
  we
• 10:18
  learn
• 10:18
  from
• 10:18
  this
• 10:18
  as
• 10:19
  an
• 10:19
  organization?