Artificial Intelligence: The Power and the Perils

July 13, 2023
The AI genie isn’t going back in the bottle, so how do individuals, companies, and governments harness its power while mitigating inherent risks?

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After you listen

  • Check out Schwab's Insights & Education for the latest commentary from Schwab experts.
  • Follow Mike Townsend on Twitter—@MikeTownsendCS.
  • Check out Schwab's Insights & Education for the latest commentary from Schwab experts.
  • Follow Mike Townsend on Twitter—@MikeTownsendCS.

"Artificial Intelligence" is quite the buzzword these days. Practically overnight it seems to have grown from something with specific uses that is employed by big companies behind the scenes to a household term impacting everything from our entertainment to our politics. While hundreds of millions of users around the world are enjoying ChatGPT and similar chatbots, serious concerns are being raised about how it can be used to defraud us, take our jobs, or even end humanity. Bashar Abouseido, Schwab's chief information security officer, joins Mike Townsend to discuss what AI is, how it is currently being used, and the emerging real-world applications that will enhance productivity, customer service, and the quality of information. They also explore some of the concerns for misuse and abuse, the need for government regulations to put some guardrails around this emerging technology, and the importance of international cooperation.

Mike also discusses three big issues facing Congress right now: the government funding battle that could be on a path to a government shutdown this fall; the fight over environmental, social, and governance investing (ESG); and the impending confirmation of three nominees to the Federal Reserve Board of Governors.

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