Trump Addresses Iran Meeting, AI Worries at United Nations

24:44The U.S. has plenty of munitions, but they're not the ones that it needs and it would continue to use in the Iran war or in a potential future conflict. So it's running low of two really important types of missiles, air defense interceptors, which are used to keep U.S. forces, you know, bases, also allies and partners safe from attack. There's also long-range standoff missiles, so missiles that can go further distance that the U.S. uses in order to keep their forces safe. The U.S. is running out of those missiles, and they are the most important ones that would be used in any future conflict. It still has some other munitions that it can use, but they are not the ones that they want to use.

25:29And that creates some really, really interesting operational realities. Well, let's talk about realities. What does this mean for China, who's probably watching very closely? What does it mean for Ukraine, who's been relying on the U.S. in a big way? And take us anywhere else in the world, that what are the implications of this? So the implications for Ukraine are incredibly stark. There is no way that the United States is going to be able to provide additional air defense missiles to Ukraine that desperately needs it, as they are seeing thousands of Russian drones and missiles attacking them almost nightly, sometimes even more than that.

26:04And there it's just not enough missiles to go around to protect Ukraine. So Ukraine, unfortunately, is at the bottom of the pile when it comes to the U.S. focus on those on replenishing Patriot air defense interceptors, because the U.S. has to now replenish itself first and foremost. If you're China, I would be watching quite gleefully if I was in Beijing, because all of this says that the U.S. would be less able to bring to bear the potential military power that it might need in a hypothetical future conflict with China. Yeah. Let's zoom out a little bit and go back to the Middle East, because the president earlier today said, quote, to the U.N.

26:46and in front of the U.N., I believe we'll make a deal right after the election because it doesn't make sense for them not to. This is with regard to Iran. Then just before we went on air at 154 Wall Street time, we as Redhead crossed the Bloomberg terminal that the president says that the U.S. team met with Iranians earlier today. We don't have a ton of reporting around who exactly it was and where they met. Does it move the needle in ending the war? I mean, any type of engagement I do think is a positive thing forward. Just talking, being able to at least keep those lines of communications open.

27:18How else are you ever going to negotiate an end to a conflict if you're not talking? So having these discussions is a really useful thing. Whether it actually amounts in some type of deal or even some type of interim confidence building measure. some small step that can be taken that gets both sides to realize that they're both being serious about these negotiations. These are all positive things because at the end of the day, this war can go on and on, but I think it's becoming incredibly clear to lots of people that there is no military solution and no military off-ramp here. But yet the costs keep going up and I think about what we spend and what that means for our government and what we're not spending on, right?

27:59Right. And this is going to probably continue for years. It's going to continue for years. And I think we're going to hear it more and more, particularly as we get into that, you know, election cycle with the midterms. We're going to hear about what are these costs going to that they aren't going to elsewhere for the American taxpayer.

28:19Stay with us. More from Bloomberg Businessweek Daily coming up after this.

28:27So there's a lot of noise about AI. But time's too tight for more promises. So let's talk about results. At IBM, we work with our employees to integrate technology right into the systems they need. Now, a global workforce of 300 ,000 can use AI to fill their HR questions, resolving 94 % of common questions. Not noise. Proof of how we can help companies get smarter by putting AI where it actually pays off. Deep in the work that moves the business. Let's create smarter business. IBM. Let's talk about healthcare for a second. It doesn't always work the way people expect it to. If you've ever waited on a prescription refill or had a hard time getting the care you needed, you know the feeling.

29:08The system should just work better for everyone. That's exactly what the people at Optum are trying to do every day. They're a healthcare company linking patient care and pharmacy services and using data and technology to drive the whole system so care is connected, not complicated, for patients and providers. Things like making it easier to get care that looks at the whole person, from primary care doctors to mental health support and even in-home care, and then using technology to make sure they all work together. Technology designed to help doctors spend less time on busy work and more time with their patients.

29:41And those prescriptions? Optum is working to bring costs down, save patients money, and make it easier to get refills. Little by little, Optum is helping make healthcare work as one for everyone. Head to business.optum.com to see how. This is Alexis Christopoulos for Bloomberg Surveillance. AI is everywhere. Outcomes are not. Not because AI doesn't work, but because AI hasn't reached the workflows yet. The campaigns, the launches, the quarterly planning. Those workflows are still run by humans alone. AI is making individuals faster, but it's not making businesses more productive. That's the gap Asana is built to close.

30:21Asana is the operating system for human agent teams, your easy button for AI productivity across every team. Ready-to-go AI teammates pre-built for marketing, ops, and IT. No prompt engineering, no setup. They show up where the work is happening, already onboarded in your workflows, ready to deliver. And the more they work with your team, the smarter they get. With Asana, your whole company can work on the same plan towards the same goal, whether you're a team of 10 or 10 ,000. Asana, where humans and agents workflow together. Try it at asana.com. That's A-S-A-N-A dot com. Oil waiver to Saudi Arabia sought to resume flows on a vital pipeline.

31:03Not just that, though. President Trump said he's encouraged his advisors to approve a ban on diesel exports. This is the price of fuel skyrockets amid pressure from the wars in Iran and Ukraine. We've got a lot to talk about with Dr. Ellen Wald. She's president of Transversal Consulting. She's senior fellow at the Atlantic Council. She's the author of Saudi Inc. She joins us from Boca Raton. Ellen, good to have you on the program. I want to start with this export ban, potential export ban on diesel. Would that actually bring prices down? I think it would temporarily bring prices down, but overall, it could produce some pretty severe dislocations in terms of getting diesel supplies to where they need to go.

31:43So essentially, you'd have to impose a diesel export ban, in which case the price, excuse me, prices would go down. But then you need to also maintain this Jones Act waiver so that we have enough ships to ship the diesel to where it needs to go. And then we'd also see refineries when they realize now that there isn't as much demand for diesel and the prices aren't as high go into refinery maintenance because this is the season when they generally go into refinery maintenance. maintenance they're putting it off now because of the incredible demand but they would choose to then do that maintenance so then we'd see supplies go down more it could really create a lot of very difficult market dislocations I could see why a country like Russia imposes a ban like this but I think that if they just go forward with this on the idea that oh gotta bring the price down right now this is the only way we think we can do it we'd end up seeing a lot of difficulties all around the country in terms of procurement.

32:43What about the Saudi East-West Pipeline? They are said, the Saudis are said to be in the process of starting, early stages of starting up this key oil pipeline that has enabled Riyadh to bypass the Strait of Hormuz after it was halted earlier this month. This is according to people familiar. How important is this to global energy markets? So I do think that this is definitely key for global energy markets. It's definitely had an impact on the price of crude oil. We've seen it come down from earlier highs right when the damage was assessed at fairly substantial. I do think, though, that there needs to be some concern in energy markets as to exactly how much oil is going to be coming through, because this restart is basically a workaround.

33:29And they're going to need much more significant repairs to get the pipeline flowing back to its original rates. Essentially, they have to repair these damaged pumping stations. And I believe right now what they've done is sort of work around it. So they don't have the equipment needed to get the flows up to what they could be to the top pressure in the pipeline. So they've got to supply crude to their own refineries. It's unclear exactly how much they're going to have available for lifting. It does seem like they're expecting that they will have some because they've put out tenders for buyers to pick up crude there.

34:07But this this workaround has been really, really essential for buyers, especially in Europe, to get crude because they basically ship it to get to Europe. They basically ship it up to the Suez Canal or a pipeline that they kind of run parallel to the Suez Canal. Now, the oil goes through there and then it gets picked up by ships in the Mediterranean or the ships that go through the Suez Canal can continue on to markets in Europe. So, you know, it's a very tight situation. Europe is definitely experiencing some very, very tight situations in terms of crude oil and especially diesel right now. I hear that there are outages in some places of France because of this.

34:50You know, it is a temporary situation. Eventually, they will repair the pipeline, although it remains vulnerable to these kind of attacks. And so we now know that the pipeline can get hit and that the market dislocation would be severe. Ellen, I want to go back to and focus on diesel, which you just mentioned. And also, gas prices here in the US, we're plateauing a little bit, but at$4.48 a gallon as of yesterday, according to AAA. diesel is still up there at you know more than 650 a gallon right now we had a humayun tie on yesterday from mckinsey and he mentioned something that was interesting with the price of diesel going higher he was talking a little bit about some refiners moving into refining diesel and moving out of refining a traditional gasoline can you talk a little bit about that and like if diesel's high price could actually remove supply in the U.S.

35:52from gasoline? So my understanding, and I'm not an expert in the exact processes, but my understanding of how the refining process works is that refineries are built to basically optimally process certain types of crude oil. And that per a barrel of oil, you get a certain percent, you know, you get a certain amount of gasoline, you get a certain amount of diesel, you get a certain amount of jet fuel, and a certain amount of other products. And that retooling that is not necessarily all that easy because the refiners are designed to produce this way. I can certainly see why refiners would want to focus on diesel because there is a lot of money to be made there.

36:36Because even though oil prices are higher, diesel and gasoline, especially diesel prices, are so much higher that even if they have to buy oil for, you know,$99 a barrel or$95 or$90, they can still make so much money because the price, you know, they're selling their product for is so high. I'm not sure that it would behoove them to retool their refineries in a permanent way because, you know, it's not clear that this situation will be permanent. There is sufficient global refining capacity when refineries are online. Part of the problem is that there are refineries in the Middle East that would make these products that are now not really shipping internationally because the focus on shipping is on crude oil.

37:21And then there are these refineries in Russia. Now, if the refineries think that Russia is basically out of the game and that from the Middle East is not really coming back online, then I could see them potentially putting in the changes needed to focus on diesel. But again, you've got to take the refinery offline to necessarily make these changes. And right now, these refiners are just running full out. So I can see why it's an interesting calculation, but I don't think it's just as easy as flipping a switch and saying, OK, produce more diesel. Everything is set up to run a certain way in terms of the refinery.

37:57Ellen, just got a couple of minutes left here. You wrote Saudi Inc., the Arabian Kingdom's Pursuit of Profit and Power, written back in 2018. So not quite a decade ago, but we're getting close. You know, what is Saudi Inc. today and what would be the book you'd be writing in today's environment, given these two wars, in particular the U.S. war with Iran, but just kind of watching what's going on in the Middle East. But we've also got, of course, Russia and Ukraine, too. So I think that that Saudi Inc. is still extremely important in this, you know, to understand where Aramco comes from. For example, why Aramco is so focused on getting crude to its customers, fulfilling its customers' needs in the safest way it can.

38:44So there's a question about why didn't Aramco, why wasn't Aramco always loading oil and trying to get it through the Persian Gulf? Why were they so focused on loading from the Red Sea? And the calculation was that that was a safer way to guarantee that their customers could get this oil. And so when you look at the way that Aramco has grown and the way Aramco is set up, you can understand where their priorities are and how they're prioritizing these things and also why they're able to make these repairs very, very, you know, with a lot of haste. They're able to make them very well because they have prepared for this.

39:17But I do think that the situation is definitely changing rapidly, particularly because China is such an important area and Asia is such an important customer for them. And that the focus of Saudi Inc., I would say, is really shifting away from the West and further towards the East.

39:37Stay with us. More from Bloomberg Businessweek Daily coming up after this.

39:45The thing about AI for business, it may not automatically fit the way your business works. At IBM, we've seen this firsthand. But by embedding AI across HR, IT, and procurement processes, we've reduced costs by millions, slash repetitive tasks, and freed thousands of hours for strategic work. Now we're helping companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business, IBM. Let's talk about healthcare for a second. It doesn't always work the way people expect it to. If you've ever waited on a prescription refill or had a hard time getting the care you needed, you know the feeling.

40:26The system should just work better for everyone. That's exactly what the people at Optum are trying to do every day. They're a healthcare company linking patient care and pharmacy services and using data and technology to drive the whole system So care is connected, not complicated, for patients and providers. Things like making it easier to get care that looks at the whole person, from primary care doctors to mental health support and even in-home care, and then using technology to make sure they all work together. Technology designed to help doctors spend less time on busy work and more time with their patients.

40:59And those prescriptions? Optum is working to bring costs down, save patients money, and make it easier to get refills. Little by little, Optum is helping make healthcare work as one for everyone. Head to business.optum.com to see how. This is Alexis Christopoulos for Bloomberg Surveillance. AI is everywhere. Outcomes are not. Not because AI doesn't work, but because AI hasn't reached the workflows yet. The campaigns, the launches, the quarterly planning. Those workflows are still run by humans alone. AI is making individuals faster, but it's not making businesses more productive. That's the gap Asana is built to close.

41:39Asana is the operating system for human agent teams, your easy button for AI productivity across every team. Ready-to-go AI teammates pre-built for marketing, ops, and IT. No prompt engineering, no setup. They show up where the work is happening, already onboarded in your workflows, ready to deliver. And the more they work with your team, the smarter they get. With Asana, your whole company can work on the same plan towards the same goal, whether you're a team of 10 or 10 ,000. Asana, where humans and agents workflow together. Try it at asana.com. That's A-S-A-N-A dot com.

42:18How's that NASDAQ? How's that NASDAQ? Did you see this? The NASDAQ monitor gains eight-tenths of one percent to close at its first record going back to June. Yeah, just barely, right? Yeah. Ish. Yeah. But thanks to a big bump. What do you want? A record is a record. I want so much. What do you want? I have been told. No, you're right. It's a record. And kind of interesting in a day that was kind of a weird one. I feel like blah. We focus a lot on geopolitics, oil markets. We'll see if things are starting to settle down. But stay tuned because President Xi meeting with President Trump later on on Thursday.

42:51So that'll be interesting. Also stay tuned. Because we got a great hour coming. We're talking AI with Mandeep in just a second. Yeah, Muse. It's going to be great. Muse. Meta. Also, super intelligence. we're going to talk about? Super intelligence? Super intelligent? You'll see. Vandeep is going to leave in just a moment. He's like, I don't trust these two. Also, Anthony Scaramucci is stopping by. Yeah, he's got a book out. All the wrong moves. How three catastrophic decisions led to the rise of Trump. It delves into various administrations, those three moves. He's also got some thoughts about his 11 days in the White House.

43:2810 or 11. We're not quite sure. He says 11. I know. Some other publications say 10. Yeah, we'll see what he has to say because he lived them. So I want him to take us inside the White House as well. And also what his prescription is for maybe getting us on the right track in his view. Well, earlier today in a speech to the UN General Assembly in New York, President Trump dismissed calls for international agreement to put guardrails around the development of AI, brushing off concerns about the dangers of frontier models going rogue. Carol, that despite warnings from the UN Secretary General, Antonio Gutierrez.

43:59That's right. The leader of the U.K. also, France and Canada, even the leading AI labs have been warning about AI. The U.S. president, though, said his country's existing institutions will be able to mitigate any risks. The United States also totally rejects any attempt to construct a globalist scheme to control for the artificial intelligence being spoken of so much now, here and after officially called super intelligence. officially called super intelligence. So do not call it artificial intelligence anymore. Call it super intelligence. All right, we heard. All right, we got our own super intelligent person with us, Mandeep Singh.

44:40He's global head of tech research for Bloomberg Intelligence. He joins us here in the Bloomberg Interactive Brokers Studio. We'll get to the president's comments in a minute, but I want to set the stage because we haven't seen you in a while. We were out in California. When we were out there last week, a lot of what we were talking about had to do with what Dario Amadei wrote over the weekend, last weekend, warning about slowing down these frontier models. A lot of our focus last week was on the AI apocalypse. Should we be scared? No, I think all these model companies feel their models are good enough that they can now talk about slowing things down and regulations so that it's three or four entities that pretty much control the AI going forward.

45:26But those are US companies, Mandy. I mean, we got some news, some headlines out of China today about some models going rogue there. I think the open rate models have done quite well in the last six months, partly because their framing is more around, you know, how it's much cheaper to use open rate models compared to the frontier U.S. models, which are, you know, three or four times more expensive. At the same time, I mean, enterprises don't want vendor lock in. So if this race is consolidating to three or four players that own the AI or the super intelligence, then if you're a large enterprise, you don't want to be stuck.

46:08We saw the same thing in the cloud era. Every company wanted that ability to move across clouds. And in the end, we ended with three major clouds. But still, that multi-cloud was a very important thing. But we didn't think the cloud companies were going to inadvertently create some sort of biochemical weapon that could wipe out all of humanity. I mean, look, all these risks are there. But in the end, I think what these companies are highlighting is that these models have become very capable across different domains. And it's not just one domain where they're good at. So from that perspective, you know, the whole hugging face incident kind of illuminated everyone about what agentic functionality could do.

46:55I mean, you and I use chatbots, you know, ask a query, get a response. But when it comes to agentic stuff, these agents work for hours. What are they doing? They're trying to solve for a complex task. Now, that may involve hundreds of steps. Now, one of the steps could involve, you know, an agent doing something they wanted to cover up later on, which is what we are figuring out with the hugging face incident. So when you are talking about agents working for hours using so much compute and it's not auditable and no one is monitoring, that's where there is. Not when you're using for chatbot use case where you are getting a response back within a minute or two.

47:39Okay, so I keep thinking about, we've talked so much about geopolitics, defense, war today, and I think about mutual deterrence. And is there going to be some kind of mutual deterrence when it comes to the AI world, when it comes to the agentic level? Like, is that going to happen? Because there's a lot of money at stake, a lot of companies have a lot at stake to make sure that this works well and safely, right? Yeah, I mean, talking about mutual deterrence, look at what Meta has done with Muse this week. and they are getting into a turf where Amazon blocked them on, you know, within two weeks of the launch.

48:14Why are they doing it? Because they feel threatened by, you know, what Meta could possibly do in the world of e-commerce with this agentic functionality. Amazon owns lead generation and, you know, customer attention. People go to amazon.com directly. Suddenly, if you start using Muse. That entire traffic could be gone and then people would be surfing from Muse instead of going directly to amazon.com. But what is banning Muse from its platform? How does that solve that? Well, so the promise of Muse is you come to Muse, ask, you know, whatever your e-commerce query is, Muse will not only help you surface the best place to buy it from, but it will actually make the transaction for you because it has your payments information end to end.

49:06But if Amazon is the largest retailer that owns logistics and the largest inventory and it's blocking Muse from scraping the information, then Meta cannot serve its customers with the best value proposition item for the query they're asking. So then what does Meta do? I mean, that's where they have the technology. They have the model now. They have a very good UI, which is why, you know, they have added$500 billion in market cap over the course of three weeks. I mean, the stock is up 25 % over three weeks since they launched this. So clearly there's a lot of potential. Isn't somebody else going to create a very similar agent?

49:49I think the reason why Amazon is blocking is they will certainly launch their own agent and it will integrate with Alexa. I expect Google to do the same because this is encroaching on Google's turf in terms of the search market share. It's so funny. Is it one of Bill Gates' kids didn't create some kind of shopping app that supposedly, is it Fia or something? I know. Hold on. Where are you going with this? No, but the whole idea was, tell us what you want. We're going to find the best deal out there. Yeah. Read the Bloomberg reporting about the controversy around that we've reported on. Okay. I'm not saying go there, but that concept, like part of me said, it's about time that customers actually get to all this data and information, be able to access and get the best deal.

50:42They can. And that's where MetaMuse has a really good proposition. If you want, you know, deals for a certain brand or, you know, code discount codes that work, it's great in terms of surfacing that. And again, if it's integrated well with the supplier inventory, whether you're booking airlines or some sort of travel and it's integrated with that supplier, then it works. But what if the codes don't work? Even though they are surfacing the codes. And, you know, when you go to the actual platform, Meta, remember, doesn't own the inventory to book that travel. So that's where they need that ecosystem to tie in.

51:22But clearly they have the functionality and the vision and they have created the right UI to make it happen. So on Muse and where it fits in versus Anthropics, Cloud, and OpenAI's chat GPT and other LLMs, how would you describe its lane versus what's already out there? I mean, meta, I think, is clearly focused on that consumer use case now, whereas Anthropics, you know, the mojo was around cloud code and enterprise use cases that they have cracked. So now you are seeing a bifurcation between these LLMs focusing on consumer versus enterprise. OpenAI is still doing both, and it will be interesting to see which way they end up.

52:11We had two people join us yesterday. Well, sorry, one person joined us on air and then one person texted us separately as we were talking about Muse. Was it Emily Green on set with us? Who, I think it was Emily. Yeah. Who made a comment about the challenges that Meta might have with its privacy history. I had another, I had a friend texted me yesterday about like, he referenced Cambridge Analytica and privacy scandals and data scandals in the past. And if that could be some sort of hurdle for Meta to get over to wide scale adoption, it doesn't seem like it. I mean, look, I think on the consumer side, they already have, you know, four billion monthly active users across their family.

52:57Facebook Marketplace, like think about it, right? They already know a lot. Instagram, right? But that's where it's the right thing for them to focus on. If Meta was focused more on that cloud code type of enterprise use case, I would have said no chance given that privacy aspect and things that you just mentioned. But on the consumer side, they could use a lot of their own Instagram links and surface that through Muse. And I think that would be quite engaging. Is this a game changer for Meta in your view? I mean, all the concerns around ROI, especially with regards to meta, given they don't have a cloud business, this is their answer.

53:36And I don't think it was worth$500 billion in terms of market cap. So it's like saying they could generate up to$10 billion in revenue from this product over the next two years and putting a 50 times multiple on that and adding$500 billion in market cap. So there's already a lot priced in after this launch, and the excitement clearly is reflected in that bump they have gotten. So I don't think it's worth$500 billion in market cap, but that's how the market is treating it right now. And the market only gave back a little bit today on it after that 11 % bump. What does the news we got from Meta and Muse, what does it say about how we can start thinking about AI's impact on our world, especially when it comes to agentic AI?

54:22I think everyone will have a personal agent. That's the vision that Meta has. And I think Apple, Google, all the companies that are focused on the consumer side will take this very seriously. I expect them to have a personal agent offering. Amazon probably is doing that as their blog muse. And, you know, we will be offloading a lot of the e-commerce type of transactions. Not everything, not the big ticket items, but some of the mundane purchases to our personal agents. Can I just ask, who makes those agents for us? Are we going to have a company that makes each one for us? Do we make it ourselves?

55:04So the Meta's agent, Muse, is personalized to you. Yeah, you're right. So at the end of the day, they already know a lot about you. They don't because I'm actually not. You're not on Instagram. Well, a little bit. Okay. You're right. But maybe, I mean, I was talking about my recent sneaker purchase. Yeah. I wanted Cloud Monster 2s from on running, but it doesn't seem like the color is made anymore. They want you to buy the Cloud Monster 3, but I spent some time searching around the internet for this. I could have had an agent do that and then buy the actual shoes for me. Yes, that's the use case that Meta has solved for, and they have reduced a lot of that friction in terms of searching and finding that exact item.

55:48You can describe it And the muse agent I just want the dinner I just want to get home And not have to make dinner Yeah There's a lot of things Make the bed Yeah Do the dishes Will there be a point though Where just like in search People pay to be kind of You know Come up high on the search That the same thing That these agents Like that same problems People will pay for Like this version of SEO Yeah Yeah well Even on Amazon.com There are sponsored ads Yes And you know They make a lot of money Off of that But I think with LLMs and agents, you need objectivity to surface the best information. Because let's say you show a sponsored placement as a result.

56:29Then I'm going to lose the interest in coming back because there is a better option that if you were totally objective, you would have surfaced. But because it's a sponsored placement, you didn't show me the best option. So do you pay for this for Meta? How do they make money off of it? I think right now they are giving, they're very generous and subsidizing, you know, the use because they want you to use it. But it's premium also like the others. Like if you want to do more with it, you can pay. I'm sure they are spending a lot more on compute given they're giving you 100 million tokens per week.

57:02That's a lot of compute. Yeah. And so they're not charging anything. For higher tiers, they are, but still it's subsidized because they want you to use it. Yeah. Are you going to get it? It's kind of wild. Carol just bought a subscription to... Well, I was working on something with ChatGPT. You have an agent now. And I went up a tier. Do you go up a tier? You must go up a tier because you have to. Yes, I do compare. And look, ChatGPT was early in terms of being a personal agent, but they never really cracked e-commerce. I feel Meta has made progress in terms of kind of hitting the e-commerce, the online marketplace transactions where we actually spend our dollars.

57:49You know, don't discount Amazon. I was using Amazon's search AI feature the other day to look for something I ordered in a Whole Foods order. It worked really well. I have to tell you, I was somewhere and I got like a picture of a shoe and I was like, this is really kind of cool. And I put it in there. It took ChatGPT a little bit to kind of figure it out. Did it find out? It got me there. I didn't buy anything. You should try Muse. Really, really. Like, got to listen to Mandeep. I always like, after you're here, I'm like, I got to try this thing. I got to try this thing. Well, you know what's good is Mandeep doesn't think the world's going to end as a result of AI.

58:22So that's good. And you trust the U.S. is going to be on top of this? I think so. Yes. It will only give us more time to do other things. So the agentic world is going to be good. Like take vacations? Yes, I think so. I'll hold you to it. Mandeep Singh, Global Head of Tech Research at Bloomberg Intelligence. This is the Bloomberg Businessweek Daily Podcast. available on Apple, Spotify, and anywhere else you get your podcasts. Listen live weekday afternoons from 2 to 5 p.m. Eastern on Bloomberg.com, the iHeartRadio app, TuneIn, and the Bloomberg Business app. You can also watch us live every weekday on YouTube and always on the Bloomberg Terminal.

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