>> While Jenner generative AI might be useful for gathering information quickly are just fun to see what your dog would look like as a human.

It's also a technology that some are warning is on the bubble.

A recent study from MIT shows 95% of firms who adopted generative AI did not profit ringing the alarm for investors who flocked to the technology.

Joining us now with more, Steven Keith Platt director of the AI Business Consortium and Lab for Applied AI at Loyola University.

Chicago's School of Business and via Zoom.

We have Joel Shapiro, professor of data analytics at Northwestern University's School of Management and Ben Zhao Neubauer professor of computer science at the University of Chicago.

Gentleman, Welcome back.

Thank you for joining us.

Then let's start with you, please.

What is the state of AI market in the United States?

And why are some experts warning of an economic bubble?

that's a big question.

I where is I think it's at a stage where, you know, we're at the precipice of potentially very wide deployment.

>> And a lot of different modalities that different different lot of different fields.

But it's also at junction where I think a lot of the practitioners who are, you know, debating and thinking about deploying AI are actually still not quite Fiorina and knowledgeable enough about exactly what the technology can and cannot And so I think that's really the tire hitting the road that have a moment where a lot of industries are trying things.

And yet oftentimes in real time, the funny out when things don't quite apply in and when some of the marketing contract to be high.

And of course, that couple what the tremendous amount of actual capital investment in the market.

And, you in financial markets, that's where you have, you know, potential risk for a real public person.

>> Joe, how might it be difficult to measure the return on investment for AI integration for companies?

>> Yeah, I mean, look, everybody wants some sort of measurable our O-line.

You want to know that what they're putting in, they're going to get something out.

And then some part of the problem is that way in.

>> Companies see AI as truly.

Existential that are really is essential for their survival.

>> They're going to go forward with integrating it and figuring out how the bees AI-driven company N measuring the return on something that's all about survival kits really, really challenging.

You know, sometimes when we think about using AI for small-scale initiatives that really easy to sort of figure out what's the benefit once the costs, those are easier things to figure out.

I think the burden is on every company to sort of figure that out for themselves and those smaller scales.

The challenge becomes when, as I said, it becomes truly existential and companies undergo on transformations say we've got to do this on the West.

We're just simply not going survive.

And that's really hard to measure the benefit.

We're talking about something as big simply surviving.

So it really sort of all over the place depending on how eyes being deployed.

>> Stephen, Keep plant.

You've been working with large language models for nearly over a decade.

And we've seen trends like AI before, like the dot com bubble in the early 2.

Thousands think some of us called dot bomb times.

We've seen a focus on data, analytic analytics algorithms, the now AI, of course, has taken center stage.

Can you clarify what technology is being referred to when we're talking about AI adoption?

Generally when in the they typically refer janitor the AI chat gpt that are centered center.

>> But what a lot of people miss is there's a lot of other applications that are very practical and profitable.

Little been going on for years.

For example, you know, your basic and now.

>> Prediction algorithms that you could use for supply chain optimization truck route optimization.

These things have been around for years long before Gbt accent or became popular and the popular Press doesn't focus on that.

They focus on things like Mit report, which is extremely misleading, by the way.

>> say more about that because as we've referenced that in it report shows that 95% of firms that adopted generative AI didn't profit.

What's your concern with that report by concern is?

>> One only focuses on Jenna.

I win.

And that's a a segment on Also, they're the metrics that they use are basically broad scale adoption within an organization.

And that's just not always the case.

Joe mentioned UNOS implementing some, you solutions that are very practical and easy to execute.

For example, looking up an employee's health records or stuff like that.

These are these are not large-scale implementations.

They're cost effective to have a lot of productivity enhancing benefits that was not covered in an MIT study.

>> Been Joe, you've been outspoken advocate for the regulation of AI.

What are some of the guidelines that you think are necessary for the future as we further develop this technology.

>> lot of there.

But I think, you know, accountability and are probably some of the first things that come to mind.

You just like John and others have already said, you know, there is in many cases this feeling that, you know, this is all at the central and companies feel like they must.

And Gray said, you know, full on or else they're going to miss out.

And so, you know, that type of pressure has led, you know, not just AI developers, but also the application developers society at large.

Really think about this a must.

And along the way, we sort of push aside issues like copyright can you know, licensing, we've, you know, from the way issues of, you know, right publicity for personal images, right?

When models actually take over and mimic your face, your body, your voice and you can be used all sorts different applications.

So, you know, I would say perhaps, you know, right now we're really focused on transparency as something that, you know, it's probably the least controversial out many, many different degrees of tension, but certainly accountability for, you know, models.

I you know, in many cases inflict unintended put into the wrong hands and someone has to be accountable for what these models and of doing once they're released into the wild.

Right.

So I think these are really critical questions.

>> Joe, more and more companies are adopting AI into their workflow with hopes of reducing labor.

Most notably companies like Amazon who lost roughly 14,000 jobs because of AI for AI related reasons.

What does all this mean for workers in tech?

So.

>> To the extent that there's some sort of correction when we started talking about whether there's a bubble and that's always a hard thing to know when you're in the middle of that, of course, raises in retrospect, if there's a correction, it's definitely did.

intend is going venture markets.

You know, it's not going and all of the innovation and sort of what I think is most heartening about this.

I mean, job losses and it's really having a ball when you get these kinds really exciting technologies where there is over investment.

But what ends up happening, at least impasse.

Context like this is those mobiles, if you will, to financial infrastructure that later on tends to fuel the real growth.

When seem talked about It think part of the problem with the 95% some of the benefit that 95% failure rate.

Some of the benefit is still yet to come.

The impact AI and workforce.

It's going to be very and even it's going to replace some jobs.

But it's ultimately going to change how everybody works.

And that's very much still serve to be determined.

there's going to be some messiness serve as we get to whatever that equilibrium point we're going to get there, whether it's by a bubble or some sort of over investment.

But we're going to get there soon enough.

>> So what you're saying?

It's not replacing me just season.

20 seconds left.

You know, an AI landscape, do you think the existing laws protections around intellectual property, privacy, other protections?

Are those sufficient enough to adapt to where this technology is having?

I absolutely think so.

And I think there's a lot of hype about the need to regulate this industry.

There's plenty of >> laws that protect IP this play laws that protect IP intellectual.

going yet so that the rush to regulate, I think could have a negative impact on the growth of the industry.

That doesn't mean that ethics accent or shouldn't be addressed.

And morning mindful.

But there's plenty of this plenty to