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00:00There's all this hype around AI and I feel like you've been able to kind of see through that and make very rational investments at each step along the way and one of the points that you've made is that okay there's all this hype but like really at the end of the day if this is going to lead to massive increases in productivity that needs to be reflected in major increases in GDP and that this is going to take like some like multiple years many years to kind of play out.
00:26And I'm curious how you think what's your current outlook on sort of what we should be looking for to understand the progress that this is making.
00:34I think AI has the promise but you now have to sort of really have it deliver the real change in productivity and that requires software and also management change right because in some sense people have to work with it differently.
00:49You know people always quote what happened with electricity right it was there for 50 years before people figured out that hey we got to really change the factories to really use electricity differently right and that is the famous Ford case study and so to me we are in somewhere in between I hope we don't take 50 years.
01:08Yeah well we're all investing as if it's not going to take 50 years so I hope it doesn't take 50 years.