How companies can prep employees for the AI economy

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**Kimberly Adams** (1:01)
How companies can prepare employees for the changes coming in the AI economy.
From Marketplace in Washington, I'm Kimberly Adams. We'll get to AI in a bit, but first a check-in on what's ahead today in economic data. For that, I'm joined by Julia Coronado, founder and president of Macro Policy Perspectives and a professor at the University of Texas Austin. Good morning, Julia.

**Julia Coronado** (1:24)
Good morning.

**Kimberly Adams** (1:25)
The conference board will release its leading economic index report later this morning. What are you going to be looking for in that?

**Julia Coronado** (1:33)
Well, honestly, with the war going on, the ebbs and flows, the leading economic indicators aren't even as leading as they used to be.
Right now, really, all eyes are back on the war, the flow of energy, energy prices, which had just given consumers some relief, look to be on the way back up again. So, it remains a very fluid environment.

**Kimberly Adams** (1:57)
The major US banks released their earnings last week. What were your main takeaways?

**Julia Coronado** (2:01)
There's a lot of activity on the trading side because of the volatility that generates a lot of revenues. There's a lot of capital raising happening related to the AI. That's another source of revenues for banks and consumers are holding in. They're not booming, but they're not falling off a cliff.
So, overall, the banks are doing just fine.

**Kimberly Adams** (2:23)
When it comes to AI, we have seen quite a sell-off in some of these biggest AI companies, and it's been sending Asian markets down for sure, and there was a sell-off in US markets last week as well. What do you think is ahead there?

**Julia Coronado** (2:38)
Well, there's another threat from a Chinese company that is apparently producing AI at a much, much lower cost. This is part of the competition that AI companies are having, who will win the race, and part of that depends on how efficiently you're producing the AI. There's a level of sophistication versus the efficiency and cost of production, and this is a whole new frontier, so we're seeing some of those higher valued companies under pressure because of that.

**Kimberly Adams** (3:09)
Julia Coronado is founder and president of Macro Policy Perspectives. Thank you, Julia.

**Julia Coronado** (3:14)
My pleasure.

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**Kimberly Adams** (4:55)
For some, artificial intelligence is exciting. A way to make work easier and more productive. But for others, it's something to fear. A powerful tool that could completely upend the workforce and strip people of their jobs. Linda Hill is a professor of business administration at Harvard Business School and the faculty chair of the leadership initiative there. She studies how organizations navigate these kinds of challenges and the risks that come with AI.