Bloomberg Audio Studios, podcasts, radio news, single best idea and today we focus on one voice and it was a phenomenal day, all sorts of good people to talk to. Dan Ives was on with Webbush and he was just blistering about the significance of this Oracle move. To summarize here and not take a lot of time on it. Oracle leapt over thirty percent today on the market opening. I said this on air. I'll say it again. I have never seen a blue chip stock leap have a
complete restructure reanalysis. After what we saw from Oracle last evening, profound, profound performance. I should mention for clarity, Oracle is one of the good sponsors of Bloomberg Surveillance. We thank them for that support. But that's just a stunning, stunning moment, and many others as well. All Senator on Annawan's important Bloomberg Economics essay, saying, look, the employment revision yesterday, Guess what it means. We've been in some form of recession
going back to the spring of twenty twenty four. She finishes her note by saying, well, things look better now. Maybe we're at the beginning of a more constructive business cycle. What a treat today to have in from McKinsey Global Institute, Michael Cheua, he's out of Stanford and at Indiana did absolutely definitive academics on what we do every day, which is search. Michael Chewa of McKenzie on search.
For several years, you know, AI usage, a regular usage of AI had sort of plateaued around fifty percent, you know, since the advent of jenerative AI chatchypt Claude Gemini, and it's like, you know, that is really accelerated. And now we see about ninety percent of the companies in our survey saying that they're using A regularly. At the same time, the majority are not saying it's having a significant impact
on its EBIT yet. But what we do see is that the individual use case or business function level, it's starting to create real value. And so what we say is that's a process. To your point about industries, Yeah, the tech industry, for instance, has moved ahead. But in fact, rather than an industry having quote unquote figured it out,
what we're finding is lots of variation within industries. And so again the companies that have figured out how to rewire themselves right, whether it's travel and logistics or high tech, they're just accelerating past their competitors.
We continue with Michael Cheua of Stanford, of Indiana, of McKenzie and basically, if to a dummy like me, it's like, okay, late nineteen ninety four, early nineteen ninety five, a revolution Tua on the view forward.
I think one of the interesting things, and it's a bit of a the you know, a debate within the artificial intelligence community. A lot of the excitement now is with these quote unquote neural network models, and that's underpinning a lot of what you know, we currently often describe
as AI. But you know, AI started in the nineteen fifties, or the term was invented in the nineteen fifty five, and for a lot of that time, you know, the term, you know, symbolic systems at Stanford comes from using logic, using this way that we've managed to formalize reasoning. You know, one of the things that people who use neural network models are trying to do are trying to make it
reason better. But we also had all these other types of symbolic ways of reasoning, and I think we're also starting to see the hybrid models, and so I think what we're seeing is, you know, history again, doesn't repeat itself, but it does come back. We've had these debates about what the best way to create AI has been, and that's moving forward.
Mackenzie gives great access to those reports. Go to Mackenzie and look for the report in March an Artificial Intelligence AI with, among others, Michael Chew. We're on podcasts right Apple, We're on spotif hand YouTube podcast. It's single best idea. Hm