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Marketplace All-in-One

Car repairflation

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 14 September 2023

⏱️ 7 minutes

🧾️ Download transcript

Summary

One spending category that is seeing inflated costs compared to last year, according to the August CPI, is motor vehicle repairs. We’ll visit a mechanic to find out why. Hint: New car parts are a lot more expensive than they used to be. Plus, tech giants met with congressional leaders to talk AI regulations and some C-suite execs see climate change disruptions as, frankly, not their problem.

Transcript

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0:00.0

If new forms of artificial intelligence are a Pandora's box, who will build the box?

0:07.1

I'm David Brancaccio in New York, some titans of tech were on Capitol Hill yesterday for

0:12.0

an unusual forum on artificial intelligence.

0:15.7

Senate leaders convened the closed door hearing as they tried to figure out the best way

0:19.5

to regulate the new technology, Marketplace's Nancy Marshall Genzer reports.

0:24.2

Elon Musk warned that AI posed risks to civilization.

0:28.4

Mark Zuckerberg said Congress should engage with AI to support innovation and safeguards.

0:34.3

Union leaders were also there.

0:36.2

Senate Majority Leader Chuck Schumer said he asked if the government should have a role

0:39.9

in regulating AI and, quote, every single person raised their hands.

0:44.6

There's a lot of debate on what that would look like, though.

0:47.4

Schumer says regulations are needed to deal with things like AI bias and worker education.

0:53.0

He said new rules are especially important before next year's presidential election.

0:57.6

Things like deepfakes, which could deceive voters.

1:01.1

I'm Nancy Marshall Genzer for Marketplace.

1:04.2

Yesterday we learned inflation in August went up six tenths of a percent, a spike driven

1:09.3

in large part by gas prices.

1:11.4

Something else we noticed, the cost of fixing a car or truck is up 17% in a year.

1:17.2

Marketplace's Stephanie Hughes reports.

1:20.0

At East Baltimore Carcare, mechanic Jerry Fiden has worked on six cars so far.

1:25.2

He's got seven to go before the end of the day.

1:27.7

He says the cost of everything has gone up.

...

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