Organized Retail Crime & AI: Bad for Humanity? 5/18/23

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 18 May 2023

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Retail shrinkage is hitting the bottom line for major retailers like Target, Home Depot, and Walmart. National Retail Federation CEO Matt Shay explains the theft and organized retail crime that amounted to nearly $95B in 2021 and is likely to cost retailers even more this year. Anti-Defamation League CEO Jonathan Greenblatt discusses ethical and responsible AI innovation, including protecting children and effective regulation. Plus, Greenblatt considers Elon Musk’s opinion on free speech and on the negative impact that AI might have on humanity. Plus, Montana is the first state to ban TikTok, and both sides of the aisle are working to avoid a default in DC. In this episode: Jonathan Greenblatt, @JGreenblattADL Matt Shay, @NRFnews Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

Click on a timestamp to play from that location

0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squack Pod.
0:09.0	Retail theft, the toll shrinkage is taking on target, Walmart, and others, and the toll it's taking on consumers.
0:16.6	National Retail Federation CEO, Matt Shea.
0:19.2	Either it's going to drive up prices or it's going to take those goods off shelves or make them harder to
0:24.7	access which is going to impact the consumer experience or it's going to force
0:28.4	store closures in some of these places. No retailer of course wants to close a
0:31.8	store.
0:32.8	And how to keep artificial intelligence ethical
0:36.3	with the Anti-Defamation League's Jonathan Greenblatt.
0:39.0	The bigger issue for me is how kids are using this.
0:41.2	And to put some regulations on that like we regulate cigarettes and
0:43.9	alcohol I think would make a lot of sense but outright banning the company I don't
0:47.8	think that's the right approach. Those stories plus Montana banning
0:51.7	Tik-Toc or trying to,
0:53.6	and the market number hit the most
0:56.0	by the debt ceiling back and forth and back again.
0:58.6	If you fell asleep or if you went away
1:01.4	and on a spaceship and came back,
1:03.2	you'd be like, what are people talking about?
1:05.3	Or you might say that anyway.
1:06.8	It's Thursday, May 18th, 2023,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.