I'm John Batchel. I welcome Elizabeth Peake, my colleague. She writes a column for the Hill, a column for Fox News,

much on Fox Business, to comment on the latest excitement on Wall Street. AI. Yes, you thought it was

some time ago. No, it keeps coming back. We replay it every so many days. There might be a pattern here.

The momentary excitement now is that AI is going to replace human beings and systems that

have been worked up for many years in the dot-com revolution of the late 20th century.

And more.

In fact, the word doom is used repeatedly on the front page of the Wall Street Journal

headlines online. Liz, a very good evening to you. The word doom gets attention on Wall Street.

I don't know why, because we've been through this before. How many times have we been doomed

at our lifetimes? Nonetheless, this complaint has merit because AI is new, and there's a lot of money being

spent on AI without demonstrated bottom line success.

The latest doom, however, has to do with the untrustworthiness of the software.

At the same time, the departure of human beings.

How do these things go together? Good evening to you, Liz. Good evening, John. What we've seen

over the last two or three years is a building enthusiasm and excitement about AI. No question about it. Mag7 stocks have turned in

just incredible performance over the last few years, dominating the stock market, taking an ever

bigger share of the stock market valuation. And so naturally, I think, since these kinds of investments, these hundreds of billions of dollars

investing that many companies are making don't immediately pay the kind of dividends that maybe

investors want, the stocks have come under a lot of scrutiny, the business model has come under

scrutiny. And I think maybe what we saw over the last

48 hours is the impact on businesses generally, the impact on commerce and most importantly,

the business, the impact on white collar professions and employment really come to the surface.

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