AND A HALF, WE GOT IT GOING THIS
MORNING.
JOINING US RIGHT NOW TO TALK
MORE ABOUT THAT WILLIAM, HE IS
THE CEO OF ROBO GLOBAL.
GOOD TO SEE YOU, WILLIAM, GOOD
TO SEE YOU.
TERMS OF ROBOTICS AND TRADING IN
THE LAST TWO DAYS, WHAT HAVE YOU
SEEN?
>> WE HAVE SEEN PRETTY MEASURED
BEHAVIOR, I WOULD SAY FOR THE
MOST PART, INVESTORS RECOGNIZE
THAT THIS IS A LONG-TERM TREND
AND I DON'T THINK A LOT OF OUR
INVESTORS ARE PRETTY SPOOKED BY
THIS.
WHEN YOU THINK OF THE GROWTH
INHERIT FROM THE TECHNOLOGIES,
MOST INVESTORS ARE COMING TO THE
CONCLUSION THAT THESE ARE
INDUSTRIES AND ALL MARKETS, THE
NARRATIVE IS ABOUT GROWTH AND
BETTER GROWTH.
MARIA: INVESTORS ARE LOOKING
BEYOND BETTER MOVE AND POINTING
TO STUFF THAT WE HAVE BEEN TALK
ABOUT, DAGEN, AND THAT'S A
DAGEN: THE ISSUE IS IT GOT AHEAD
BUT INDIVIDUAL INVESTORS FINALLY
STARTED GETTING INTO THE MARKET
IN JANUARY WITH MORE THAN A
$100 BILLION GOING INTO EQUITY,
MUTUAL FUNDS AND EXCHANGE TRADED
FUNDS AND THAT IS IF YOU ARE
LOOKING AT WARNING SIGNS THAT
WOULD BE SOMETHING TO BE
CONCERNED ABOUT HERE.
>> AS YOU LOOK AT OUR INVESTOR
BASE, WE THINK OF COMPANIES,
LESS THAN 2% OF THE COMPANIES
ARE IN TRADITIONAL INDICES, THIS
IS NOT REALLY OVERLY GROWN
GROWTH.
MARIA: SOUNDS LIKE YOU'RE
BULLISH.
>> I'M BULLISH.
WE THINK ABOUT AS INVESTOR, I
INNOVATION THAT IS WE ARE GOING
TO SEE IN THE COMING YEARS, THIS
IS UNPRECEDENTED.
MARIA: I WANT TO HEAR ABOUT THE
INNOVATIONS.
KEVIN: THE TRUE TESTAMENT IS
INFLOWS AN OUTFLOWS.
CONSISTENTLY ADD TO GO THAT AND
WHEN YOU GET A SELLOFF, THEY HAD
MORE EXPOSURE, THEY DON'T SELL
THE EXPOSURE, YOU TALK ABOUT THE
2% OVERLAY AND THE EXPOSURE THEY
HAVE NOW AND CAN'T GET IT
ANYWHERE ELSE, I SEE SOME OF THE
NAMES, ZEBRA TECHNOLOGY, THESE
ARE TRADITIONAL NAMES PEOPLE ARE
GETTING EXPOSURE THROUGH, WHAT
THE COMPANIES DOING?
MARIA: YOU CAN'T FIND THE
COMPANIES IN TINNED EXOOSES,
CHAIN.
ABOUT TECHNOLOGIES IN MACHINE
VISIONS, COMPANIES IN THE U.S.
LIKE COGNIX OR KIOSX IN JAPAN.
YOU THINK ABOUT ADB, THE FANS IN
ENTIRE UNIVERSE OF TECHNOLOGY
AND APPLICATIONS.
MARIA: WILLIAM, WHEN ONE THING
GOES DOWN, A MARKET THAT WAS
DOWN 1100 POINTS YESTERDAY
WHETHER YOU'RE IN ROBOTICS OR IN
FINANCIALS YOU GOT HIT.
>> SURE, WE CAN'T ESCAPE, THE
CORRELATIONS AND MARKETS SAW GO
TO ONE.
AFTER ADJUST PEOPLE PICK UP THE
BALL AND FIGURE WHERE THE GROWTH
IS.
THIS IS REALLY THE FUTURE
GROWTH, TECHNOLOGIES LIKE
ROBOTICS AND AI ARE ENABLING
HUGE SORT OF INNOVATION
PROSPERITY.
JON: I WANT TO ASK YOU ABOUT TWO
THINGS, ONE IS THE BROADER
MARKET AND ONE IS SPECIALTY OF
ARTIFICIAL INTELLIGENCE.
HOW DO YOU EXPLAIN WHAT HAPPENED
YESTERDAY, WHAT DO INVESTORS
WAKE UP THAT THEY WERE ATTUNE
ECONOMY, WHERE ARE YOU SEEING
THE TECHNOLOGIES CHANGING CHANGN
WAY PEOPLE DO BUSINESS AND WORK?
TIME, WHAT ARE WE TALKING ABOUT,
WE ARE TALKING ABOUT GROWTH.
THERE'S AN ADJUSTMENT PROCESS
GOING ON HERE WHERE WE ARE
PRICING IN GROWTH AND MAYBE
INFLATION, SO, YOU KNOW, ANY
SORT OF CHANGE OR ADJUSTMENT TO
THE MARKET AND THAT'S WHAT WE
ARE GOING THROUGH AND I THINK
IT'S DEFINITELY HEALTHY.
DAGEN: ONE THING TO POINT OUT
BECAUSE YOU WERE TALKING ABOUT
THE STOCKS NOT BEING WILDLY HELD
NASDAQ OR NASDAQ ARE IN THE RED
FOR THIS YEAR.
RUSSELL 2000 IS DOWN ALMOST 3%.
THAT'S -- ALL THE MAJOR STOCK
MARKET GAIN THAT'S THE HARD
ITSELF HIT FOR SURE.
>> IT CERTAINLY HAD A PRETTY
GOOD ADJUSTMENT THE LAST TWO OR
THREE TRADING SESSIONS, 8 OR 9%,
GIVEN THE MOVE IN THE LAST TWO
WEEKS, 50% PLUS, AGAIN, THIS IS
ADJUSTMENT THAT WE SORT OF
HERE IN THIS MARKET,
PARTICULARLY IN OUR INDEX, YOU
HAVE WATCHING IT GO STRAIGHT UP.
MARIA: YOU HAVEN'T SEEN
INDIVIDUALS OR ETF HOLDERS GET
NERVOUS EVEN WITH THE THOUSAND
POINTS YESTERDAY?
>> THE MEDIAN IS 21 TIMES
FORWARD EARNINGS.
NOT TOO DEMANDING.
DAGEN: ALL THE RETAIL WEBSITES
LIKE MUTUAL FUND WEBSITES, SLOW,
REALLY SLOW.
HARD TO XEE CUTE -- EXECUTE
TRADE.
MARIA: THAT'S NOT GOOD.
KEVIN: ONE OF THE THINGS BEING
LOST, IF I WILL INVEST IN
ROBOTICS AND AI, I WILL INVEST
LONG-TERM, WILL IAM SAID IN
DAVOS.
MARIA: THIS IS NOT THE 90's
ANYMORE.
MAYBE YOU ARE IN BITCOIN, PEOPLE
ARE A LOT SMARTER TODAY THAN WE
THE ECONOMY, TELL US HOW AI,
ARTIFICIAL INTELLIGENCE, ARE
ACTUALLY CHANGING THE ECONOMY IN
THE WAY PEOPLE DO BUSINESS RIGHT
SMART AUTOMATION, BRINGING
BETTER PRODUCTIVITY, THINK ABOUT
HOW IT'S BEING USED IN MEDICAL
INDUSTRY.
THE DOCTOR CAN LOOK AT CANCER
CELL, HE PROBABLY HAS A 10%
ERROR THERE.
YOU HAVE A MACHINE THROUGH AI
THAT CAN LOOK AT A MILLION
IMAGES OF A CANCER CELL AND
DETERMINE WITH 99.99% ACCURACY,
THAT'S A CANCER CELL.
MARIA: THAT'S INCREDIBLE.
JON: WHO IS DOING THAT?
>> BUT THIS IS GOING TO EVOLVE.
THESE TECHNOLOGIES ARE REALLY
EXCITING, I DON'T THINK THE
AND WHAT THIS WORLD IS GOING TO
LOOK LIKE IN 3 TO 5 YEARS FROM
NOW PEOPLE WILL HAVE A HARD TIME
PREDICTING IT, MATERIAL SCIENCE.
JON: YOU DON'T THINK IT WILL
KILL JOBS IN THE PROCESS?
>> I THINK THIS IS -- ROBOTS ARE
WORKING ALONG SIDE OF PEOPLE,
LOOK AT THE NARRATIVE WITH
AMAZON, AMAZON BEGAN AUTOMATION
INITIATIVE THREE YEARS AGO, THEY
STARTED OUT WITH 45,000
WAREHOUSE EMPLOYEES, THEY'VE
ADDED 100,000 ROBOTS AND ADDED
45,000 EMPLOYEES, IN MANY CASES,
AUTOMATION -- WHAT IT'S DOING
EMPLOYMENT.
MARIA: I THINK YOU'RE RIGHT.
WE ARE AT A MOMENT IN TIME WHERE
WE ARE GOING TO SEE A VERY
CHANGED ECONOMY IN JUST THE NEXT
FIVE YEARS OR SO AND YOU ARE