hi, everyone, welcome to "on the money. you can't see it and can't hear it but it is everywhere. the high tech fphenomenon that' affecting your live at every turn. what homeowners are not doing that could save hundreds every month. the language of success, the career that's never lost in translation. if you've got a new job, what should you do with that old 401(k) lots of choices and even a few good answers from managing money, one man's as tounding journey. "on the money" starts right now. >> this is "on the money", your

money, your life, your future. now, becky quick >> we begin with artificial intelligence from online shopping to self-driving cars, ai is the brains behind the computer software that is in every part of our lives. in the medical field, it is saving lives as meg terrell reports, computers are smarter and faster but sometimes it takes a person to come up with a really great idea. >> reporter: m.i.t. professor teaches computers how to learn her work focused on areas like translation of ancient languages until a breast cancer diagnosis three years ago. >> going through it i realized we have more sophisticated technology to select shows on amazon than to adjust treatments. >> she set out to change that using her expertise in artificial intelligence and machine learning in collaboration with doctors at mass general hospital, the group

is training computers to analyze mammograms, the hope, detect signs of cancer earlier than the human eye is capable of. >> there was no -- was there something in this very complex images that would hint us that this is the wrong development. for a human to look at it, it's hard to quantify the change. for a machine which may look at millions of images people like me, this should really help them to learn what are those early signs. >> experts say artificial intelligence will change the practice of medicine, starting with diagnosis they founded path ai a year ago after winning a competition to teach computers to diagnose breast cancer from digital images their system became so smart, the accuracy surpassed that of an expertly trained pathologist. they see the biggest potential

in teaming up -- >> by 85%. >> she hasn't given her focus on computer language processing but now teaching computers to read health record to make more permized treatment decisions and improve the practice of medicine. >> now after being a patient, i really very strongly feel that, you know, it's my dputy to go an change it. >> some people talk about a future where artificial intelligence replaces doctors, most see it more as a tool to help them do their jobs better. >> thank you very much meg terrell. >> health care is one arena where artificial intelligence is getting smarter. april glaser, thanks for being here today. >> thanks for having me. >> what is artificial intelligence, how would you characterize it? >> well, you can think of it as software, a computer program

that does something automatically. if something has artificial intelligence in it, that means it has software in it that allows the computer program to do something on its own without a human pressing a button the entire time. >> they talked about how amazon can predict shows you might want to buy, but how do you actually anticipate, how do the programs anticipate behavior? can you think of other areas that these algoritms would be used next. >> by drawing on your past behavior they require a tremendous amount of data they process, in order to determine what you might want next so if you typically go for a romantic comedies, it's going to suggest a romantic comedy next based on your behavior but there's all sorts of ways these type of predictive algorithms creeped in our lives

the more data you feed it, the more refined the results will come. >> apple has siri and alexa and google has the home. all of them respond to your voice. you can ask them questions but they are listening to you all the time too who's hearing you and what could happen with that >> well, they only start listening when you say a wake word when you say alexa, for google home example, okay google. once you say the wake word then it is listening and sending that information back to servers at the company. they are supposed to be holding it securely and they say they are. the thing is, there are peoples whose name is alexa, right it could inadvertently collect information then of course, there is a possibility that once this information is collected it could be subpoenaed. >> you think this is a real threat can computers get too smart and get ahead of the program or are we a long way from rise of the machines >> people kind of talk about how

artificial intelligence will get too smart and take over the world but the truth is it's pretty already is everywhere and it's not it -- i wouldn't see it as a threat necessarily, but artificial intelligence programs do know more than you or i do often, particularly when it comes to specific areas. >> but it does start to raise the question, is there any job or any industry that is safe from job losses? i know these are seen as tools in some places but aren't they going to take over some people's jobs >> yes, they already have. think of a travel agent, we don't use travel agents any more because we use software that can find cheap flights for us. but there are some things that software will never be able to do things that require tremendous amount of human empathy like caring for the elderly, not just helping them pick up things, we might get robots able to fetch a glass of water one day but when it comes to teaching

kids, of course we have software and computer programs to help kids learn, but that requires a certain level of human empathy that computers won't be able to replace. >> thank you for your time today. >> thank you so much >> now here's a look at what's making news as we head into a new week on the money. america's economy created more jobs than expected 220,000 new workers added in june, well above expectations. the unemployment rate, which is conducted in a separate survey, inched up to 4.4%, that is still very low by historical standards, all of that news sent markets higher in early trading on friday after a very choppy holiday shortened week the markets closed higher on friday the rate of growth in the service sector of the u.s. economy is accelerating and the institute for supply management measures the strength of that sector june had a reading of 56.9, which is ahead of expectations and anything above a 50 reading

shows expansion. qvc has gone on a shopping spree, liberty interactive which owns qvc is buying all of the rival, the home shopping network for $2 billion both channels will remain as individual brands but you'll see cross promotion on each. if you're shopping for a new job, there's one field that won't get lost in translation, there is a big need for interpreters as the world is increasingly globalized. the job is fast paced and challenging and as kate rogers reports, the united nations is one of the places where the skills can be put to work. >> several years ago, she was working as a translator in a peace keeping mission in lebanon. today putting her language skills to use at the united nations, translating documents from english and french into her native arabic. also working on her spanish taking classes twice a week. >> since he was in school, i was fascinated with foreign languages and culture. it was in high school when i decided that i wanted to do this. >> positions at the u.n. are highly coveted and translators

work on tight deadlines, talent is selected via a language competitive exam. >> united nations is an organization dealing with sensitive issues and the member states demand it from the translators and we cannot afford a second quality. >> but the payoff is getting to be a part of something greater than just one's own career. >> the best part of the job is the month multicultural environ, we come from different backgrounds and genders and age group, and this is on an interpersonal level. >> each year thousands of people apply to take the language exam at the u.n. to become translators and editors and ver baiti is am reporters, salaries can range up into the six figure range depending on your role there are a ton of opportunities for advancement because each year their workload gets greater and greater.

back over to you. >> thank you so much kate rogers. >> up next, we're "on the money. if you own a house, you might be leaving money on the table what more than 5 million people aren't doing when you switch jobs, the one thing you should not leave behind, let's look how the stock market ended the week.

low mortgage rates and rising home values are a perfect combination for homeowners but millions aren't biting diana explains why. >> reporter: matthew buler had plenty of equity in his boca raton home but didn't decide to refinance until he absolutely had to. >> we were looking at new and

resale construction and the pricing that we were running into just didn't financially make sense for our family. >> reporter: home prices were so high he decided to stay in his current home and refinance taking cash out for renovations. >> i think interest rates are going to go up and that's part of the reason why my wife and i decided to go ahead and move forward with it. >> close to 4.5 million borrowers nationwide are eligible and have financial incentive to refinance their current mortgages, that according to a new report by black knight financial services which factored in closing cost, 1.6 million borrowers from a few months ago at today's rate, the average borrower could save $260 per month and nearly 700,000 borrowers could save $400 or more per month why don't they refi? >> i think there's a little bit of a cloud when it comes to mortgage financing in other words, a lot of people think the process is very

difficult when in fact it doesn't necessarily have to be that difficult. >> most lenders have stream lined the process online and some will give approval in just a few days. >> we all know that property values have increased which can give them the opportunity to perhaps have mortgage insurance removed from their loan, which in turn can save them a lot of money. >> refinancing is not for everyone, especially if you're closer to the end of your loan term you could lower the monthly payment but resetting the length of the loan again would cost you more in the end. >> how quickly do mortgage rates usually move >> well, they are not like stocks, you won't see a huge jump up in one day and huge fall the next day they do move week to week. they moved higher in this past week so you need to watch the rates week to week, talk to your lender and see what the trend is, not necessarily what the daily rate is. diana, thank you very much >> up next, we're "on the

money. you found the perfect new job but does it have the perfect retirement plan? what you should do with what you saved in your old 401(k). >> one man's unique journey, marine, monk and now a money man.

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hey you've gotta see this. cno.n. alright, see you down there. mmm, fine. okay, what do we got? okay, watch this. do the thing we talked about. what do we say? it's going to be great. watch. remember what we were just saying? go irish! see that? yes! i'm gonna just go back to doing what i was doing. find your awesome with the xfinity x1 voice remote. ncht jobs market in the united states is pretty strong these days, that means people are looking for something bigger and better if you find something new, there may be one thing you haven't

thought about yet, what to do with your 401(k), the right decision now could mean a lot of money later on joining us istim spees of wealth planning. thanks for being here. >> thank you, becky. >> when you start a new job, should you take the old 401(k) with you or leave it there >> generally speaking, you want to make your life not complicated to rolling over former k plan to a new employer plan could be the way to go. you want to have a number of considerations or investment options in the new plan as good or better than the former. you want to look at fees and want to consider if the new plan would have investing education, financial planning education or tools. all of those things are very important to consider. >> i had another job a long time ago, left my 401(k) there, is it too late to do something now >> you can roll it over, right. >> which would make a lot of sense, combine the money and get lower fees >> you're a great example, having to track two 401(k)

plans. >> if i'm looking at nigmy new e and not as good, what options do i have >> you want to see if you can add on by making what many of your audience numbers know as ira, roth iras, personal savings, it may allow after tax contributions which you don't get a tax defehral for that but put more money in. the earnings grow without tax being paid on it so that's just another idea to make what you might think is maybe not as effective a present plan, make it more powerful for you. >> what should i be considering when i decide what to do with my 401(k) a lot of choices and you think i don't know what this means. >> the first place we usually suggest someone starts is how much are they trying to save over a hypothetical career most people now are working to age 65

someone might want to retire early. this is why it's very important if a 401(k) plan offers modeling tools, you go on the site and put in your name and age and current earnings and start to model. >> if i want to get to a million dollars, here's what i have to save every month. >> that's where you start. >> thank you so much for being here. >> thank you for having us >> up next, a look at the news for the week ahead and think back, you may know some people went through hippie phases and maybe a few others became marines, but how about any who became monks we'll meet the man who did all three and find out what he's doing now.

here are the stories coming up this may impact your money. amazon kicks off the third annual prime day with 30 hours of online bargains for prime members. tuesday, we'll see how optimistic small business owners are when the national federation of independent business releases its monthly survey it's baseball's halfway point, the all-star game will be in miami. wednesday will get the feds beige book on friday we'll get retail sales for june and president trump will be in paris meeting with the new french president on bass teal day doug is very well traveled he's been a happy, a marine and monk and now something completely weird, a financial adviser he joins us from santa fe, new

mexico, to share his journey thanks for being here. >> thanks, becky, thanks for having me. >> walk us through your trip how did you go from being a monk to working in finance, that is a bit of a stretch >> it is a bit of a stretch. what i found i wasn't good at giving spiritual advice. i was the junior monk in the community and i still had and have a long way to go on my own spiritual adventures but i realize most people coming to the monastery with deeply disturbing emotional problems, if you dig behind them and sort of get to know people well, there's typically a critical financial issue lurking somewhere in the background. and i realize that that was what i was really good at helping people with, unexpectedly the problems fell into my lap and in the process i found my real calling, which is trying to make people financial lives a little better and help prevent the suffering from poor financial

decisions. >> how did you figure out you were good at finance >> that goes back to a painful story when you're community faced really difficult financial struggles and ultimately had to go through a bankruptcy, which was very, very painful at the time of course was the gut wrenching and horrific and suffering that inflicted on me and people around me was quite catastrophic from a financial perspective, but looking back almost 20 years in the past, it was maybe the best thing that happened to me, so the kick in the teeth i needed to get my act together and take responsibility for my own finances and actually learn what some of the emotional struggles and roadblocks are that people have that prevent them from making good decisions and staying on top of finances. >> which are what? >> when i'm working with clients, probably 20 to 30% of my time is really working with numbers and the rest of the time is helping them with their emotions and they are sort of -- sort of preconceptions about money, sort of different values

they may have around money and other things may be getting in the way. >> don't sell in times of a panic and don't try and buy when everybody else is running into something? >> exactly that's a really key one. there's a lot of others ones just in terms of spending habits and in terms of current consumption over future consumpti consumption. >> delayed gratification. >> exactly right. >> did you have training in finance or teach this to yourself >> well, i do now. at the time when i started i did not. and i -- after having sort of dealt with the community's financial difficulties, first thing i did was went to a book store and grabbed every book on finance personal i could find and read every single one of them and had more to go and subsequently sought out significant amounts of training to be able to operate effectively in this profession but that sort of began a journey and i found myself unexpectedly

after that needing a finance and economics teacher at the school i was working and no one to do it i had to step in that role in a very short notice and found i loved it. >> how do you find your clients these days who are they >> well, my primary target market is teacher and teacher communities around the country what i found out the hard way was that teacher retirement plans are really very poorly designed there's been a lot of sort of complacency in the industry and particularly in schools have forgottentheir fiduciary -- we opened up a retirement account, maybe the first time she had even looked at it and only $16,000 there. i was shocked. how did someone teach for over three decades and have nothing saved for retirement

obviously there's personal responsibility here but my question was a little more fundamental, what was wrong with the system, with the plan design they didn't catch this and warn people, you're not on track and there's something we can do to help i really wanted to design a company that could do that and focused really on customer service. >> doug, it's a great story and i'm so glad you found your true calling. >> thank you so much >> that is the show for today. i'm becky quick, thank ug for joining us next week, jewelry that is much more than pretty wear it but it can also do something else each week keep it here, we're "on the money. have a great one and we'll see you next weekend you get used to food odors in your car. you think it...

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hey there, i'm coming to you live at the nasdaq market site when i want to speak greek, i come here, it's all greek to me. the guys are getting ready and here's what's coming up in the show xbl my fellow americans, our long national nightmare is over. >> that's what tesla investors are hoping will happen but there's something in the chart that suggests there's more pain to come. we'll break it down. plus -- gold is getting crushed. but there's another precious metal that looks even worse. we'll give you the setup and -- the