the yields have been enormous but a lot of skepticism towards the likes of bitcoin remains now internet giant google is banning ads and other related content regarding crypto currency and artificial intelligence is already playing a growing role in our lives and soon our lives may depend on it. this is a business i'm christopher coble welcome to the g. twenty say the likes of bitcoin could risk global financial stability and the people over a google apparently aren't the biggest fans of crypto currencies either the internet giant says are just going to ban the ever ties mint of assets such as big coin as well as related content including trading advice and cryptocurrency wallets the company aims to bring the new policies to force in june the move follows

a similar step by facebook earlier this year the social networking giant updated its app on the sea in january to ban financial products often associated with deceptive practices including those involving crypto currency. and other crypto currencies have been some of the hottest assets on financial markets in recent months quarter in new york how is this decision by google going down on wall street. well we've seen a lot of pressure on crypto currencies especially here on wednesday when bitcoin for example dropped by more than seven hundred dollars down about eight percent and that means that since generally the price of bitcoin has been cut more than in half well there is still a lot of highly unrelated movement when it comes to crypto currencies and therefore the decision by google to actually protect the customers there's also still

a lot of talk if some governments actually block some of the crypt or trades so that he certainly is on for the cryptocurrency is at this point i think your hands for now will come back to you in a moment. donald trump has chosen television pondered larry kudlow to take over as this chief economic adviser following last week's resignation of gary cohn a former investment banker kudlow is known as a conservative business commentator on c.n.n. we see the seventy year old is no stranger to the white house either having previously served in the administration of ronald reagan he has frequently spoken out in favor of small government and tax cuts but he says he opposes trump's trade tariffs. back to court on wall street so larry kudlow supports tax cuts but opposes restricting trade is he the ideal candidate for wall street.

you know i just walked by him he's here on wall street on a very regular basis for being a t.v. personality so there he has something in common with the u.s. president and when it comes to wall street the big question will be can larry kudlow influence the administration when it comes to the trade policy and i'm not so certain about that larry kudlow does agree with the u.s. president when it comes to the tax card when it comes to cutting regulation and yes in general he's in favor of not having tariffs but having that said when it comes comes to china larry kudlow also could have a bit of a harder position and it was interesting to see when news broke today that larry kudlow probably will get the job on thursday we did not see a lot of movement in the market actually quite the contrary all the companies that would suffer under. a trade war were among the biggest losers here in the winter

session he has scored in new york thank you now while the u.s. president's appointment of larry kudlow at the moment may provide a ray of hope for u.s. partners around the world the phrase trade war is becoming more common in discussions with world leaders and policymakers but what exactly is a trade for take a look at the world economy is based on reciprocal trade that means countries export goods to each other and import products for the local markets many countries strive to export import roughly the same amount but in reality world trade is an unbalanced affair. the usa for example export goods worth one hundred fifteen billion dollars to china while importing four times as much. but what would happen if the u.s. imposed an import tax on an individual product let's say excavators that could lead to u.s. companies buying fewer chinese excavators they might instead buy more of them

produced in the u.s. in effect tariffs like these could protect the u.s. economy tariffs have existed for almost as long as countries have been trading with each other the u. for example still levies a temper centex and u.s. costs the other way around it's only two point five percent while tariffs like size the world over the average rate of taxation has half over the last twenty years according to the world bank but now that u.s. president donald trump imposed new terrorists many worry other countries will retaliate by imposing terrorists of their own this is what people call a trade war it could impede the free flow of goods that makes up the backbone of the world economy. when your fridge is smarter than you because it realizes you're running out of milk and sends a shopping list to your phone that's what we call artificial intelligence it's quickly conquering many aspects of our lives from smart factories to smart homes and cars and with the rapid growth of the digitalisation artificial intelligence

could also soon play a major role in health care. heart surgery is precise work down to the millimeter. an operation on this vital organ costs thousands of euros and often takes several hours. providing each patient with customized treatment is the dream of teachers kuno from the heart center and by len he and his team are gathering large amounts of data that artificial intelligence will be able to use to work out treatment suggestions for future patients. who cannot. it's kind of similar to weather forecasts lots of information flows into the computer which generates a prediction and a weather simulation for the next few days here people we use simulations like that to treat individual patients. we don't have the capacity in the clinic to run a simulation on the computer for each case and this way the work is broken down for

you doesn't mean lets you on course first not often so last in. one of the heart centers partners is software company thousand shapes. the i.t. experts specialize in the research of artificial intelligence and medicine so they know the potential. individual use you want personalized treatment will be available in the future and it's already possible and they're able to sell a luxury product with artificial intelligence will help to turn this luxury product into an every day product. i talked to some of. germany's digital association but com says the process is not going fast enough to enable their research and development of ai com is asking the government to provide at least four billion euros over the next four years. hour earlier i talked

to philip lawrence of the new responsibility foundation a think tank focused on technology's impact on society and i asked him if the late stephen hawking warned that thinking machines could end the human race should really pursue artificial intelligence nevertheless. but as a matter of fact stephen hawking was one of the scientists that signed an open letter to the un in calling for a ban on the autonomous weapons that are indeed or could be powered fueled by the use of artificial intelligence so there are certain risks to this technology ok there are risks but surely there can also be improvements intelligence artificial intelligence improving our lives already well as lots of trust in the economic potential of this technology artificial intelligence is considered to be a key and enabling technology for other kinds of products and used cases so it's

thought of as a as a platform that is enabling. products or business models give us some examples. just take a look at autonomy's very codes at the improvements that we see on the road now in the u.s. these sorts of technologies wouldn't have been possible without a new algorithms powered by deep machine learning one of the key and core technologies are officially televisions now your research particularly looks at the impact of artificial artificial intelligence on the labor market so how long until the robots have risen to power. has been introduced in the manufacturing sector since the late sixty's that say so robots are already there what is potentially new is that besides manual labor now cognitive labor cognitive routine tasks. automotive all through the use of artificial intelligence so cognitive skills competence within job profiles can be automated that is

a new dimension ok and what does that mean as an impact on the labor market if you look to the future well there's still a strong risk discussion whether artificial intelligence will reduce the demand in labor or if it will enhance already existing to. profiles consider the fact that goldman sachs for instance is able to automate one hundred forty seven steps or tasks that are due to perform in before an i.p.o. so these are job profiles that already show vast amount of qualification but they are in the realm of artificial intelligence so we're we're basically talking about a change in the services industry not so much in the manual labor industry there will be certain changes in the manufacturing sector as well as machines are going to be connected to the cloud and data is fueling artificial intelligence but there will be lots of shifts and changes in the service sector which we don't see yet but these are about to come. that was full of lawrence of the new responsibility

foundation wraps up our show if you want more do follow us on social media or check out our website that's. for now thanks for watching see you back here tomorrow.

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