responsible stewardship of this next era. when you bring it into the world you tell people its purpose. it's here to help me do a better job. >> announcer: ai is here to stay. but what does it mean for human jobs? microsoft could you founder bill gates talks with maria about i accept i don't conquer the mountain like i used to. i even accept i have a higher risk of stroke due to afib, a type of irregular heartbeat not caused by a heart valve problem. but whatever trail i take, i go for my best. so if there's something better than warfarin, i'll go for that too. eliquis. eliquis reduced the risk of stroke better than warfarin, plus had less major bleeding than warfarin. eliquis had both. don't stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve

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maria: artificial intelligence is being used in virtually every industry. it's change our world and arguably for the better. but what does it mean for jobs and will workers be replaced in the not too distant future with machines? microsoft's co-founder bill gates says it will help workers

in the long run. >> one place that's super exciting, when you have computers that can see, workers not wearing a helmet, is there a spill somewhere? in these high value environments, whether it's an operating room, a jail, a factory, a courthouse, you will be able to transcribe everything that's being said and see things if there are safety violations, even a construction site so you will be far more efficient using resources. you will be far more aware of what's going on. it's very cheap now because computers and see and hear as well as humans can. maria: your focus is on jobs. people are worried in terms of a.i. machine learning taking

over for humans. >> certainly we can look forward to the idea vacations will be longer at some point. if we can produce twice as much as we make today with less labor, the purpose of humanity is not just to sit behind a counter and sell things. more free type is not a terrible thing. it's not a case of shortage. the government in terms of having a safety net so people can be retrained. the rate of change will be faster in the next 20 years than it has been before. but this is a problem of excess where you can make everything. so can you redirect people to help the elderly to reduce class size, you will have the resources because you will be so much more productive. >> what are the important skills

that would be required to thrive in this new world that we are seeing any was looking at this article. you are saying there are three skills that will be needed in the future jobs market. >> of course the highest value jobs will require technical training, strong math and science skills. that's probably the greatest category of high-paying jobs. but the service areas like helping the elderly, reducing class size. there will be jobs in those more classic areas where the human skills helping people out will still be quite unique. maria: it will be i manage easier for you to raise fund for things like malaria and things you are working on with the better economy. is that what you are seeing this year? >> i wish we were seeing more.

a lot of it comes from government. the foreign aid government. we have a controversy about countries turning inward. germany has gone up a lot. the u.k. has gone up a lot. the u.s. has stayed flat which is better than some people expected. the philanthropic side is growing. but in terms of pure dollars that's not nearly the magnitude, the foreign aid budgets. but india and china, all countries are even in more philanthropy. maria: 4% growth this year across the world. the imf saying that. let me get your take on the tax cuts. do you think this was a good idea? >> every country has complicated tax code. you have to say, did it serve whatever want to do about

equity? i wouldn't say i scored super high on that. then you have to say how does it fit in terms of long-term affordability? i wasn't gigantic. we had a long business environment going into it. i don't see it as a huge plus or minus. if you look at what we are focused on. maria: when you look at taking money back from overseas, wouldn't it encourage a company like microcost to take money back? >> our money has always been accessible. the money really wasn't like sitting in some far away place. companies decide to invest based on the p & l structure. not just the pure asset

structure. but it doesn't change which project you are starting, how many engineers you are employing or anything like that. maria: i have got to get your take on the employment situation. there is debate about daca. brad smith wrote a letter to president trump and said we need to protect the dreamers. when you see what's happening machine learning and see the unemployment situation. we need immigrants to come in, isn't that right? how would you characterize the need for work today? >> we built a country on immigrants. we are are very lucky country where lots of energetic and talented people want to come to our country. exactly what the policies should be is complicated. but people were young when they came here. they spent most of of their life in america. they want to contribute.

i believe that we should all want them to stay and contribute. so i'm hopeful that the dreamers issue can be put behind. we still have a lot of immigrants where you want to clarify what they should do. if we can get the dreamers solved, we can look at immigration more broadly. >> announcer: it's thought thanks reform would only help american companies? think again. black stone's steve schwartzman says the whole world wants a says the whow do you win s a at business? stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com i'm the one clocking in when you're clocking out. sensing and automatically adjusting

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maria: there is no question american companies have been a big beneficiary of the president's economic plan. while american companies are enjoying it, international companies are also reaching the benefit, so they are investing in the u.s. >> starting in the united states, and the tax changes, the tax bill will be quite positive. first you have got lower tax rates and highly competitive for the first time in a very, very

long time. you have expensing of capital equipment, 100%. so if you have in any kind of business that needs equipment, this will be a great place to be located. you have got potential to return $2 trillion of money into the united states from abroad, just from u.s. controlled companies. and that all adds up to something pretty good. and in addition, i think what's going to happen is companies outside the united states are now recognizing that u.s. competitive posture has changed quite dramatically. we'll be seeing unanticipated foreign investment into the united states because we'll be the best developed market in the world. so all together, it's a pretty positive story. maria: are you seeing investment plans change as a result of these new policies from

investors across the world? >> yes, it's anecdotal which is how you pick things up because everybody has to make plans. but when people say when you talk about it is something really important is happening in your country. i have got to do more there. you are going to grow faster, you are deregulating. we should be doing that in our countries. and it's a very positive buzz. maria: not to be underestimated is the role of deregulation. >> absolutely. this is one you can see really easily. there was really sort of a regulatory suppression of the u.s. economy in part because of the financial cray is and its aftermath and in part because usually systems tend to overshoot.

and we probably overshot in a whole variety of areas over the previous 8 years. there was a lot of rhetoric that was very negative to the business community. and a lack of understanding with be i think, what powered an economy. this type of rollback which isn't everywhere, it's not irresponsible in toto. it's creating enormous energy and enthusiasm. and is actually an example to people around the world of how you get an economy going it was no accidents that the stock market started going up the day after the election. and not because anything was accomplished that day. it's because the theory of the case, the plan to do much more deregulation than increased

regulation as well as reduce taxes bring money back from abroad, this is actually quite sound. i think it's difficult to really be thoughtful and be against this in concept. how things work out, practically some things will work terrifically well and some won't. but in toto this is a very good strategy. maria: more from davos when we continue on "wall street week." >> announcer: it's been an historic run for stocks. how come more people aren't investing. investing. we'll talk i'm a small business, but i have big dreams, and big plans. so how can i make the efforts of 8 employees, feel like 50? how can i share new plans virtually? how can i download an e-file? virtual tours? zip-file? really big files? in seconds, not minutes. just like that. like everything. the answer is simple. i'll do what i've always done, dream more, dream faster,

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maria: i could not find many

people betting against the stock market in 2018 as the record run continues. blackrock chief executive larry fink says too many people aren't participating. how he hopes to get more people invested. >> it's my hope investors worldwide start recognizing it was bad to be in cash. we had a 3x increase in our equity markets since the financial crisis. this more money sitting on the sidelines than we have ever seen. france as you named, france has a specific problem and the president and finance minister are trying to address. 72% of french savings in a bank account. they don't invest over the long run. imagine the world economy if people were managing their savings to meet their long-term obligations, retirement. if they had money properly

placed in the duration of the assets meaning your retirement is a 40-year obligation, you invest in equities with over a long-term. in china, one of the greatest drags today, the chinese now are saving 45% of their disposable income because they are frightened for the future. one chinese -- the one-child policy impacted those rising in the middle class are preparing to help their parents as they goin retirement. in the united states the biggest phenomenon is the under savings. what's really concerning me, we have the strongest economy of we have had in 12, 14 years. we have huge wealth creation in

the equity markets. but we don't have a large, broad participation in the equity markets. so this is something that i'm very focused on. it's ironic. everything feels good. yet anger is still around, and you see sit worldwide. i believe there is just a fear of the future, whether it's from technology -- if you are a truck driver and you read about autonomous trucks, you will say what will happen to me. maria: so you want to hoard cash. >> yes. and we need to focus on financial literacy. we need more of the population understanding their needs. as we moved away from the defined benefit plans we put the responsibility on the individual. and we haven't given them the

tools to properly navigate that. and it's a big social problem. in the united states and worldwide, this one of the reasons, we believe we could use technology to help financial literacy and help people navigate the huge obligation of saving for retirement. maria: my thanks to larry fink maria: my thanks to larry fink at blackrock.

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maria: welcome back. let's take a look at the big market events coming up in the year ahead that could impact your money. personal income, consumer confidence and pending home sales. later on in the week we'll hear from the auto sector. consumer sentiment and factory orders. friday we'll get the latest on

jobs as the labor department will release the latest employment numbers. it will be the biggest numbers on earnings. all reporting their fourth quarter numbers. it will be an interesting look into the broad economic story. next week on "wall street week," join me for a special program. we'll talk about how to allocate money today. we'll preview the state of the union sun on "sunday morning futures." you can catch me week days on the fox business network on "mornings with maria." i'll be broadcasting from

washington for the state of the union tuesday and wednesday. that will do it for now from davos on "wall street week." thanks for joining us. i'll see you again next welcome to the journal editorial report. i'm paul gigot. new developments this week in the russia probe. president trump saying he's looking forward to speaking to special down sell robert mueller and is ready to do so under oath. those comments coming as the president prepared to depart for the world economic forrowm in davos and amid reports that he called for mueller's firing in june. something the president denies. the justice department's inspector general saying on thursday he recovered missing text messages exchanged over a five-month period between fbi officials peter strzok and lisa page.