When Nobody's in Control: AI, Cyber Risk, and the Economics of Digital Trust

So it's not much of an exaggeration to say that right now, markets are making one big concentrated bet on AI.

It's driving optimism on CapEx, productivity, disinflation, and debt sustainability.

And we could all imagine the promise, a doctor that knows your genome and catches the disease before it develops.

a world-class tutor for every child on earth, clean and abundant energy, decades

of discovery compressed into years,

growth that lifts billions out of poverty.

That's the future we're pricing, pure upside.

But the sober reality is there's also a downside.

The same intelligence that designs a cure can also design a disease, direct a drone swarm, surveil every street corner, or clone a voice in seconds, deepfake a video call from your kids, and destroy the fabric of trust in society.

I want to dwell on the dark side today with Shuman Gosamajumder.

He's been on the front lines of cyber warfare since the earliest days of Google.

He helped launch Gmail and he became Google's click fraud czar.

He built Shape Security into the cyber shield of the world's biggest banks and airlines.

And now he's running Reckon, betting that the best hope we have against cyber offense is a cyber defense that lives on your device.

Shuman, thanks very much for joining.