Exchange 2026 brought together many leading voices in finance and journalism to examine market trends, geopolitical risks, and key ideas. To close out the conference, former CNBC Senior Markets Correspondent Bob Pisani sat down with Kara Swisher, author, journalist, CNN contributor, andhost of “The Pivot” and “On with Kara Swisher” podcasts, to discuss the behavior of the tech industry, rise of artificial intelligence, and much, much more.
The Dangers of an Underregulated Tech Industry
Early in the conversation, Pisani asked Swisher to weigh in on the dynamic between Silicon Valley and the federal government. Swisher responded by reminiscing about a conversation she had with Bill Gates in the 1990’s about federal regulation, in which Gates claimed he did not care about what Washington was doing.
Swisher explained that at that time, the tech industry was not dealing with much, if any, regulation from the federal government. However, once tech giants finally started facing regulation, many realized how easily the federal government was to pay off. “That’s why you see more regulation on the deli on my corner than on Meta”, Swisher added.
Swisher moved on to explain why a tech sector with weak regulations can be so dangerous. With limited regulations, the tech sector can move into different areas of business and attempt to assert domination. In particular, Swisher cited music, media, and social media as previous examples of an underregulated tech industry devouring other businesses.
“You are bound by the law, but not protected by it,” noted Swisher. “They are protected by the law and not bound by it. It seems unfair to me.”
The Keys to Leading the AI Adoption Race
Later in the conversation, Pisani and Swisher pivoted towards talking about artificial intelligence. Pisani asked Swisher how she is looking at AI adoption, and how RIAs and the financial services crowd should adapt.
Swisher noted that clients are always going to want to talk to a real human being, not a chat bot. However, she advised that RIAs and financial services professionals look for ways that AI can fill the gap and expedite processes, such as developing additional services that can help clients. She noted that this is not the first time that the financial services industry and RIAs have had to adapt — previous evolutions of the internet have also provided opportunities for professionals to evolve their operations.
Swisher asserted that simply throwing AI blindly at every problem in order to save money will not be the solution. Instead, those who can more precisely locate where AI can expedite tasks and add value will lead the pack.
“It’s not that people are going to get run over by AI,” Swisher added. “People are going to get run over by the people who can use AI better, and use those tools to innovate.”
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