Today on the Fox Business show “Mornings with Maria‚” host Maria Bartiromo interviewed CEO Thomas M. Siebel about the rise of artificial intelligence (AI)‚ cybersecurity threats‚ privacy concerns‚ the importance of protecting the smart grid‚ and AI’s impact on jobs and the workforce.

Bartiromo welcomed Siebel saying‚ “Congratulations on another billion-dollar company with” From there‚ Siebel shared his perspective on the massive proliferation of IoT devices and the tremendous opportunity and benefits of new AI applications‚ such as precision medicine to improve health outcomes. Siebel also addressed the urgent‚ critical need for industry and government to tackle the data privacy and security challenges that companies must now address due to this unprecedented access to customer data.

The market for AI and IoT applications is expected to be a quarter of a trillion dollars by 2020‚ Siebel added‚ making it one of the fastest growing software markets in the history of information technology.

When Bartiromo asked Siebel to describe AI’s impact on the job market‚ Siebel noted that‚ as with the Industrial Revolution and the first Internet wave‚ technological revolutions like AI are unstoppable. AI will cause disruption that eliminates some jobs while creating other jobs. The net job outcome is positive but requires education and retraining for those new jobs. Despite short-term turmoil‚ the overall social and economic benefits will be substantial‚ he concluded.

In August‚ Siebel appeared on “Mornings with Maria” in a segment called‚ “Companies that Miss Digital Transformation Are Gone.”