The has suspended for foreign breaks from trading in a crackdown on buying the currency on a discount bid news comes as discount. And one of the Resource Companies found a commodities slumped this year. Speaking to bloomberg, john mack said that the Growth Engine will drive for rahman two euros Raw Materials in the longterm. Glencore says their rating is key. Is china going to stay with slow growth . What will happen in other is ifng markets, my view you have not been to china recently, go there. It has slowed down. But longterm it is a Growth Engine. And the chairman of China Telecom has quit after being targeted in an official investigation. He stepped down on wednesday. The chief operating officer will take over until a new appointment is made. Over the weekend, the government said that he was being questioned for severe violations of discipline. That is code for corruption. Now we will leave you with a quick check of the markets. We have pretty much unchanged on the last trading day. New zealand markets are already closed. In the green category, this is the last trade of the year, finishing the session early. It has wrapped up in the year in new zealand, 13 gain this year. I will be back at the top of the next hour. From our studios in new york city, this is charlie rose. Charlie Sebastian Thurn is here conoco founder of identity, and Online Education company. He is a leader in robotics and electronics. He also taught Computer Science at stanford. Value of thehe company was at 1 billion, making it a uniform. Im pleased to have sebastian back at the table. Welcome. Who is this company for . People who want jobs. People who want to be in demand. We are try to find a separate pipeline. It can guarantee jobs. Charlie how do you do that. . . Sebastian you get a nano degree in a completely different kind of certificate. Odd thing is it is drive a driven by industry. Fact that for the this is leading as. So when they come out they will really be strong engineers. This separates you from most online courses . Sebastian there are fantastic companies out there. But we really focus on the drop aspects, drop placement. We drop them into various programs to see that they can get a guaranteed job. Charlie if they do not get a job, they get their tuition back . Sebastian yes. They can take two months, four months, whatever it takes to get a new skill. And most of the program is projects, you do things with your hands and build a portfolio. Charlie let me talk about one issue, encryption. Explain to my audience with the debate is between Silicon Valley and Law Enforcement. Is, of course,e messages that almost all messages are encrypted in a way that keeps the privacy of the message sent. There is a suspicion that law intocement has a backdoor encryption. And if they are able to read messages. It is unclear right now how much is being deciphered. Complicated. S more the fbi director says there are some companies that encrypt and there is no backdoor. And they say, this is what apple says, that it is yet to be encrypted. We cannot even get in ourselves. You want us to go in the backdoor, we cannot do that. Sebastian it is an open and important question today, how much access should the government have . There are a lot of different opinions. Sense i say, in the believe it is good for our Current System to monitor activities and when something is found, to practically prevent bad guys from doing something very bad. There are increasing strong opinions saying that that is private. Charlie that is easy to understand, but how do you work this out is my question . Sebastian i think it is partially a policy issue, part a washington issue. Charlie so they will have to make a law . Sebastian yes. But it is congress that is supposed to make the best decisions for the people. Charlie everybody sees both ends, i think. Most people understand the need for privacy and on the other hand, we live in a world in which we are worried about the spread of people who wish us ill. And we want to if we can, stop that. And i think the future will be different from the past. Sebastian it is hard to think of past examples. There is an enormous have a security threat. Every year is different from the previous year, Different Things happening. And we have only seen the top of the iceberg. For companies that have been hacked, there are other companies that do not know they have been hacked. Whothere are terrorists organize very different way from the past and the of social media to communicate in different ways. In cases like syria. And i think the type of security we need for the future is fundamentally different than what we had in the past. Charlie this is what i think i ind, that Law Enforcement paris has said that some of those terrorists, that made those attacks in paris killing all of those people, used at apps that were essentially encrypted. Sebastian yes. Aboute they have talked telegram. Sebastian that is an important question, to what extension government will have access to this. Editing back to september 11, that was a long time ago, that data was available and had not been found. If we had found it wouldve been i do not think it will be the last one. There are more coming. In a think we should open this. For me, the agencies have an important purpose. It is important for the country. Charlie i will talk about Artificial Intelligence. I did a profile or a story on 60 minutes about this. Where are we . Sebastian we are really far advanced. We have systems that can beat and outperform humans in tasks tasks,ay and tasks not monday and tasks, but complicated tasks. Charlie like what . Sebastian driving a car. Flying a plane. Pilots, if the weather is too bad, they can fly. I do not think the step toward account like that is far off. Charlie because they can italized it digitalized digitalize it . Sebastian yes. We make and model of the brain trained with massive amounts of data. We had this 20 years ago, but we do not have enough data. And now we have this amazing amount of data and amazing machines that can do networks. Charlie data on everything . Sebastian data on everything. And every time we train something outcome gets better. We have two students who i asked this spring to train a visual recognizer for skin cancer. They found about 100,000 images online they could use and they trained it to recognize skin cancer. Charlie do a cameras eyes . Sebastian you take your phone out and you look at the skin and outcomes information. Charlie they have a database of they can say the us come of this is it they can say yes, this is it. Sebastian yes. Charlie so to be tested sebastian they compare you and they can reveal it. So we ask a question, what is the best in the nation . Charlie what does he say about that . Standpoint, but does he say that this is sebastian it means we could bring dermatology expertise to anybody with a phone. It is at home. One of the main promises is you do not have to consult doctors. This is Artificial Intelligence. With this amount of data, a mission cant say much more data than a human being. It gives the ability to pass intelligence and it could surpass human intelligence. Charlie what is the timeline . Sebastian in driving, this already happened. Google had a card team for many years car team for many years. In driving, an interesting thing happens, if a human driver makes a mistake, hopefully they will not make it again. In her about the driving, when a car makes a mistake, the carlin from it car learns from it, but so all the other cars on the planet. Including all the unborn cars. That means, generically the learning speed for it to evolve out passes the ability of the human to evolve. No matter where you are in the evolution, the machines will take over. Charlie should we be frightened . Sebastian nope. We will find new things to do. Technology enhances us and gives us new focuses on life. 100 years ago, from an equipment took over from us at a time when most of us were farming. And it was fine, because we found new jobs that did not exist. Charlie when people like elon musk say it causes them great concern, the extent of the development of Artificial Intelligence and they worry about it. What are they worried about . Sebastian i think that is pessimism. For me, that is lack of information to see what will happen next. If we go back and i show you the picture of a tractor and you are a farmer and i am a farmer, we are not worried about it. I see as great excitement. Imagine the possibilities to have machines by our side. Charlie but who controls of the machines . Sebastian i is in humans will be smart enough assume humans will be smart enough to keep control. Charlie you have to build that end, dont you . Sebastian yes, you build it in with some sense. The dishwasher, if i push a button, it works. We can build machines like that. Charlie so how, what if the machine develops and ability that you cannot stop it . Is that a problem . I am try to understand why so many prominent people in Silicon Valley want to say, be careful. At the least, be careful. Sebastian i do not quite see the negative scenario where machines and take over at all. We have a long history of amazing machines that have replaced components of what we do. Like manufacturing or farming equipment. And you get to a point where we can enhance ourselves. Charlie to me, i cannot tell you what will happen because i do not know which jobs will be invented when the brains and memories are outsourced. Sebastian i think it will be a better life. Charlie is robotics and Artificial Intelligence the same thing . The capacity to create something, a machine, that can do things . Sebastian yes. Robots are physical. They cost more. They break faster. But the underlying key thing in both cases is the software. To make something smart. So the masters of the future world are software writers . Sebastian i think so. And at some point when machines become smart enough, they will write their own software. Charlie this is amazing. You are a parent. Sebastian yes i am. Old . Ie holt how sebastian eight years old. Charlie have you talked taught him to code . Sebastian yes. He just started. Charlie because i was in Silicon Valley recently and somebody was talking about sending their child to the camp to learn to code. Sebastian it is like a second language. There are beautiful sides to it. You can code and it becomes like a visual game. Instead of typing with your hands, you are moving blocks around. You are interacting. It is phenomenal. All the old stuff when i grew up, you had to do the code, wait 20 minutes. It was a task. Charlie are you teaching your child chinese . Sebastian chinese, no. I think that language will go away. Can go to Google Translate and put in a linguist and outcomes the other language. That is it good that good right now . Sebastian i think so. And we make the same progress with voice recognition. It is quite amazing, when the accuracy surpasses 99 , it is amazing. Charlie that is amazing. Sebastian better than me. I have like 95 . Charlie you can go to any place in the world. Pleasean say, you know, tell me what is at the opera tonight and the person who hears that will hear it in their language. Sebastian there is amazon echo. It is phenomenal. News. Y, read me the what is the weather tonight . And you get an answer. As i said before, you have a self driving car, it goes faster than i can learn to drive. So amazon echo learns faster than a human can. Wait another year or two and it will get better. Charlie and it is less than 100 . Sebastian 150. Rlie what the user for what do you use it for . Everything. And i love the apple watch. Charlie why do you like it . Sebastian i like to read my text messages. Read the news. Charlie and you can use it as a phone . Sebastian you can. Statistics for apple. But they have done a phenomenal job. Charlie they have already started the next generation and the next generation. It is one of those things you know, it makes sense. And they will figure out a way. Sebastian the iphone took generations to improve. Charlie in terms of what it could do. Right. Notionhad to develop the that i really need this. Sebastian echo is a very visionary company. So. Charlie is there a difference between apple today without steve jobs . Because he was sick as we know, he has been dead for four years, so the same people who surrounded him, tim cook as an example. Tim cook was his handpicked successor. It is the same company. Unless you make the case that steve jobs can never be replaced and therefore we do not have steve jobs, but everybody who helped follow his vision. Sebastian no replacement for steve jobs. [indiscernible] sebastian i have been really impressed by tim cooks ability to fuel this company. And everybody says this is an operation guy. He has no product division. I think he has proved this wrong. Charlie is that generally the feeling in Silicon Valley . Sebastian i think so. Everybody admires what he is doing. Charlie in your view, this is the smartest people in the valley. Sebastian it is a great privilege to have the few friends i mean. Page. Y friend larry it is humbling to be there and to see the intellect and product vision. But i am also very fortunate i get the chance with our company for example, we are you what we learn from these fantastic leaders in education. Charlie this is what i want to understand. You say that you have friends that have twice your iq. You are one of the smart people in the valley. And you say that larry is twice your iq . Sebastian what i really admire is, elon musk is one of them, and a few others, they can really think logically about the future any way that is not compromising tradition. There is no reason why we should not have tomorrow. Today we can go to mars. When you do the math and you ask the question, is it feasible . A lot of stuff is feasible. I believe only 1 of things have been invented yet. People do not buy it because people often have no imagination. Go back to the past, from this coffee cup, to sewage, to the cameras mothers have been invented those have been invented in the last 50 years. Forward and years take into consideration that the speed of invention is going up. We will see flying cars and other things. Charlie i know we are close on curing cancer. I have done enough conversations with people. With leading experts who believe it is within their vision. And they have based on what has been accomplished in the last several years. Therapy is one example of how they are learning. And it is going beyond in just being disease specific. It is unbelievable. Atastian we looked back medicine. Charlie and this is the middle ages medicine. Sebastian this is not just treatment, this is also detection. So, take for example like what steve jobs had, this cancer. That cancer is specific because it is nonsense automatic nonsymptomatic. And finally when a symptom appears, you have bone pain, it is too late. But if you image people every day at home, it could detect things long before they are big. We can use technology to find things that are so small. We can do that today. Charlie is it possible to develop sensors beyond a visual hearing,st like smell, and all the other senses that can look at a human and see if in fact they might have some disease they do not know about . Sebastian i mention finding skin cancer. With the camera. Camera on your phone that is one dollar a piece. For example, if i had a microphone on my cell phone and watch mice beach speech patterns, i am sure that you could find the onset of dementia or alzheimers. Your speech pattern changes when you have this. And a single snapshot doctors cannot find it because they do not know how we speak. I spent about half an hour a day on the phone with a phone can me justover time in for based on my personal speech pattern. It is something you could do tomorrow morning. Charlie this is all fascinating. Say you went from google x two udacity. What is your next stop . Sebastian everybody asks me. It has become profitable, our next step will go in the direction of ipo and worldwide. There is a lot to do in that space. I believe the single most important thing to do right now is education because it is the gift that keeps on giving. If you teach a man how to fish, they have food for the rest of their life charlie . And it is powerful in developed countries. Sebastian yes. Charlie it is the only ticket. Sebastian and we have an office in egypt. If you go there, you have little access. And we teach this in india. And you take india and china, this is about half the World Population and they have about three universities in the top 100. Charlie my question for you is sebastian we have work to do. Charlie obviously, you have done something to be proud of in learning and education, this is vital to how a Society Moves and progresses better but you talk with passion about medicine. You are obviously thinking about opportunities for someone who both understands the velocity of change in technology and has great curiosity about the human being and what opportunities that offers all of us. Sebastian i wish we could share all of that. I think this is a skill that is trained. Before Silicon Valley, i was much less creative in thinking about the future. The examples i give you do not require new technology, they are on the shelf today. There is no magic in what i say. It is saying, look there is massive World Problems that exist today and Massive Technology in just the past 10 years. But these two together and you can have a brainstorm and find what is amazing. Charlie here is my question. And i do not want you to include yourself in this. I would love to do the following. It happened at different companies, i know. I would love to be up to every month able to, every month, bring together 510 men and women and sit down with them and have them deep think about what ,t is they think we need to what bill gates would say, iq on. And meet every month and make sure that take larry, who understands the role of the corporation and his own vision of the role of the corporation. He has that deeply. Sebastian and is logical. Charlie and he understands the resources that are the. I would like to have a meeting every month and jesse. Sebastian i have the great access to have any good to larry page and we spent a lot of time on questions like this. I feel like a school