What implications do consumer business and confidence have on the future of economic growth? How does fear of the unknown come into play with tariffs taking effect, and how will that play into the Federal Reserve’s stance on interest rates?

Richard Wobbekind is the Associate Dean for Business and Government Relations at Leeds School of Business, and Brian Lewandowski is the Executive Director of the Business Research Division at Leeds School of Business.

In this episode, Maria talks with Richard and Brian about the current state of the economy. Despite the cooling of Colorado's economy after years of robust growth, there are reasons for cautious optimism. They discuss the impacts of national policy changes, tariffs, and inflation on both the U.S. and Colorado locally. Colorado has seen slower growth in key economic metrics and migration rates, impacting sectors like housing and job market dynamics. Nevertheless, resilience in job growth, positive wage trends, and new business formations show bright spots.

This conversation was recorded on June 12, 2025 and does not reflect any economic news or developments since that date.

Leeds Business Insights Podcast is a production of Leeds School of Business and is produced by University FM.

EPISODE QUOTES:

On Colorado’s current economic conditions predictions

28:18: [Richard Wobbekind] We're not in a recession, and we don't think we're going into a recession. We do think a slow growth environment is very likely, but it's a growth environment.

When expectations shape the economy

16:41: [Brian Lewandowski]  I think I am cautiously optimistic. I don't think things are all rosy. I think there's many risks that we're keeping an eye on in the economy right now. And personally, I think there are more risks to the downside right now, especially when we think about Colorado. We have some unique exposures to some of the changes happening right now. We may not be as exposed to the tariffs, but I think we are perhaps more exposed in Colorado to the federal restructuring. We have a high concentration of federal labs in Colorado. We have federal space and defense institutions and Colorado that are perhaps at risk. And then our universities receive a lot of federal funding for early-stage research that is also at risk right now. So, I think there certainly are downside risks that we need to be keenly aware of.

Why do tariffs matter?

07:19: [Richard Wobbekind] When we think about them from, sort of, broad macro policy, tariffs impact the supply side of the economy. They raise the cost of production in the economy. And supply-side inflationary types of issues that tariffs would fall into are very difficult to address with policy.

Looking at Colorado’s slower population growth as a general concern

06:17: [Brian Lewandowski]  Colorado is a state that, for most of its statehood, has had positive net in migration, meaning that more people are moving to the state than moving away from the state. It's rare for Colorado to have net out migration, but for the past few years, we've had very slow migration to the state.

And that's important. And it's a concern because many of those people who are coming to Colorado from other states or even other countries are already trained…[06:56] So, it ended up filling the vacant jobs that we had in the state and fueling a lot of the growth that we've had in Colorado. So, we look at Colorado's slower population growth and slower net migration as a general concern.

SHOW LINKS:

• Richard Wobbekind | LinkedIn
• Richard Wobbekind Leeds School of Business Profile
• Brian Lewandowski | LinkedIn
• Brian Lweandowski | Leeds School of Business Profile
• Colorado’s economic forecast for 2025

AI is everywhere, sparking both excitement and anxiety, especially in education. But what if we shifted our perspective from fear to partnership?

Jeremiah Contreras is an assistant teaching professor and the Kala and Shiv Khatri Endowed Faculty Scholar at the Leeds School of Business. Jeremiah is also at the forefront of incorporating the newest AI technologies into business school education across various disciplines.

In this episode, Jeremiah shares his journey into AI, his early experiences with OpenAI's GPT, and using AI in the classroom. Jeremiah and Mariah also discuss the Leeds AI initiative and how AI is being integrated into core business courses to prepare students for the future job market. As a daily user of AI technologies for several years, Jeremiah has developed tactics and techniques for using AI openly and transparently with his students to foster trust in it as a powerful tool to help efficiency when used correctly. The conversation also touches on the Colorado AI Act, the future of AI in various industries, and Jeremiah’s advice for newcomers exploring AI technology.

Leeds Business Insights Podcast is a production of Leeds School of Business and is produced by University FM.

EPISODE QUOTES:

Why AI literacy is essential for success

[04:18] AI isn't necessarily just a topic. It's really embedded in everything we do, and it's becoming more and more so. And so, what we decided to do is we have 15 core business classes, and so we made sure that we're adding AI into every single core class that all of our freshmen and sophomores take.

What does it mean to use AI effectively?

[06:11] I would say that it's treating it as a partner, more than a doer. And so, it's a collaborative effort. There's a saying that AI could be reversed and you could call it IA or “intelligence augmented.” And so, when we use it to augment our intelligence, not replace our intelligence, I think that's when it's the best partner.

On preparing students to lead with technology

[16:18] Education oftentimes is a bit lagging. When it comes to incorporating technology. I think we really have an opportunity to help become part of the leadership, as far as predicting and foreseeing what can happen and almost being an incubator space to test some of these business ideas and help students grow these skills so that, when they enter the workforce, they're able to help these companies grow.

How AI boosts productivity in business

[14:39] What this new AI era is doing is businesses are having to really rethink, where can I use it? I think one obvious place is increasing productivity. So, when it's used as a thought partner for people or to create PowerPoint slides as an example, when it's used to make you more efficient, you still own as an individual, as a worker, as an employee, I would still own the judgment. I would still own the product and the output, but I have an assistant or I have a partner who can help me become that much more efficient.

So, in that case, it's definitely changing how people do their jobs.

SHOW LINKS:

• Learn AI Fundamentals with Google AI Essential | Google Course
• MCP vs API: Simplifying AI Agent Integration with External Data | YouTube Video
• AI Explained - YouTube Channel
• Jeremiah Contreras | LinkedIn
• Jeremiah Contreras | Leeds School of Business Profile

2025 has been designated the International Year of Quantum by UNESCO, marking 100 years since the creation of quantum mechanics. In that century, the ideas have moved from laboratories and lecture halls to everyday products and a wide general understanding of some principles. How can businesses position themselves to take advantage of the opportunities quantum will create going forward?

Scott Sternberg is the executive director of the University of Colorado Boulder CUbit Quantum Initiative. Scott has an extensive background in leadership and business development, and has a strong commitment to encouraging the long-term sustainable growth of the initiative and Colorado’s quantum economy as a whole.

In this episode, Scott explains the basic principles of quantum science and its evolution over the past century. He highlights how recent advancements have led to practical applications like quantum computers and sensing technologies that promise to revolutionize various industries. With a focus on Colorado's leading role in quantum research and economic development, Scott and Maria talk about the goals and strategies of the CUbit Quantum Initiative. He also emphasizes the importance of interdisciplinary collaboration, student engagement, and community awareness to foster growth in the quantum economy.

Leeds Business Insights Podcast is a production of Leeds School of Business and is produced by University FM.

EPISODE QUOTES:

Quantum, explained simply

[01:05] So the word quantum actually relates to the physics or the mathematics that occurs at the very, very small scale—that is to say, at the scale of atoms or even at some atomic levels. And when you start to observe what is happening in terms of the interaction between light and atoms, or atoms with other atoms, you start to see a very different behavior than what we experience in what we call the macroscopic world. So, as we throw a ball and it follows an arc and someone catches it on the other end, we're very in tune with exactly the physics that dominates that trajectory. But when you go into the atomic level and the subatomic level, things behave much, much differently. So, about a hundred years ago, this observation of this new world was starting to come into view, and there was a whole new mathematics around what we call quantum mechanics that was created.

Quantum’s around us

[05:46] Quantum's around us; you may not realize it, but it's this recent awareness that the impacts to society from quantum computing have really brought this to the forefront for conversation.

Why Colorado needs to be at the center of this innovation hub

[09:18] We have been recognized by the Economic Development Administration through a technology and innovation hub grant that was submitted by an organization called Elevate Quantum as the tech hub for quantum science in the nation. And so, it's this long history that we have—investing in fundamental science, growing into engineering, growing into the interdisciplinary spaces in the other colleges and departments—that has spawned these companies to come out that have kind of taken traction here in the region. And that was, quite frankly, the core of our argument as to why Colorado needs to be at the center of this technology and innovation hub.

SHOW LINKS:

• Scott Sternberg | LinkedIn
• Scott Sternberg | CU Boulder Profile
• CUbit Quantum Initiative
• CUbit Update | Newsletter