Video conferencing technology is on the cusp of significant change using AI. We give examples how ML-based super-resolution can improve the video quality or reduce the bandwidth of traditional DSP-based video codecs by 50%. ML-based video codecs can more radically reduce the required bandwidth by 10X. Photorealistic avatars can even more radically reduce the required bandwidth by 100X and fix issues like eye gaze, video quality, and even improve how you look. Finally we discuss how generative video can be used to implement photorealistic avatars and meeting environments.