Business Innovation
Forget robots on assembly lines. Foundational Industries wants AI to run the entire factory | Fortune
His startup, Foundational Industries, just raised a $25 million seed round, Fortune learned exclusively, to build factories where AI runs the whole operation rather than bolting automation onto an old assembly line. The round was led by BoxGroup and...
Business Innovation
Ultra wealthy are looking to leave the U.K. thanks to tax hikes—but the CEO of $1 billion tax platform says it’s their ‘social responsibility’...
The number of British millionaires has dropped to its lowest level in nearly two decades—and high taxes under the Labour government and persistent inflation are being blamed. Last November, the nation’s business secretary admitted he was worried that billionaires,...
Business Innovation
WPP’s sweeping restructure could save £500 million—the bigger challenge might be winning over workers | Fortune
When Cindy Rose replaced Mark Read as CEO of WPP in October last year, she inherited a business in decline. The advertising company had recently issued a fresh profit warning after a sharp decline in revenues and the loss...
Business Innovation
Samsung’s North America CEO says the smartphone is just an entry point to ambient AI of the home | Fortune
Good morning. With Apple likely to launch a foldable iPhone this fall, category pioneer Samsung will this morning try to cement its lead in the premium category. To get a sense of what’s at stake, I spoke with Yoonie...
Business Innovation
FedEx’s CEO landed his first job by taking a roommate’s abandoned interview. Now he’s running a $75 billion shipping giant | Fortune
Workers may believe that they need the right connections or flashy credentials to launch their careers. But sometimes, simply saying yes—and leveraging a stroke of luck—can be the most effective way to get a foot in the door. Raj...
Business Innovation
The $124 trillion Great Wealth Transfer is more than just cash: More U.S. businesses are now being inherited than bought, BofA finds | Fortune
It’s not just the Murdochs or the Arnaults. As family-owned companies change hands, new data shows more American businesses are now being inherited than purchased—part of the broader Great Wealth Transfer marking a shift in how the next generation...
Business Innovation
Logistics company C.H. Robinson achieved a 45% productivity gain with AI agents. Here’s the secrets of its success. | Fortune
Hello and welcome to Eye on AI. In this edition:How Fortune 500 logistics firm C.H. Robinson became an AI success storyApple sues OpenAI for theft of trade secretsEconomists urge policymakers to take the threat of AI seriouslyA new method...
Business Innovation
Goldman economist offers a reality check on AI adoption: it took 15 years for computers to really show up in the data | Fortune
Are you feeling a little underwhelmed by AI’s transformation of the economy? The so-called “fifth industrial revolution” is supposed to wipe out half or even all of white-collar work and yet adoption is kind of begrudging, even optional for...
Business Innovation
‘We are driving in the fog’: Hundreds of economists admit they’re flying blind on AI | Fortune
“We are driving in the fog, and it is extraordinarily difficult to anticipate what will happen next.”That alarmed voice is coming straight from the top of the economics profession. That’s Anton Korinek, a University of Virginia economics professor and...
Business Innovation
Marketing’s new mandate: Why AI is forcing CMOs to think like ‘mini CEOs’ | Fortune
The chief marketing officer is no longer just responsible for building a brand. As artificial intelligence reshapes everything from creativity to search, CMOs are increasingly expected to drive commercial growth, lead technology adoption, and influence business strategy across the organization. “The CMO is basically a mini CEO,” says Dara Treseder, chief marketing and commercial officer...
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Crete fires: Thousands evacuated as Europe wildfires continue to rage
July is one of the busiest months for tourists in Crete, with millions visiting the island each year.Around 224...