Nearly 70% of remote-first companies are already leaning toward new AI technologies, compared to just 53% of office-based companies, according to Upwork research. Getty Images
good morning,
Another day saw another survey of how companies think about generative AI. This is from the freelance platform Upwork. Some of the results confirm what other research (see Tuesday’s post) has shown. So in the short term, generative AI means companies are hiring more people, not fewer, and there’s a gap between CEO enthusiasm and enthusiasm. of their team.
There are a few other interesting takeaways from Upwork’s survey of 1,400 US business leaders, from senior managers to C-suite level.
– Medium-sized companies (501-5,000 employees) are adopting generative AI faster than large and small companies. 62% say they are already leveraging generative AI, compared to 41% of large companies and 56% of small companies. This likely reflects the privacy, security and accuracy risks that some large companies are concerned about, as well as the lack of qualified talent at small businesses.
—Remote-first companies are more likely to adopt AI 68% of companies with full-time remote workers say they are leaning towards this new technology, compared At the company I work for, it’s 53%.
I met Upwork CEO Hayden Brown yesterday. He said he believes generative AI “will cause a complete revolution in how work is done at every level, and not just what work is done, but more fundamentally how work is done.” … It breaks the existing model of how work should be done. She said that from March to her May, job searches using generative AI on the platform saw her 1,300% increase, and job postings also saw her 1,000% increase. Learn more about Upwork research here.
Also, yesterday I had lunch with the CEO of a 126-year-old company that, surprisingly, is still run by a member of the family that founded it. When I was a kid, in 1897 he Smucker’s Apple Butter, the first product manufactured by JM Smucker Co., was a staple of my breakfast. Today, the company’s brands include Jif, Folger, Uncrustables and Milkbone.
Mark Smucker has been CEO since 2016. I asked him how leadership has changed in the last decade. Here is his answer:
“As CEOs, we have to think about so many things that we didn’t have to think about five or ten years ago. As a consumer goods company, meeting the needs of our consumers is our number one focus, but we must care about our employees, and what they feel is important. is about social issues, we need to recognize what is important to society, but also recognize that we are a business and we are in business to be successful. is needed.”
See the news below for details.
Alan Murray
@alansmurray
alan.murray@fortune.com
top News
nvidia chip
Nvidia has warned that a reported US proposal to further restrict chip exports to China would cause “permanent opportunity loss” for the industry. The Biden administration Considering expansion Export ban on low-end processors used in AI systems.United States Already told NVIDIA Stop selling the most powerful AI chips to Chinese companies. wall street journal
sri lanka holidays
The Sri Lankan government begins a five-day holiday today as it restructures its $42 billion domestic debt. Officials said the move was necessary to meet the terms of the $3 billion IMF bailout and announced additional leave to prevent a bank run.country’s last year’s debt crisis This sparked widespread protests and led to the ouster of then-president Gotabaya Rajapakse. financial times
Electric car
U.S. auto industry lobby groups have lashed out at Mr. Biden’s proposed air pollution controls aimed at boosting EV adoption as “reasonable but unattainable.”White House wants two-thirds of passenger cars sold in the US Fully electric vehicles by 2032. The Automotive Innovation Alliance, which sells 97% of new cars in the U.S., says the rule will increase costs and reduce consumer choice. new york times
around the water cooler
According to one of New York’s largest commercial landlords, Fridays in the office are “forever dead” but Mondays are “back and forth.” by Eleanor Pringle
GLAAD CEO: When leaders see LGBTQ rights as a human issue, not a political one, it’s their victory By Fortune Editor
Crypto Venture Capital Paradigm Downplays AI Ambitions, But Some Investors And Founders Frustrated By Ann Sladers, Leo Schwartz
Wedbush’s Dan Ives Says Wall Street Is Underestimating AI Gold Rush: It’s Not a ‘Hype Cycle’ by Chloe Taylor
Satya Nadella Bet $13 Billion on OpenAI Transforming Business, But Microsoft CEO’s Favorite Use of ChatGPT Was to Explain German Philosophy and Persian Poetry By Stephen Pastis
SMEs’ ‘coronavirus armor’ is helping them weather the storm as impending recession is consistently predicted Written by Will Daniel
This issue of CEO Daily was curated by Nicholas Gordon.
