Fine day to all.
During the following two days, I attended C3, where CEO Tom Siebel delivered a concise yet insightful discourse on the transformative impact of AI on large corporations at the Transform consumer event in Florida. Prior to founding C3, Siebel’s career trajectory included a tenure at Oracle and the establishment of Siebel Systems in 2009, providing him with a unique vantage point on the evolution and future trajectory of business systems. In essence, he encapsulated the evolution in three fundamental terms:
Initially, enterprise software companies such as Oracle and Siebel empowered large corporations with data control and retrospective insights into their performance and operations.
Subsequently, leveraging this data for predictive purposes, predictive AI emerged as a valuable tool for businesses to harness knowledge effectively.
Lastly, generative AI democratizes intelligence, making it universally accessible within organizations through a user-friendly speech interface.
Siebel also acknowledged the current challenges that businesses face with conceptual AI, including erratic responses, lack of traceability, data governance issues, heightened digital risks, online exposure, and misconceptions. However, he expressed optimism that these challenges would be mitigated in the near future through the adoption of retrieval augmented generation (RAG), a methodology that integrates enterprise systems with deterministic responses and robust data and IP controls. The acronym RAG is poised to play a pivotal role in the utilization of relational AI within large corporations moving forward. (Full disclosure: C3.ai is a partner at Fortune).
Fortune is set to host a series of AI learning events in collaboration with Accenture at Fortune Brainstorm Intelligence in London on April 15 and 16. Additionally, Fortune will host a series of AI learning events for businesses in partnership with Accenture, featuring top executives from renowned companies like DeepMind, Microsoft, Palantir, Shell, Royal Philips, Maersk, as well as directors and members of AI startups including Darktrace, EleutherAI, Precognition, and more. For further details or to request an invitation, please feel free to reach out.
Further updates are detailed below.
Alan Murray
@alansmurray
[email protected]
Leading Information
A Second Call
Mellody Hobson, co-CEO of Ariel Investments, reminisces about a significant phone call with leader John W. Rogers Jr. from a room in Princeton, describing it as “the call I made from a telephone, and I believe I called collect.” Currently, she jointly leads the business with Rogers. Hobson advocates for the co-CEO structure, emphasizing the vast ground they can collectively cover. Fortune
Climate Shift Publication
The Securities and Exchange Commission unveiled a diluted weather disclosure regulation in a narrow 3-2 vote on Wednesday. While the law mandates businesses to disclose climate-related risks, it omits the contentious provision requiring firms to disclose “Scope 3 emissions” or indirect carbon emissions beyond their control. Commissioner Hester Peirce, a dissenting voice, criticized weather data as often marginally superior to “high-priced guesses.” Fortune
Device Control Empowered
Building on initiatives introduced by the Biden administration in October 2022, the United States is urging allies like Germany and South Korea to reduce China’s exposure to semiconductor technology. While Japan and the Netherlands have aligned with U.S. export controls, they are cautious about implementing stricter measures. U.S. officials are concerned about China’s advancements in cutting-edge chip production, exemplified by Huawei’s latest 5G smartphone. Bloomberg
Right After The Watercooler
Employees are being educated on evolving IVF regulations, with insights from Paige McGlauflin on how employers can offer support.
Will Daniel’s proposed solution to the “anomalie” in the American housing market could potentially slash real estate agents’ commissions by around $30 billion.
Jefferies CEO Orianna Rosa Royle advises individuals struggling with work-life balance to take charge of their decisions.
Following an attack by what Christiaan Hetzner dubbed as the “dumbest ecoterrorists on earth,” Elon Musk’s German Tesla plant incurred nearly $1 billion in damages.
Expert Insight: “We are constantly shooting our future selves in the feet” – Alicia Adamczyk suggests reframing it as “We are constantly shooting our coming selves in the foot.” The cap on H-1B visas at 85,000 could impede U.S. technological growth, particularly in areas like AI.
Will achieving net zero by 2050 be feasible? One director affirms the possibility, albeit with potential challenges that Fortune Editors might need to address.
This edition of CEO Daily was curated by Nicholas Gordon.
