Latest news with #KPMG
Yahoo
8 hours ago
- Business
- Yahoo
Salesforce is using AI for up to 50% of its workload, and its AI product is 93% accurate, says CEO Marc Benioff
Salesforce CEO and founder Marc Benioff said the company now relies on artificial intelligence for 30% to 50% of its entire workload. Coco Gauff and Emma Grede team up to help small businesses I've become an AI vibe coding convert Tech layoffs June 2025: Microsoft, Google, Disney, ZoomInfo join the list of companies said to be shedding jobs The software giant, like many other tech companies in Silicon Valley, including Microsoft and Google, is going all in on the AI boom. 'All of us have to get our head around this idea that AI could do things, that before we were doing, and we can move on to do higher-value work,' Benioff told Bloomberg, including positions like software engineering and customer service. 'It's these agents, these digital laborers, digital employees who are out there doing this work servicing the customers, selling to the customer, marketing to the customer, partnering with me to do the analytics, the marketing, the branding.' Benioff said he even writes his yearly business plan with an AI partner, along with a 'human' Salesforce executive, adding that the company was on track to have one billion of these 'agents' before the end of the year. (Sixty-five percent of companies are now experimenting with AI agents, according to an April KPMG survey.) Benioff also estimated that Salesforce has reached 93% accuracy with the AI product it's selling to customers, including Walt Disney Co., which was developed to carry out tasks such as customer service without human supervision, according to Bloomberg. Benioff added that it's not 'realistic' to reach 100% accuracy, and that other companies are at 'much lower levels because they don't have as much data and metadata.' The software giant was ranked the No. 1 customer relationship management (CRM) software provider in 2025 for the 12th consecutive year by the global market intelligence firm IDC. Salesforce's clients include Apple, Boeing, Amazon, Walmart, and McDonald's, to name a few. According to Bloomberg, AI is ushering in a new era of 'the tiny team.' Gone are the days when Silicon Valley companies rapidly hire as they scale; now tech companies are in a race to the bottom, competing to see who can manage the lowest head count in an effort to cut costs and increase efficiencies. The AI boom comes at a time when many tech companies are slashing jobs, in part to keep up with inflation and increased economic uncertainty, spurred on by the Trump administration's tariffs and conflict with Iran. Salesforce Inc. (NYSE: CRM) was trading up less than 1% on Thursday in midday trading, at the time of this writing. In the company's latest round of earnings for the first quarter, which ended April 30, the company reported revenue of $9.8 billion, up nearly 8% year over year, beating analyst expectations, and it raised guidance 'by $400 million, to $41.3 billion, at the high end of the range.' Earnings per share (EPS) came in at $2.58, topping estimates of $2.55. Benioff said Salesforce has 'built a deeply unified enterprise AI platform—with agents, data, apps, and a metadata platform . . . with Agentforce, Data Cloud, our Customer 360 apps, Tableau, and Slack all built on one trusted, unified foundation, [so] companies of every size can build a digital labor force—boosting productivity, reducing costs, and accelerating growth.' The company had a market capitalization of $257 billion at the time of this writing. Its next earnings report is scheduled for late August. This post originally appeared at to get the Fast Company newsletter:
Fibre2Fashion
a day ago
- Business
- Fibre2Fashion
Global growth to drop to 2.7% in 2025: KPMG
The gross domestic product (GDP) internationally is poised to slow from 3.2 per cent in 2024 to 2.7 per cent in 2025 before regaining some ground to 2.8 per cent in 2026, according to the latest KPMG Global Economic Outlook. The global GDP growth is expected to slow to rates not seen since the global financial crisis of 2008-9 as geopolitical and economic uncertainty become core themes for CEOs. Meanwhile global inflation is expected to cool from 4.5 per cent in 2024 to 3.6 per cent in 2025 and hit 3.1 per cent in 2026. The latest forecasts were outlined in KPMG International's first ever Global Economic Outlook webinar, which was attended by almost 2,000 executives across the world. The broadcast was designed to analyse and break down some of the challenges and opportunities ahead in such a complex period of time for the business community. KPMG forecasts global GDP to slow to 2.7 per cent in 2025 amid rising geopolitical, policy shifts, and economic uncertainty. Business leaders cite volatility, tariffs, and trade disruptions as key concerns. KPMG urges companies to treat geopolitical risk as a strategic asset and stay agile in a shifting, multipolar and uncertain global landscape. Current market and trading volatility was reflected in Live polling which was conducted during the global broadcast. Attendees were asked what their top concern was right now for their organisation, with more than a third (34 per cent) saying macroeconomic volatility was the biggest threat, while 30 per cent described geopolitical instability as their top concern. Meanwhile, nearly half (47 per cent) said their company's growth prospects had worsened since January. Furthermore, when asked about their organisation's strategic response to tariffs, only 40 per cent said they have no significant changes planned regarding their strategy for responding to tariffs and global trade dynamics. 'In today's business landscape, KPMG's latest global economic forecasts are unlikely to catch any business leaders by surprise. Throughout my experience engaging with CEOs, I've observed that uncertainty consistently ranks as their foremost concern. Currently, executives are adopting a 'pause and prepare' strategy, delaying significant investment decisions as they brace for potential economic downturns that may hinder growth aspirations. Despite today's challenges, it is crucial for business leaders to shift their focus toward identifying opportunities and viewing geopolitical risks as strategic assets rather than obstacles. This is an opportune moment to harness these insights to navigate the intricate global economic terrain. CEOs must remain informed, agile, and ready to adapt to swiftly evolving circumstances,' Regina Mayor, global head of clients & markets, KPMG International , said. KPMG's Global Geopolitics team describes the current international scenario as a 'Critical Recession' – a transitional phase moving from a US-dominated era of globalisation toward a more multipolar world. This shift sees emerging powers, including India, Brazil, Mexico and Turkey, and economies in Southeast Asia, asserting their influence, leading to a more contested geopolitical environment. 'We now face potentially more global conflict than at any time since 1946. This historic surge in turmoil adversely affects supply chains and operations, particularly near critical trade nodes such as the Bab-El-Mandeb Strait/Suez Canal, the South China Sea, and the Panama Canal. These areas, essential for global trade, are increasingly vulnerable to disruptions owing to regional conflicts and overlapping sovereignty claims. The fragmentation of global trade, increased conflict and ongoing uncertainty over tariffs in the US is forcing business leaders to pause and adopt a 'wait and see' approach. Volatility is the new normal and companies should treat geopolitical risk as an asset, rather than a new threat. The imperative for businesses now is to develop a clear vision of how these geopolitical trends will affect their strategic objectives not only in the immediate term but over the coming years. With a deeper understanding of these geopolitical dynamics and proactive engagement in risk management, businesses can navigate the turbulent environment more adeptly, turning uncertainties into opportunities,' said Stefano Moritsch, head of global geopolitics, KPMG International . Rampant policy shifts and escalating trade tensions are driving a predictable economic slowdown across the Americas. Pervasive uncertainty functions as an economic tax, stalling business investments and decision-making as executives across both North and South America grapple with a deeply unpredictable policy environment. 'Tariffs are predicted to rise significantly, scaling from a rate of 2.8 per cent to over 20 per cent by year-end. The uncertainty drove an unprecedented surge in the US trade deficit, almost doubling previous records due to stockpiling ahead of tariffs. It points to the frantic efforts of businesses to mitigate the immediate impact of tariffs,' said Diane Swonk, Americas chief economist, KPMG International. Europe faces a modest growth outlook in the short term, as uncertainty weighs on business investment and consumer confidence, with Eurozone GDP expected to increase by around 0.9 per cent in 2025 and 1.1 per cent in 2026. 'Europe remains vulnerable to an escalation of tariffs, particularly on pharmaceuticals, which make up a large share of exports for a number of European economies. This continuing uncertainty is creating a degree of cautiousness in business planning and investments. The pivot to defence may offer an opportunity to provide greater focus on European research and development. This in turn could mean positive spillover opportunities for dual-use technologies, as well as research-intensive defence subsectors such as aerospace, cybersecurity, advanced robotics, and autonomous drones,' said Yael Selfin, European chief economist, KPMG International. 'The new US administration's trade policy changes are going to have some serious consequences for ASPAC economies. These repercussions are particularly severe due to the region's intertwined trade networks. Economies throughout the region may strategically pivot in response to these changes, whether through diversifying trade partnerships, investing in technology to enhance production efficiency, or bolstering domestic markets to mitigate impacts,' Dr Brendan Rynne, Asia-Pacific chief economist, KPMG International. Fibre2Fashion News Desk (RR)
Time of India
a day ago
- Business
- Time of India
India's energy consumption up 5.8%, coal still dominates: World Energy Review
New Delhi: Fossil fuels accounted for 81.5 per cent of total primary energy consumption globally in 2023, despite the strongest-ever increase in renewable power generation, according to the 74th edition of the Statistical Review of World Energy, released by the Energy Institute in collaboration with Kearney and KPMG. Global primary energy consumption rose by 2 per cent to a new high of 620 Exajoules (EJ) in 2023. While renewable energy (excluding hydro) grew by 13 per cent, adding 4 EJ to reach 42 EJ, it was not sufficient to offset the 1.5 per cent rise in oil demand and 0.6 per cent rise in coal consumption. Global natural gas demand remained relatively flat at 142 EJ. CO₂ emissions from energy use increased by 2 per cent year-on-year to reach a record 39.3 billion tonnes of CO₂ equivalent (GtCO₂e). Emissions from methane and flaring added another 5 GtCO₂e, bringing total energy-related emissions to 44.1 GtCO₂e. China and India together accounted for 80 per cent of the global growth in energy demand. India's energy consumption rose by 5.8 per cent, with the share of coal in primary energy at 57 per cent, followed by oil at 29 per cent. India's renewable power generation increased by 13 per cent, while fossil fuel-based generation also grew, reflecting the country's rising energy needs. "India saw a significant increase in power generation, with fossil fuels still accounting for 76 per cent of the mix. Renewable generation rose to 22 per cent, hydro stood at 8 per cent, and wind and solar together represented over 90 per cent of renewables," the report noted . Oil remained the dominant fuel globally at 31.4 per cent of total energy, followed by coal at 26.1 per cent, and natural gas at 22.5 per cent. Despite record renewable additions, fossil fuel use reached a record high in absolute terms, driven by population and economic growth in developing regions. "Renewables met 30 per cent of the growth in electricity generation, but fossil fuels still dominated total primary energy demand," the report said. Electricity demand globally rose by 2.5 per cent, and power generation hit 30,359 TWh, led by China, India, and Southeast Asia . Hydro output fell by 2 per cent globally, while nuclear generation rose by 2.8 per cent, with China contributing over 50 per cent of the net increase. Natural gas demand fell in Europe by 7 per cent and remained flat in North America, but grew in Asia Pacific and the Middle East. "Despite decarbonisation efforts, fossil fuel consumption remains high. The energy trilemma—balancing security, affordability, and sustainability—continues to shape energy decisions," the report concluded. The Energy Institute's review stressed that while the clean energy transition is underway, the pace is uneven and emissions continue to rise.
Globe and Mail
a day ago
- Business
- Globe and Mail
Seabridge Gold Reports on Results of Annual Meeting of Shareholders
Toronto, Ontario--(Newsfile Corp. - June 26, 2025) - Seabridge Gold (TSX: SEA) (NYSE: SA) (the "Company") today provided the results of its annual general meeting of shareholders held on June 25, 2025. A total of 70,526,925 common shares were represented at the meeting, representing 70.15% of the issued and outstanding common shares of the Company on the record date. All matters presented for approval at the meeting were duly authorized and approved, as follows: To Fix the Number of Directors of the Company at ten (99.14% votes for); Election of all of management's nominees to the board of directors of the Company; Director Votes For Votes Against Percentage For Trace J. Arlaud 53,457,425 611,555 98.87% Matthew Coon Come 53,425,307 643,672 98.81% Rudi P. Fronk 53,235,868 833,110 98.46% M. Colin Joudrie 53,718,167 350,813 99.35% Melanie R. Miller 53,703,236 365,744 99.32% Clem A. Pelletier 53,720,659 348,321 99.36% Julie Robertson 53,700,508 368,471 99.32% John W. Sabine 50,297,813 3,771,166 93.03% Gary A. Sugar 53,761,058 307,921 99.43% Carol T. Willson 53,413,099 655,880 98.79% Appointment of KPMG LLP as auditor of the Company for the ensuing year (98.29% votes for); Authorization of the directors to fix the auditors remuneration (98.64% votes for); Approve the adoption of a new By-law for the Corporation (63.44% votes for); Approval, on an advisory basis, of the Corporation's approach on executive compensation (93.52% votes for). A total of 16,457,945 shares were "non-votes" under U.S. proxy rules and were not cast with respect to the election of each of the directors, the approval of the adoption of the new By-Law or the advisory vote on executive compensation. Seabridge Chairman and CEO Rudi Fronk noted the departure of long-time board members Mr. Jay Layman and Mr. Eliseo Gonzalez Urien and their new roles as Board advisors. Mr. Layman worked as President and COO for over 10 years and has served as a director of Seabridge for over 13 years. During his tenure he made significant contributions to the growth and strategic direction of Seabridge. Mr. Gonzalez-Urien is an accomplished and enthusiastic geologist who has made a remarkable contribution to the evolution of Seabridge, particularly to our exploration successes, since he first became a director 19 years ago. "Seabridge has been fortunate to have had the benefit of their guidance for such a long time and, on behalf of all of our shareholders, I thank them for all they have done for us." To facilitate a smooth transition at the Board level, both have agreed to serve as advisors to the board for an additional year. At the same time, we are delighted to have Mr. Colin Joudrie join our board. Mr. Joudrie has over 35 years of experience in the mining industry in roles that will enable him to make a substantive contribution to the board's consideration of technical matters, joint venture negotiation and management of large project development, as well as property evaluation and acquisitions. Seabridge holds a 100% interest in several North American gold projects. Seabridge's assets include the KSM and Iskut projects located in northwest British Columbia, Canada's "Golden Triangle", the Courageous Lake project located in Canada's Northwest Territories, the Snowstorm project in the Getchell Gold Belt of Northern Nevada and the 3 Aces project set in the Yukon Territory. For a full breakdown of Seabridge's Mineral Reserves and Mineral Resources by category please visit the Company's website at None of the Toronto Stock Exchange, New York Stock Exchange, or their Regulation Services Providers accepts responsibility for the adequacy or accuracy of this release. ON BEHALF OF THE BOARD "Rudi Fronk" Chairman and C.E.O.
Observer
2 days ago
- Business
- Observer
Global energy CO2 emissions reached record high last year, report says
LONDON: Global carbon dioxide emissions from the energy sector hit a record high for the fourth year running last year as fossil fuel use kept rising even as renewable energy reached a record high, the Energy Institute's annual statistical review of world energy showed on Thursday. Last year was the hottest year on record, with global temperatures exceeding 1.5 C (34.7 F) above the pre-industrial era for the first time. BY THE NUMBERS The world saw a 2-per cent annual rise in total energy supply in 2024, with all sources of energy such as oil, gas, coal, nuclear, hydro and renewable energy registering increases, which last occurred in 2006, the report said. This led to carbon emissions increasing by around 1 per cent in 2024 and exceeding the record level set the previous year at 40.8 gigatonnes of carbon dioxide equivalent. Of all the global fossil fuels, natural gas saw the biggest increase in generation, growing 2.5 per cent. Meanwhile, coal grew by 1.2 per cent to remain the largest source of generation globally, while oil growth was under 1 per cent. Wind and solar energy expanded by 16 per cent in 2024, nine times faster than total energy demand, the report showed. CONTEXT Industry body the Energy Institute, which comprises energy professionals across levels, together with consultancies KPMG and Kearney, took over from BP last year to author the report. Analysts tracking progress have said the world is not on course to meet a global goal of tripling renewable energy capacity by 2030 despite record amounts being added. KEY QUOTES "Last year was another turning point for global energy, driven by rising geopolitical tensions," Romain Debarre of consultancy Kearney, one of the authors of the report, said in a release. "COP28 set out a bold vision to triple global renewables by 2030, but progress is proving uneven and despite the rapid growth we have seen globally we are still not at the pace required," said Wafa Jafri, a partner at KPMG. COP28 was the United Nations Climate Change Conference that took place in Dubai in 2023, at which countries signed a pact to transition away from fossil fuels in energy systems to achieve net-zero emissions by 2050. — Reuters
