Latest news with #Memphis-based
Business Insider
a day ago
- Business
- Business Insider
The new must-have for CEOs: An AI whisperer
A year ago, Glenn Hopper was advising just a handful of company leaders on how to embed AI agents and tools like ChatGPT throughout their organizations. Today, the Memphis-based AI strategist has an extensive waitlist of C-suite executives seeking his help with those tasks and more. "This technology is moving so fast, the gap between what CEOs need to know and what they actually understand is massive," said Hopper, a former finance chief and author of the 2024 book "AI Mastery for Finance Professionals: Foundations, Techniques, and Applications." That's why so many bosses are knocking on his door, he told Business Insider. Leadership coaches and consultants have long helped CEOs navigate the pressures of the corner office. Now, executive sherpas who were early to embrace AI say they're seeing a spike in CEOs seeking guidance on everything from vetting vendors and establishing safety protocols to preparing for the next big wave of AI breakthroughs. "Everything is inbound," said Conor Grennan, chief of AI Mindset, an AI consulting and training firm he founded in 2023. "We have a list a mile long." Grennan, also chief AI architect at New York University's Stern School of Business, said company leaders often reach out after struggling to get employees to adopt AI. They see other CEOs touting AI's benefits, and so they're feeling like they're behind, he said. 'It was garbage in, garbage out' Some of the AI gurus that company leaders are tapping helm (or work at) startups that were launched in recent years to take advantage of the AI boom. Others head up new or expanded AI teams within established advisory firms. Lan Guan was named Accenture's first chief AI officer in 2023, two decades after joining the professional-services firm. She's since been counseling a growing number of company leaders on how to bring AI into their organizations. "CEOs need an AI translator to basically sift through all this noise," she said. "The amount of signals you're getting, the amount of noise, it's so distracting." Company leaders are also seeking out AI gurus in some cases to fix mistakes they made while going at it alone. Guan recalled one CEO who came to her after the person's company had to pause a multi-million dollar investment in a custom AI model because employees trained it on dozens of different versions of the same operating procedure. "When they tried to scale, their data was not clean enough," she said. "It was garbage in, garbage out." Amos Susskind, CEO and founder of the London beauty-tech startup Noli, has been tapping Guan and members of her team for AI-related guidance for the past year. Noli's roughly 20 employees have been using AI tools to do their jobs and the company's beauty-product recommendation platform is powered by AI. "I'm in touch with AI leaders in Accenture probably five times a day," said Susskind, who previously led L'Oreal's consumer-products division for the U.K. and Ireland. Shaping the AI narrative leaders use Last year, 78% of workers said their organizations had used AI in at least one function, up from 55% in 2023, according to a March survey by global management consulting firm McKinsey. Companies are planning to dig into AI even more this year. A May survey from professional-services firm PricewaterhouseCoopers found that 88% of senior executives planned to increase their AI-related budgets in the next 12 months. "AI is in line with, if not bigger than, the internet," said Dan Priest, chief AI officer of PwC, whose position was created last year. Public company CEOs mentioned "agentic AI" — AI systems capable of acting autonomously — and similar terms on 269 conference calls in the second quarter, up from 12 during the same period last year, according to AI research firm AlphaSense. Getting those AI mentions right is another reason why company leaders are leaning on AI sages. CEOs need to consider more than just how investors and analysts interpret their remarks, said Priest. Employees are listening, too, and workplace experts say heightened anxiety among personnel can dent productivity and drive up turnover. "You want to be careful," warned Priest, who helps CEOs communicate their AI strategy externally. "The second you start talking about AI efficiencies, it makes your teams very nervous." CEOs also need to make sure employees using AI are doing so safely, said Hopper, the AI strategist in Memphis. "If you try to have too prohibitive a policy or don't have a policy at all, that's when people are going to do stupid stuff with data," he said. While CEOs may not want to be involved in every AI process or initiative happening at their companies, Hopper said the more hands-on experience they get with the technology, the better equipped they'll be to make smart decisions about how their organizations can benefit from it. Michael White, chief of MashTank, a boutique management consulting firm near Philadelphia, became one of Hopper's clients last year. Though he considers himself tech-savvy, White said Hopper got him up to speed on AI faster than he could've on his own. "We now have a bot that knows a lot of what I know, but has a better memory than I do," said White. Without an AI whisperer like Hopper, he added, "I'd still be at the starting gate."
Yahoo
4 days ago
- Business
- Yahoo
City leaders offer condolences following Fred Smith's death
MEMPHIS, Tenn. — Community leaders, lawmakers and organizations are reacting after Memphis-based FedEx Founder, Fred Smith, passed away. The 80-year-old founded Federal Express in the 1970s, making it a global shipping giant. 'He was genuinely a good guy and had a big impact on Memphis, a big impact on me,' Fred Jones Jr. said. Jones, who leads the Southern Heritage Classic, said the impact Fred Smith had on Memphis will continue for generations. He said while the shipping giant helped put Memphis on the world stage, Jones remembers Smith as a humble man, citing the moment he was able to secure Smith as a guest speaker back in the early 2000s. FedEx founder Fred Smith dies, sources confirm 'We had a long conversation about what he was going to talk about, and for somebody who had that kind of influence when he came to the event – he was just a regular guy,' Jones said. Smith was a student at Yale back in the 1960s when he wrote a term paper calling for a better way to ship time-sensitive material. After serving two tours of duty in Vietnam, the Marine Corps veteran would go on to start Federal Express, which launched its operation here in the Bluff City back in 1973. 'Trade is what's made America great over the years. About 27 percent of our entire economy is related to trade, either imports or exports,' Smith said back in 2017. 'The average American family benefits to the tune of about $13,000 in lower-priced goods than would otherwise be the case.' After the news of Smith's passing, several state lawmakers took to social media to offer their condolences. Congressman Steve Cohen said in a post on X, 'Memphis has lost its most important citizen.' 'Toxic Tour' highlights efforts to clean polluted areas in North Memphis Across the aisle, Senator Marsha Blackburn said in part, 'As the founder of FedEx, his leadership and innovation transformed global commerce, and he will be remembered for his relentless drive, patriotism, and commitment to service. His legacy will endure not only through the company he built but through the countless lives he touched.' Outside of giving back, Smith has had an influence in other organizations like the Memphis Zoo, which said Smith helped with expanding exhibits and 'championed animal care, education and community connection.' The University of Memphis also reacted, praising Smith for his work in higher education. Its statement reads in part, 'Through the learning inspired by [the] FedEx [life] program, Fred Smith gave his employees the opportunity to acquire college degrees at the UofM.' Fred Jones said that Smith's story is a great inspiration for younger generations. 'My advice to young people is that you have these ideas, but you stay with it,' Jones said. 'Work with it because you never know the impact it's going to have.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
4 days ago
- Yahoo
School board member talks about moving cocaine, weed, cash in Fred Smith tribute post
MEMPHIS, Tenn. — A Memphis Shelby County Schools board member says a Facebook post she made after Fred Smith's death about moving drugs through FedEx was misinterpreted. In the Facebook post she has since deleted, Towanna Murphy said she worked for FedEx — the Memphis-based shipping company founded by Smith — for eight months. 'REST WELL MR. SMITH, THEY Trusted ME ENOUGH TO MOVE COCAINE AND WEED and cash off the trucks. THANK YOU!' the original post stated. In a second post, Murphy said, 'I made a post earlier that was misinterpreted. I thoroughly enjoyed my time at FedEx. I was grateful to work collaboratively with diligent individuals 10 years ago. Fred Smith was a good person! Thank you!' Memphis airport to be renamed in honor of Fred Smith Murphy told WREG she was trying to say in the original post that she had worked in an area where items were shipped to pharmaceutical companies. 'I just worded it wrong,' she said. She then said her response was 'off the record' and stated that if we wanted a statement, we should contact MSCS attorney Justin Bailey. WREG has reached out to Bailey, to the school district, and to other school board members. We are waiting for a response. In April, Murphy issued an apology a day after she threatened to deport a woman she exchanged words with in a private message on Facebook. School board member apologizes for deportation threat The messages were later made public and posted on the social media site. In a statement released by a public relations group regarding that post, Murphy said: I want to apologize to the community and my board colleagues for my interaction in a social media direct message with a member of our community. While I found the initial message from the individual to be disrespectful and upsetting, my response did not represent the professionalism and respect that I know should be a standard in my service as an MSCS Board Member. It certainly was not a reflection of my true feelings or intentions toward the Latino community. MSCS Board Chair Joyce Dorse Coleman also released a statement admonishing Murphy. Community leaders, lawmakers, and organizations offered their condolences after Smith passed away over the weekend at the age of 80. City leaders offer condolences following Fred Smith's death Smith was born in Marks, Mississippi, in 1944 and earned his degree from Yale in 1966. After four years of service in the United States Marine Corps, Smith launched FedEx operations in 1973 and turned it into a global shipping giant. FedEx is headquartered in Memphis. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CNBC
5 days ago
- Business
- CNBC
Stocks making the biggest moves premarket: FedEx, Coinbase, Yum Brands and more
Check out the companies making headlines before the bell. Rubrik — Shares of the data management software vendor rose 1% after it agreed to buy startup Predibase , a company that helps deploy artificial intelligence models. A person familiar with the transaction said Rubrik intends to pay as much as $500 million as part of the deal, CNBC reported. BlackBerry — The cybersecurity stock popped 7% after first-quarter revenue and profit topped analyst estimates. BlackBerry also raised its full-year guidance for revenue and adjusted earnings before interest, taxes, depreciation, and amortization. Coinbase — Shares rose about 3% on the back of Bernstein's bullish investment opinion. Analyst Gautam Chhugani kept an outperform rating on Coinbase but lifted his price target by 65%, or $200, highlighting that Coinbase dominates the U.S. crypto trading market and has continued to defy analysts' bearish arguments. Yum Brands — Shares of the KFC, Taco Bell and Pizza Hut parent rose more than 1% after JPMorgan upgraded the chain to overweight from neutral. The bank said that strong free cash flow generation, among other catalysts, could send shares higher. FedEx — The Memphis-based shipper dropped 5% after earnings guidance for the current quarter came in weaker than expected. FedEx forecast adjusted earnings per share of $3.40 to $4.00, while analysts had penciled in $4.05, according to FactSet. Results for the fiscal fourth quarter just ended beat expectations. QuantumScape — Shares soared more than 35% after the startup, which develops solid-state lithium-metal battery technology, announced the integration of its advanced Cobra separator process into baseline cell production. Cobra is designed to enable faster and more energy-efficient production, QuantumScape said in a press release . — CNBC's Jesse Pound, Sean Conlon and Michelle Fox contributed reporting.
New Straits Times
6 days ago
- Business
- New Straits Times
FedEx shares sink 5pct after profit outlook highlights tariff challenge
LOS ANGELES: FedEx on Tuesday signalled caution for the year ahead and forecast current-quarter profit short of market expectations amid volatile global demand, sending shares of the delivery giant down more than five per cent after hours. FedEx and rival United Parcel Service are considered economic bellwethers because they work with virtually every type of company around the world and spot business trends early. US President Donald Trump's whiplash tariffs on China and pending deals with many other trading partners have forced many executives to put business plans and forecasts on hold until they have more certainty on product costs. "The global demand environment remains volatile," FedEx CEO Raj Subramaniam said on an earnings webcast. FedEx declined to issue full-year earnings and revenue forecasts, citing uncertainty over US trade policies, particularly with regard to China – the world's largest exporter. FedEx is more exposed to China trade than rival UPS, whose shares were down less than one per cent. Washington slapped 145 per cent tariffs on China in April, freezing trade between the superpowers, before lowering them to 30 per cent in May. Company executives said they expect Trump's tariff policies to continue pressuring the China-to-US trade air transit. The biggest hit is from the Trump administration ending duty-free status for direct-to-consumer shipments from China-linked bargain sellers like Temu and Shein, FedEx Chief Customer Officer Brie Carere said. As a result, the Memphis-based company forecast fiscal first-quarter adjusted profit of US$3.40 to US$4.00 per share. That was below analysts' estimates of US$4.06 per share, according to data compiled by LSEG. The outlook overshadowed better-than-expected results for the fiscal fourth quarter that ended May 31, when the firm said cost cuts and improved export volumes pushed operating margins higher. Adjusted profit in the May-ending quarter was US$1.46 billion, or US$6.07 per share, up from adjusted profit of US$1.34 billion, or US$5.41 per share, a year earlier. Revenue rose to US$22.20 billion from US$22.10 billion. Analysts, on average, expected earnings of US$5.81 per share on revenue of US$21.80 billion, according to LSEG. FedEx and UPS have been locked in a long battle for market share, with demand from manufacturers and other industrial customers stalled. Delivery profits have been squeezed as many customers downshifted from fast, pricey air services to slower, lower-cost ground shipments moved by trucks and trains. Both FedEx and UPS used air volume from Temu, Shein and other retailers that shipped direct from factories in China to help replace lost business-to-business volume, but that ceased this spring. After a botched attempt early this year, Trump's administration in May ended duty-free treatment for direct-to-consumer shipments valued at less than US$800 from China – stopping millions of air parcels from flooding into the United States. FedEx said separately it planned to spin off its trucking business in June 2026.
