s·CEO DailyLogi CEO Hanneke Faber says she would consider adding an AI agent to her board of directorsBy Lee CliffordBy Lee CliffordExecutive EditorLee CliffordExecutive EditorLee Clifford is an Executive Editor at Fortune.
Primarily she works with the Enterprise reporting team, which covers , Leadership, and Finance as well as daily news and analysis from Fortune’s most experienced writers.SEE FULL BIO Hanneke Faber, CEO of LogiStuart Isett/FortuneIn today’s CEO Daily: Lee Clifford on adding an AI and corporate governance.
The big story: Trump’s crypto empire has earned him $1 billion-plus so far. The : Mostly up. Plus: All the news and watercooler chat from Fortune. Good morning.
Would you add an AI to your company’s board? Yes, the idea sounds crazy.
Then again, what would you think a board member with perfect recall, exemplary computation skills, and the ability to dig into data and ask hard questions? Starts to sound not so crazy after all.
And at least one CEO who spoke at the Fortune Most Powerful Women summit, which wrapped up in D.C. yesterday, says she’s open to it.
Hanneke Faber, CEO of global manufacturing company Logi, says she’d entertain the idea of an AI joining her board, as my colleague Sydney Lake reported.
“We already use [AI agents] in almost every meeting,” Faber told the audience.
She said that while AI agents (in her case Microsoft Copilot as well as internal bots), are currently summarizing and notetaking and idea generating, things are gressing fast.
“As they evolve—and some of the best agents or assistants that we’ve built actually do things themselves—that comes with a whole bunch of governance things,” Faber said.
“You have to keep in mind and make sure you really want that bot to take action.
But if you don’t have an AI agent in every meeting, you’re missing out on some of the ductivity.” Reshema Kemps-Polanco, executive vice president and chief commercial officer at global pharmaceutical company Novartis, also said she’s been training an AI bot to help run a “very rigorous commercial launch.” The bot is being trained to assess the team’s launch plan, and is getting “smarter and smarter” asking strategic questions, she said.
“It’s trained to look for gaps in the plan,” said Kemps-Polanco during a session titled “Dissecting the Global Economy,” which was presented by Novartis.
Of course, the idea of having an AI board member opens up a host of thorny ethical issues. What would happen if the AI a strategy that goes south? Or relies on biased data to make a decision?
However, given that the average director of an S&P 500 company made $336,352 in total compensation last year according to Spencer Stuart, adding a bot to a board may be a better deal than you think.—Lee Clifford CEO Daily via Diane Brady at diane.brady@fortune.comTop newsTrump’s crypto empire has earned him $1 billion-plus so farThe president has earned $550 million from the WLFI token and $362 million from the $TRUMP coin, among other crypto ventures, according to the FT.
His stake in Trump Media & nology Group, which has a bitcoin-treasury, is now worth $1.9 billion.“Of course there’s a bubble,” says AI VC, “bubbles are good.”VC funds have ploughed $161 billion this year into a handful of AI startups whose collective valuation is now around $1 trillion.
Hemant Taneja, CEO of General Catalyst, told the FT, “Bubbles are good.
Bubbles align capital and talent in a new trend, and that creates some carnage but it also creates enduring, new es that change the world.”10,000 federal workers will be fired in shutdownThe number is more than twice as big as previously disclosed.
300,000 federal jobs have been lost through attrition this year, the White House said.Morgan Stanley’s earnings blowoutMorgan Stanley smashed Wall Street expectations during its earnings call on Wednesday, posting $18.2 billion in net revenue for the quarter.
That’s an 18% year-over-year increase, thanks in part to increased dealmaking and trade activity.BlackRock-led group to acquire data infrastructure company for $40 billionThe AI Infrastructure Partnership, a group of investors led by BlackRock, agreed to acquire Aligned Data Centers for $40 billion, the companies announced on Wednesday.
The deal comes just a day after BlackRock CEO Larry Fink dispelled concerns an AI bubble on CNBC Squawk Box.Must-read file on secretive First Brands CEOThe FT unpicks how a virtually unknown leader with a string of failed es behind him was able to borrow $12 billion from Wall Street.
Separately, the WSJ explores whether Jefferies should have known that the company was unsound when it was helping the company refinance its loans.Elsewhere: Trump says he has persuaded India to stop buying Russian oil … National Economic Council director Kevin Hassett said the government would bail out farmers whose es have been ruined by the trade war after the shutdown ends … The president apved of covert CIA operations inside Venezuela but few other details are available.The S&P 500 futures were up 0.23% this morning.
The index closed up 0.4% in its last session. STOXX Europe 600 was up 0.12% in early trading. The U.K.’s FTSE 100 was down 0.12% in early trading. Japan’s Nikkei 225 was up 1.27%.
China’s CSI 300 was up 0.26%. The South Korea KOSPI was up 2.49%. India’s Nifty 50 was up 1.03% before the end of the session.
Bitcoin was down to $110.8K.Around the watercoolerMark Cuban warns that OpenAI’s new plan to allow adults-only erotica in ChatGPT could ‘backfire.
Hard’ by Eva RoytburgThe CEO behind Abercrombie & Fitch’s turnaround says the retailer isn’t chasing ‘cool’—it wants to be a ‘lifestyle’ brand instead by Phil WahbaMacKenzie Scott has cut her stake in Amazon by 42%—worth nearly $13 billion—as the billionaire casually donates over $110 million to DEI causes by Jessica CoacciReddit cofounder Alexis Ohanian says ‘so much of the internet is dead’—and the rise of bots and ‘quasi-AI, LinkedIn slop’ killed it by Sasha RogelbergCEO Daily is compiled and edited by Joey Abrams and Jim Edwards.
This is the web version of CEO Daily, a of must-read global insights from CEOs and industry leaders. to get it dered free to your inbox.