Why a top HR executive at PwC says that in an AI-fueled labor market ‘skills are currency'
Good morning!
In a pre-AI world, consulting firms would grapple with creatively building teams for projects. During what Kimberly Jones, PwC's managing director of talent strategy and people experience, jokingly calls 'the olden days,' employees would typically pick people they knew to join them for certain work.
But now, with the firm relying on AI to help upskill and track the skills of its hundreds of thousands of employees, workers at PwC are taking a different approach and selecting teammates based on the expertise needed for the project–whether they've worked with them before or not. This kind of collaboration is necessary, she adds, in an environment where 'skills are currency.'
'It more transparently allows people to be seen. It's not about who you know, it's what skills you have, and it truly is supporting that kind of skills-based economy.'
Jones was one of the many HR leaders I met with last week in Las Vegas at the Great Place to Work For All Summit whose companies appeared on Fortune's latest 100 Best Companies to Work For list. And unsurprisingly, everyone there wanted to talk about AI.
For instance, another leader I talked to, Fadzlun Sapandi, executive vice president of global human resources at logistics company DHL Express, said she's motivating her frontline workers to embrace the new tech by encouraging them to 'think about it in a positive way.' In other words, she wants them to spend time finding the roles and skills where their expertise could add value and focus on that.
Another executive, Penny Pennington, managing partner at wealth management firm Edward Jones Investments, shared similar sentiments onstage with my colleague Diane Brady. In her view, AI is a way to 'humanize the extraordinary by automating the ordinary.'
If you're interested in hearing more, we'll be talking all about AI and how it will affect the future of work at our inaugural Fortune Workplace Innovation Summit next month, May 19-20, 2025, in Dana Point, CA.
Join me, my colleagues, and executives from companies like OpenAI, Indeed, IBM, Salesforce, Chipotle and more for interactive masterclasses, influential networking, and engaging content.
Apply for an invitation here.
Kristin Stollerkristin.stoller@fortune.com
This story was originally featured on Fortune.com
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
42 minutes ago
- Yahoo
The Supreme Court's decision could lead to a new era of ‘reverse discrimination' lawsuits
Good morning! A Supreme Court decision yesterday on a case of workplace discrimination could have major impacts on the employment landscape and will affect HR departments across the country. In a unanimous decision, the court sided with Marlean Ames, a former Ohio state government employee who sued her employer after she was passed over for two promotions that went to gay coworkers instead. Ames argued that she was discriminated against for work opportunities because of her heterosexuality. The case first appeared in the sixth circuit court, which ruled against Ames citing the higher standard of proof for discrimination that must be met by members of majority groups, such as men, white people, or heterosexual people. That higher standard is referred to as 'background circumstances,' and plaintiffs must show additional supporting evidence that they were the victims of discrimination. But the Supreme Court's ruled that the additional burden for people from majority groups is unconstitutional, and violates Title VII of the Civil Rights Act. The decision wasn't a surprise, and had been anticipated by legal experts. But they tell Fortune that the ruling will likely lead to more reverse discrimination cases against employers in the near future. 'We should expect to see this trend continue, and see an uptick in these so-called reverse discrimination claims brought by men who are not members of historically disadvantaged groups,' Michael Steinberg, a labor and employment attorney at firm Seyfarth Shaw, tells Fortune. The case comes at a particularly fraught time when it comes to the legal landscape of the workplace in general. A combination of the Supreme Court's decision to overturn affirmative action and Trump's executive orders targeting affirmative action have made companies extra cautious about their programs and protocols around diversity initiatives. The Ames case was not centered on DEI policies, but two Supreme Court Justices, Clarence Thomas and Neil Gorsuch, specifically referenced DEI in their opinions. David Glasgow, executive director of the Meltzer Center for Diversity, Inclusion, and Belonging at New York University, says it's the first instance, since Trump took office, that justices have put their stances around DEI in writing. And he adds it could 'encourage potential plaintiffs to see shifts in the wind and then follow them right to bring future claims.' You can read more about yesterday's Supreme Court decision here. Brit This story was originally featured on
Yahoo
an hour ago
- Yahoo
This Dubious Milestone Might Be Nvidia's Biggest Red Flag to Date -- Should Investors Be Worried?
By one forecast, artificial intelligence (AI) can provide a $15.7 trillion boost to the worldwide economy come 2030. Nvidia became the world's largest publicly traded company because of its AI-graphics processing unit (GPU) dominance, exceptional pricing power, and industry-leading innovation. However, it's been 54 months (and counting) since an executive or board member at Nvidia has purchased shares of their company on the open market. 10 stocks we like better than Nvidia › For more than three decades, investors have consistently had one or more game-changing innovations or trends to capture their attention at any given time. Though stock-split euphoria played a decisive role in lifting the valuations of some of Wall Street's most-influential businesses in 2024, it's the emergence of artificial intelligence (AI) that's captivated the capital and imagination of the investing community for more than two years. In its simplest form, AI empowers software and systems with the ability to make split-second decisions without human oversight. The application of this technology is so broad-reaching that the analysts at PwC believe it'll add $15.7 trillion to the global economy by the turn of the decade. With an addressable market this large, there's room for a laundry list of companies to be long-term winners. But as things stand now, no company has been a more-direct beneficiary of the AI revolution than semiconductor titan Nvidia (NASDAQ: NVDA). While an overwhelming percentage of Wall Street analysts and everyday investors believe Nvidia stock will head higher, a newly achieved dubious milestone might spell trouble for the stock market's AI darling. But before diving into whether or not Nvidia's latest milestone is problematic for investors, it's important to lay the foundation of how Nvidia became Wall Street's most-valuable publicly traded company. Though Nvidia has always been a key provider of graphics processing units (GPU) used for gaming and cryptocurrency mining, what kicked off its more-than-$3-trillion increase in market cap is the overwhelming demand from businesses for its Hopper (H100) GPU and next-generation Blackwell GPU architecture. Its hardware has become the "brains" of AI-accelerated data centers, with Hopper and Blackwell responsible for training large language models (LLMs) and overseeing generative AI solutions. CEO Jensen Huang has set out an ambitious goal of bringing a new AI-GPU to market each year. Following the Hopper and Blackwell are Blackwell Ultra later this year, Vera Rubin in the second-half of 2026, and Vera Rubin Ultra in the latter-half of 2027. Huang's willingness to spend aggressively on innovation should cement Nvidia's hardware as the leader in data center compute ability. Furthermore, Nvidia has been a clear beneficiary of demand for AI-GPUs outpacing their supply. When demand for a good or service is greater than its supply, the price of said good or service will climb until demand tapers. In early 2024, Nvidia was commanding more than $40,000 for its Hopper chips, which is notably higher than the $10,000 to $15,000 price tag direct rival Advanced Micro Devices was assigning to its Instinct AI-accelerating chips. Nvidia's CUDA software platform has been indispensable, as well. CUDA is the toolkit developers lean on to build LLMs and maximize the compute potential of their Nvidia GPUs. Think of CUDA as the umbrella that keeps customers contained within Nvidia's ecosystem of high-margin products and services. The point being that Nvidia didn't become the largest public company by accident. It reached the top of the mountain because it's delivered amid the hottest trend since the advent of the internet. However, things may not be perfect for Nvidia, even if its stock has skyrocketed by close to 870% since the start of 2023. While I've previously pointed out a number of potential headwinds for Nvidia (I'll briefly touch on these headwinds a bit later), its latest dubious milestone might be its biggest warning to investors yet. June 3 marked exactly four-and-a-half years (54 months) since Chief Financial Officer Colette Kress filed Form 4 with the Securities and Exchange Commission (SEC) noting that her two sons had indirectly purchased 100 shares each of Nvidia stock (200 shares on a combined basis). Dec. 3, 2020 is the last time any Nvidia insider has purchased shares of their company. Over the last 54 months, 170 separate Form 4s have been filed with the SEC outlining sales from company executive and directors. On a cumulative basis over the trailing-four-year period, insiders have dumped more than $3.35 billion worth of Nvidia stock. To be completely upfront and objective, not all insider selling activity is inherently bad news. It's not uncommon for the lion's share of executive compensation at high-profile public companies to be in the form in the stock options and/or common shares (some which may vest over time). Insiders will sell a portion of their holdings or exercise stock options to cover their federal and/or state tax liability. This type of selling isn't worrisome. At the time same, there's only one reason insiders buy shares of their own company's stock: they believe it'll head higher. Arguably no individuals know more about a company than its management team and board of directors. If not one of these individuals is willing to purchase a single share of Nvidia stock over the last 54 months, why should investors feel confident that Nvidia stock is headed higher? A complete absence of insider buying, coupled with a steady stream of insider selling (especially in the summer of 2024), points to a potential top for Nvidia shares. As alluded earlier, a confluence of insider selling isn't the only headwind Wall Street's AI darling is contending with. For instance, there's a strong possibility competitive pressures have been and will continue to weigh on Nvidia's gross margin. While most investors have been focused on the production ramp of direct competitors like AMD and China-based Huawei, the bigger concern is what future demand might look like for Nvidia's hardware with many of its top customers by net sales internally developing their own AI-GPUs. These considerably less-costly and more readily available hardware solutions could minimize future opportunities for Nvidia. To add to this point, it's not yet clear if Nvidia's aggressive innovation schedule is going to help or hinder its sales. On one hand, introducing a new AI chip annually affords Nvidia a reason to charge a premium for its AI-GPUs. Conversely, it also runs the risk of rapidly depreciating the value of prior-generation chips and pushing out upgrade cycles. Nvidia hasn't been getting much help on the regulatory front, either. Beginning three years ago during the Joe Biden administration, and continuing under President Donald Trump, Nvidia has had a number of its high-powered chips restricted for export to China. The world's second-largest economy has consistently generated billions in quarterly sales for Nvidia. Last but certainly not least, historical correlations are worrisome for Nvidia. Since (and including) the advent of the internet more than three decades ago, every game-changing innovation has endured an early inning bubble-bursting event. This is a function of investors persistently overestimating the adoption rate and early stage utility of a game-changing technology or trend. Most businesses aren't anywhere close to optimizing their Ai solutions, or even generating a positive return on their AI investments. This signals that artificial intelligence is likely the next in a long line of bubbles to burst. This conglomeration of factors does suggest investors have something to worry about. Before you buy stock in Nvidia, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nvidia wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor's total average return is 789% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices and Nvidia. The Motley Fool has a disclosure policy. This Dubious Milestone Might Be Nvidia's Biggest Red Flag to Date -- Should Investors Be Worried? was originally published by The Motley Fool
Yahoo
2 hours ago
- Yahoo
How a little-known Texas city turned into the energy export gateway of the country
On New Year's Eve on the last day of 2015, the Port of Corpus Christi quietly exported the United States' first crude oil barrels in 40 years just two weeks after Congress lifted the ban that dated back to the 1973 Arab oil embargo. Less than a decade later, the sleepy Texas beachside city has expanded rapidly into America's largest energy export gateway through a network of pipelines, storage tanks, docks and, this week, the completion of a prolonged ship channel dredging and widening project that should soon allow the single port to ship out almost as much crude oil as Iraq. 'It's very similar to the real estate markets: Location, location, location,' Port of Corpus Christi CEO Kent Britton told Fortune, noting that the port's total tonnage volumes have essentially tripled in a decade. 'The growth has been just astronomical. It's truly astonishing.' The port is now shipping out more than 2.4 million barrels of oil daily—roughly 60% of the entire nation's crude exports—and almost 20% of the country's liquefied natural gas exports. Those LNG volumes are expected to almost double in a couple of years once LNG pioneer Cheniere Energy completes a series of expansions. Corpus Christi offers a series of logistical benefits for liquids that cannot be matched by the much larger Houston Ship Channel or any other ports. Corpus Christi is the closest to West Texas' landlocked Permian Basin, which began to boom along with the lifting of the export ban. Corpus is much less congested than Houston, and Corpus easily opens up to the Gulf of Mexico's deep waters, especially now that the port is dredged to 54-foot depths throughout. 'I think there's a there's a little bit of luck involved in just fortuitous timing,' Britton said. 'But there was also a concerted effort on the port's part to say, 'We're going to have the deepest ship channel on the Gulf Coast, and you should be coming here.'' The federal feasibility study to expand the port started way back in 1990 only for the funding not to start flowing until 2018—such is the pace of bureaucracy, but well timed after the lifting of the export ban—when heavy construction began for the first of four phases—all of which are now finished. Likewise, Permian Basin and overall U.S. oil and gas production spiked to the record highs of today. 'As the Permian production grew, your exports grew, and the Corpus docks grew,' said Kristy Oleszek, director of crude oil at East Daley Analytics. 'They were all growing in tandem. And not by coincidence. 'The Permian barrel is a very desirable quality to export,' she added. 'One thing Corpus really provides is direct access from the Permian to the docks.' The Permian and Corpus may be more than 450 miles apart across most of Texas connected via long-haul pipelines, but it's still a straight path without much traffic in between. The Corpus channel improvement project cost $625 million and is projected to save customers up to a combined $200 million per year by speeding up the trips of crude carriers and using fewer vessels. Smaller ships will no longer be needed as much to top off the bigger crude carriers in deeper waters because they couldn't fully load at the shallower 47-foot depths—a time-consuming and expensive extra step. 'We're moving more crude oil now than we were five years ago with fewer ships,' Britton said, with traffic now more focused on very large crude carriers (VLCCs) and Suezmax tankers. The Suezmax, which holds 1 million barrels, can now fully load at the deeper depths. Even amid weaker crude prices and the Permian maturing and its production potentially plateauing, Britton still sees Corpus' export volumes growing to as much as 3 million barrels a day in the next couple of years as more pipeline and dock expansions are completed. 'Other than the original creation of the port, this is probably the most significant project we've ever done, both from a cost perspective and from an impact on world markets,' he said. Before the port's improvement project started, there were two key and somewhat serendipitous events initiated separately by Occidental Petroleum (159 in the Fortune 500) and Cheniere (275 in the Fortune 500). Already positioned with an OxyChem petrochemicals facility by Corpus, Occidental bought the shuttered Naval Station Ingleside by the port in 2012 for just $82 million to transform it into an export terminal for its products. After the lifting of the crude export ban, Oxy focused on making its renamed Ingleside Energy Center a prime oil-exporting hub. After building it out, Oxy sold it as part of a terminals and pipelines package for $2.6 billion in 2018. Enbridge, the largest midstream pipeline and terminal company in North America, then bought it for $3 billion in 2021 and has continued to grow it ever since, including new storage tank construction ongoing now. Enbridge also is expanding its Gray Oak Pipeline to transport even more oil from the Permian to Corpus for export. The Enbridge Ingleside Energy Center is by far the largest oil-exporting terminal in the Americas, able to simultaneously load two VLCCs—the largest oil tankers that can carry 2 million barrels of oil each. And Enbridge is just one of several oil exports at the port. Likewise, Cheniere first began planning Corpus Christi LNG way back in 2003, but it was designed as a gas-import project long before the U.S. was approaching any degree of energy security following the shale oil and gas boom that took off shortly thereafter. Cheniere soon pivoted, building Corpus Christi LNG as the first large, greenfield LNG export project built in the country. Construction started in 2015 and exports commenced in 2018. 'They did such a fabulous job pivoting from that import play when the shale revolution started, and everyone realized that we were going to have excess gas to become an exporter,' Britton said of Cheniere. 'They just they just hit it right. They get a little lucky on the timing as well, but it was a lot of vision and recognition of what's going on in the market to flip that switch.' As a result, the U.S. became a net energy exporter for the first time ever in late 2019—a position that's only been strengthened ever since. Cheniere is currently completing a third phase of Corpus Christi construction by late 2025 or early 2026, and then a midsized follow-up project is planned to take Corpus Christi LNG to an export capacity of 16.5 million metric tons of LNG annually now to more than 30 million metric tons. Cheniere has the acreage for a fourth phase of expansions but has not yet made any decisions. 'LNG is really taking off,' Oleszek said. 'Crude oil kind of had its day in the sun and now it's moved over to LNG. Crude oil is still growing, but not nearly as much [as gas].' This story was originally featured on