
Trump's ‘beautiful' megabill is an existential crisis for food pantries: ‘People are going to suffer'
Republican members of Congress just passed the largest-ever cuts to the Supplemental Nutrition Assistance Program, a lifeline that keeps more than 41 million Americans, or 12 percent of the population, from going hungry. More than 13 million recipients are children.
The cuts in Donald Trump's 'One Big Beautiful Bill' will restrict eligibility for SNAP enrollment and divert a significant chunk of the program's costs to states.
Anti-hunger advocates are calling the Republican-led legislation an imminent crisis for millions of families who rely on food stamps to buy groceries they couldn't otherwise afford — and an existential threat to food banks that support the most vulnerable Americans.
The nation's already-strained network of community food banks anticipates a surge in new visitors who lose their SNAP benefits.
'There is no backup plan,' according to Laura Lester with Feeding Alabama, a state with more than 730,000 SNAP beneficiaries. 'The pantries that are already bending under the strain have no capacity left to meet such a massive increase in need.'
Food banks across the country are reporting greater demands for food assistance than what they saw even at the height of the COVID-19 pandemic. Community food pantries were already stretched thin from years of rising food costs and growing food insecurity when they started bracing for price hikes and food shortages under Trump's on-again, off-again tariff regime.
SNAP provides roughly nine meals for every one meal provided by a food pantry, according to advocates. In the measures passed by Congress, federal funding for SNAP would plummet by $186 billion through 2034, or roughly about 20 percent.
The cuts would eliminate the equivalent of 6 to 9 billion meals annually, according to Feeding America, the nation's largest hunger-relief organization, which operates more than 200 food banks and serves more than 46 million people.
By comparison, the entire Feeding America network distributed 6 billion meals in 2024, according to CEO Claire Babineaux-Fontenot.
Food banks took another hit this year after Trump's Department of Agriculture cut more than $1 billion in assistance by ending two pandemic-era programs — including more than $420 million for the Local Food Purchase Assistance Program, which helped states to buy and distribute food from farmer, and another $440 million for Local Food for Schools, a similar program for schools and child care facilities.
The administration also froze deliveries to food banks made through the agency's Commodity Credit Corporation pending a review of the program.
Food Bank for New York City lost 2.5 million meals thanks to cancelled shipments under those cuts.
Under Republican plans for SNAP, the state would be forced to shoulder $1.8 billion to keep those benefits afloat, 'an existential threat to the idea of SNAP being a safety net,' Food Bank for New York City director of public policy and advocacy Nicole Hunt told The New York Times.
More than 65 percent of New York food pantry visitors are employed, according to the Poverty Tracker from Columbia University and anti-poverty group Robin Hood. Yet average monthly visits to pantries and soup kitchens have shot up 85 percent since 2019, according to New York food rescue and assistance organization City Harvest.
Roughly 200,000 New York City residents could lose access to SNAP and another 18 million New Yorkers would likely see their benefits decrease under the bill, according to City Harvest.
Even before the cuts were introduced, 'our partner food pantries are telling us that they're having to turn away people in need of food and to decrease the number of food distributions they offer. That should not be happening in one of the most affluent cities in the world,' according to City Harvest CEO Jilly Stephens. 'Taken together, it's a perfect storm.'
States are likely to tighten budgets on other critical food assistance programs to cover SNAP costs as states are forced to come up with millions of dollars to keep the program running. Nearly half of U.S. states have already issued warnings that they are unlikely to fully fund SNAP without sacrificing major cuts in their state budgets.
In Ohio, where lawmakers recently approved the state's $60 billion operating budget, food banks requested an additional $30 million to meet increased demands and rising food costs were rejected. The budget instead accounts for roughly $24.5 million.
'Food banks can't make up the difference, philanthropy can't make up the difference — there's been too many cuts to federal grants, too many cuts to so many different things that without SNAP,' according to Second Harvest Food Bank of North Central Ohio president Julie Chase-Morefield. 'There just isn't anything else. Our real fear is that people just don't eat.'
Kentucky lawmakers would have to find $239 million in the annual budget to maintain benefits for nearly 576,000 people, according to the Kentucky Center for Economic Policy.
Celia Cole, CEO of Feeding Texas, where more than 3 million people receive SNAP assistance, said the program works precisely because it's federally funded.
'Offloading benefit costs to states would undermine SNAP's ability to respond to economic downturns and natural disasters — precisely when families need help the most, and state coffers are most depleted,' she said.
The cuts will have 'immediate and devastating consequences — more empty refrigerators, more hungry children, and more impossible choices between food, medicine, and rent,' according to David Emerson, CEO of the East Texas Food Bank.
In Chicago, which accounts for nearly one-third of all SNAP recipients in the state of Illinois, 'food insecurity and poverty will skyrocket and demand will increase on an already strained emergency food system,' according to the Greater Chicago Food Depository, which serves food banks across Chicago and Cook County.
The group estimates that as many as 340,000 Illinois residents could lose SNAP benefits, while Illinois Governor J.B. Pritzker's office estimates as many as 427,000 people in the state are vulnerable to cuts.
'We are heading into what is likely to be a crisis of unimaginable proportions and we are heading into that from a place of great vulnerability,' the organization's CEO Kate Maehr told Book Club Chicago.
'People are going to suffer and these families have children,' added Evelyn Figueroa, founder of Chicago's Pilsen Food Pantry, which distributes roughly 33,000 pounds of food to about 600 households a week. 'Not all costs are financial. Human suffering is a cost.'
In Indiana, where more than 600,000 people receive SNAP benefits, food banks pooled together to take out television ads urging viewers to call their representatives.
'Hoosiers will continue to struggle feeding their families with the drastic cuts Congress is currently considering,' said Emily Bryant, the executive director of Feeding Indiana's Hungry. 'The nonprofit sector is already scrambling to meet the need — the lines at food pantries are getting longer by the day. We call on Congress to act now to save lives.'
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Reuters
2 minutes ago
- Reuters
Zelenskiy arrives at White House for high-stakes Trump meeting
WASHINGTON, Aug 18 (Reuters) - U.S. President Donald Trump said on Monday that the United States would "help out" Europe in providing security for Ukraine as part of any deal to end Russia's war in Ukraine, as he and President Volodymyr Zelenskiy began a hastily arranged White House meeting to discuss a path to peace. Speaking to reporters in the Oval Office with Zelenskiy seated beside him, Trump also expressed hope that Monday's summit could eventually lead to a trilateral meeting with Russian President Vladimir Putin, adding that he believes Putin wants the war to end. Zelenskiy and a group of European leaders arrived in Washington facing increased pressure from Trump to reach a resolution to end the war on terms more favorable to Moscow, after Trump and Putin met in Alaska on Friday for nearly three hours. "We need to stop this war, to stop Russia and we need support - American and European partners," Zelenskiy told reporters. Trump greeted Zelenskiy outside the White House, shaking his hand and expressing delight at Zelenskiy's black suit, a departure from his typical military clothes. When a reporter asked Trump what his message was to the people of Ukraine, he said twice, "We love them." Zelenskiy thanked him, and Trump put his hand on Zelenskiy's back in a show of affection before the two men went inside to the Oval Office, where their last meeting in February ended in disaster after Trump dressed Zelenskiy down in front of television cameras. This time, the leaders of Britain, Germany, France, Italy, Finland, the European Union and NATO joined Zelenskiy to demonstrate solidarity with Ukraine and push for strong security guarantees in any post-war settlement. Trump is pressing for a quick end to Europe's deadliest war in 80 years, and Kyiv and its allies worry he could seek to force an agreement on Russia's terms after the president on Friday in Alaska rolled out the red carpet - literally - for Putin, who faces an arrest warrant from the International Criminal Court for war crimes. The European leaders will meet with Trump afterwards in the White House's East Room at 3 p.m. EDT (1900 GMT), according to the White House. Such a high-level gathering at the White House on such short notice appears to be unprecedented in recent times. Russian attacks overnight on Ukrainian cities killed at least 10 people, in what Zelenskiy called a "cynical" effort to undermine talks. Trump has rejected accusations that the Alaska summit had been a win for Putin, who has faced diplomatic isolation since Russia's invasion of Ukraine in 2022. "I know exactly what I'm doing, and I don't need the advice of people who have been working on all of these conflicts for years, and were never able to do a thing to stop them," Trump wrote on social media. Trump's team has said there will have to be compromises on both sides to end the conflict. But the president himself has put the burden on Zelenskiy to end the war, saying Ukraine should give up hopes of getting back Crimea, annexed by Russia in 2014, or of joining the NATO military alliance. Zelenskiy "can end the war with Russia almost immediately, if he wants to, or he can continue to fight," Trump said on social media. Zelenskiy has already all but rejected the outline of Putin's proposals from the Alaska meeting. Those include handing over the remaining quarter of its eastern Donetsk region, which is largely controlled by Russia. Ukrainian forces are deeply dug into the region, whose towns and hills serve as a crucial defensive zone to stymie Russian attacks. Any concession of Ukrainian territory would have to be approved by a referendum. Zelenskiy is also seeking an immediate ceasefire to conduct deeper peace talks, a position that his European allies have also backed. Trump previously favored that idea but reversed course after the summit with Putin, instead indicating support for Russia's preference to negotiate a comprehensive deal while fighting rumbles on. Ukraine and its allies have taken heart from some developments, including Trump's apparent willingness to provide post-settlement security guarantees for Ukraine. A German government spokesperson said on Monday that European leaders would seek more details on that in the talks in Washington. The war, which began with a full-scale invasion by Russia in February 2022, has killed or wounded more than a million people from both sides, including thousands of mostly Ukrainian civilians, according to analysts, and destroyed wide swaths of the country. 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Auto Blog
3 minutes ago
- Auto Blog
Walmart Is Selling ‘Very Bright' Outdoor Solar Lights for Just $26
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. BMW's latest lease deal makes the updated X3 M50 xDrive an appealing option for shoppers who want performance and luxury in one package. Brabus dropped jaws at Monterey Car Week with the Rocket GTC, a 986-hp SL-based creation that blends hypercar performance, bespoke styling, and pure theater. Luxury sedans are great, but expensive. Genesis is shaking up the luxury market with the G80 2.5T Prestige. To complement the aggressive V8, it has a body kit inspired by the legendary 190E Evolution II. Autoblog aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission. During the warmer months, your outdoor space quickly becomes your go-to for hangouts and dining al fresco. While the sun helps to brighten your yard during the day, you probably need a little help with nighttime illumination. Right now, Walmart is having an awesome deal on the Qunler Outdoor Solar Lights. For those who want to add extra lighting to their outdoor area, this compact option is now available for just $26, which is 74% off the original retail price. Qunler Outdoor Solar Lights, $26 (was $100) at Walmart The two-pack of solar lights can be controlled via a wireless remote with four setting options including long light, dim, strong, and SOS flashing mode. Each solar light measures 7.08 inches long, 5.70 inches wide, and 6.69 inches high, and offers 304 built-in super bright LEDs that can produce up to 2,500 lumens of high brightness output. With a four-head design that has a 270-degree lighting angle, you can easily illuminate your backyard, patio, driveway, pathway, and more. The lights also feature motion sensor technology with a 26-foot sensing distance and 120-degree sensor. 'Worth every penny,' wrote one shopper. 'Recommend to any person who is interested in solar lighting. I have had this for 1.5 years and still works amazingly. Save money on electric bills and batteries.' 'Great solar lights,' said a second reviewer. 'Very bright and great price.' Another added, 'Very pleased with the quality of these lights.' To charge the lights, make sure they are placed under direct sunlight for up to two days on the first use. They are powered by a built-in 2,000mAh battery and feature a mono-si solar panel for quick charging. No matter the weather, these lights will still shine brightly due to their IP65 waterproof, heat-, and frost-resistant construction. Your purchase also includes a wall base, installing screws, and expansion anchors that help you mount them to garages, sheds, and more. A fourth customer wrote, 'This works perfectly in my yard. It is also easy to install because it's solar and has no wires to run. Highly recommended.' Get ready for summertime fun with these $26 outdoor solar lights. They are a quick and easy way to make sure your space is properly lighted at night. About the Author Victoria Garcia View Profile

Finextra
3 minutes ago
- Finextra
A Data Dilemma: Reclaiming Time for Profit in the Financial Markets
The financial markets are a relentless, data-driven ecosystem. Success hinges on the speed and accuracy with which institutions can extract, analyze, and interpret the torrent of market information. Data analysts and quantitative analysts (quants) are the critical navigators of this complex landscape, yet they often find themselves mired in a Sisyphean task: wrestling with the sheer volume and complexity of messy financial data. This "data wrangling" bottleneck consumes valuable time, hindering the strategic analysis that drives profitability, maintains regulatory compliance, and ultimately, defines competitive advantage. This article delves into the core challenges facing data professionals in finance and explores how intelligent automation, particularly through the strategic application of Artificial Intelligence (AI), offers a powerful and transformative solution, directly impacting the bottom line. The Data Wrangling Bottleneck: A Costly Impediment to Profitability The core dilemma stems from the inherent complexity of financial data. Analysts in the financial sector are routinely confronted with: Data Silos & Fragmented Information: Imagine a global investment bank. Data is scattered across a multitude of sources: real-time market data feeds (Bloomberg, Refinitiv), internal trading platforms, legacy systems, and various proprietary databases. This fragmented landscape necessitates manual data aggregation, a time-consuming process that delays critical insights. Business Use Case: A proprietary trading desk struggles to correlate market sentiment derived from news feeds with trading volume data from different exchanges. Manual aggregation delays their ability to identify and capitalize on emerging trading opportunities, leading to missed profits. Imagine a global investment bank. Data is scattered across a multitude of sources: real-time market data feeds (Bloomberg, Refinitiv), internal trading platforms, legacy systems, and various proprietary databases. This fragmented landscape necessitates manual data aggregation, a time-consuming process that delays critical insights. Data Quality Issues: The Silent Killer of Accuracy: Inconsistent formats, missing values, and inherent errors are commonplace. This necessitates painstaking cleansing, validation, and transformation. Business Use Case: A hedge fund's risk management team relies on accurate pricing data for its portfolio. Data quality issues, such as inaccurate closing prices, can lead to flawed risk assessments and potentially disastrous trading decisions. The time spent correcting these errors directly impacts the speed and effectiveness of their risk mitigation strategies. Inconsistent formats, missing values, and inherent errors are commonplace. This necessitates painstaking cleansing, validation, and transformation. Manual Reporting Demands: Compliance at a Cost: The regulatory landscape is constantly evolving (MiFID II, Dodd-Frank, Basel III, etc.), demanding complex reporting on trading activities, risk exposure, and portfolio performance. These reports often require tedious manual processes, diverting valuable analyst time away from strategic initiatives. This is where data security and privacy become paramount. Regulations like GDPR and CCPA mandate strict control over data, requiring robust security measures throughout the data lifecycle. Business Use Case: A global asset manager faces mounting pressure to comply with evolving ESG (Environmental, Social, and Governance) reporting standards. Manually compiling and analyzing the necessary data to meet these requirements is time-intensive and limits their ability to focus on investment strategy and client service. Moreover, they must ensure the security and privacy of the data used in these reports, especially when dealing with client information. This includes secure storage, access controls, and adherence to data minimization principles. The regulatory landscape is constantly evolving (MiFID II, Dodd-Frank, Basel III, etc.), demanding complex reporting on trading activities, risk exposure, and portfolio performance. These reports often require tedious manual processes, diverting valuable analyst time away from strategic initiatives. This is where data security and privacy become paramount. Regulations like GDPR and CCPA mandate strict control over data, requiring robust security measures throughout the data lifecycle. These activities, while essential for operational integrity, represent a significant opportunity cost. This time drain translates into: Reduced Productivity & Diminished Returns: Analysts spend less time on value-added activities, such as model building, strategy development, and in-depth market analysis, directly impacting the development of new products and services. Analysts spend less time on value-added activities, such as model building, strategy development, and in-depth market analysis, directly impacting the development of new products and services. Missed Trading Opportunities: The Cost of Delay: Delayed insights and slower decision-making can result in missed opportunities to capitalize on market fluctuations, impacting revenue generation. Business Use Case: A high-frequency trading firm relies on milliseconds to gain an edge. Delays in data processing and analysis, even by fractions of a second, can mean the difference between a profitable trade and a missed opportunity. Delayed insights and slower decision-making can result in missed opportunities to capitalize on market fluctuations, impacting revenue generation. Increased Risk Exposure: Vulnerability to the Unseen: Delays in risk assessments and anomaly detection can leave firms vulnerable to unforeseen risks, potentially leading to substantial financial losses. Furthermore, inadequate data security practices can expose sensitive financial data to breaches, leading to financial and reputational damage. Robust security protocols are crucial for mitigating this risk. Business Use Case: A derivatives trading desk struggles to identify and mitigate potential flash crashes or "fat finger" errors. The inability to process data quickly enough can expose them to significant downside risk. Delays in risk assessments and anomaly detection can leave firms vulnerable to unforeseen risks, potentially leading to substantial financial losses. Furthermore, inadequate data security practices can expose sensitive financial data to breaches, leading to financial and reputational damage. Robust security protocols are crucial for mitigating this risk. AI as a Strategic Asset: Automating the Mundane, Empowering the Strategic AI offers a compelling solution by automating the most time-consuming and repetitive aspects of the data analysis workflow, freeing up analysts to focus on higher-level tasks that directly impact profitability, innovation, and competitive differentiation. Key applications of AI in this context include: Automated Data Extraction: Streamlining the Intake: Intelligent connectors can ingest data from diverse sources, automatically formatting and integrating market data, internal data, and external feeds. Business Use Case: An investment bank can use AI-powered data ingestion to automatically pull data from multiple sources (market data feeds, internal order management systems, etc.) and standardize it for use in their trading algorithms, reducing manual effort and improving data consistency. Crucially, these connectors must incorporate robust security measures, including encryption, access controls, and secure data transfer protocols, to prevent unauthorized access and data breaches. Data privacy must also be considered during extraction, ensuring compliance with regulations. Intelligent connectors can ingest data from diverse sources, automatically formatting and integrating market data, internal data, and external feeds. Automated Data Cleansing and Transformation: Ensuring Data Integrity: AI-powered anomaly detection and data validation tools can automatically handle missing values, outliers, and inconsistencies, ensuring data quality. This process must be conducted within a secure environment, protecting the data from unauthorized access or modification. Data masking and anonymization techniques can be employed to protect sensitive information during cleansing and transformation. Business Use Case: A broker-dealer can use AI to automatically cleanse and validate trade data, eliminating errors and inconsistencies that could lead to regulatory violations or financial losses. AI-powered anomaly detection and data validation tools can automatically handle missing values, outliers, and inconsistencies, ensuring data quality. This process must be conducted within a secure environment, protecting the data from unauthorized access or modification. Data masking and anonymization techniques can be employed to protect sensitive information during cleansing and transformation. Automated Reporting & Intelligent Insights: From Data to Decisions: AI can generate real-time reports on portfolio risk, trading performance, and regulatory compliance, freeing up analysts from manual reporting. The generation and distribution of these reports must adhere to strict security protocols, including access controls, encryption, and secure transmission channels. Data privacy considerations must be integrated, ensuring that only authorized individuals have access to sensitive information. Business Use Case: A private equity firm can use AI to automatically generate reports on the performance of its portfolio companies, providing insights into key metrics and identifying potential problems early on. This allows them to make faster, more informed investment decisions and improve returns. AI can also be used to analyze historical data and identify patterns that can be used to predict future performance. AI can generate real-time reports on portfolio risk, trading performance, and regulatory compliance, freeing up analysts from manual reporting. The generation and distribution of these reports must adhere to strict security protocols, including access controls, encryption, and secure transmission channels. Data privacy considerations must be integrated, ensuring that only authorized individuals have access to sensitive information. Predictive Analytics for Proactive Strategies: AI can analyze historical and real-time data to predict market trends, identify arbitrage opportunities, and optimize trading strategies. The models used for predictive analytics must be developed and deployed with robust security and privacy measures. This includes secure model storage, access controls, and regular security audits to prevent unauthorized access or model manipulation. Business Use Case: A quantitative hedge fund can use AI to build predictive models that identify high-probability trading opportunities, enabling them to generate alpha more efficiently. AI can analyze historical and real-time data to predict market trends, identify arbitrage opportunities, and optimize trading strategies. The models used for predictive analytics must be developed and deployed with robust security and privacy measures. This includes secure model storage, access controls, and regular security audits to prevent unauthorized access or model manipulation. This automation translates into tangible, measurable benefits: Increased Efficiency & Optimized Operations: Analysts can process more data, analyze more opportunities, and respond to market changes more rapidly, leading to greater throughput and reduced operational costs. Analysts can process more data, analyze more opportunities, and respond to market changes more rapidly, leading to greater throughput and reduced operational costs. Improved Decision-Making & Enhanced Returns: AI-driven insights can provide a deeper understanding of market dynamics, leading to more informed trading decisions and ultimately, improved investment returns. AI-driven insights can provide a deeper understanding of market dynamics, leading to more informed trading decisions and ultimately, improved investment returns. Enhanced Risk Management & Mitigation of Losses: Faster and more accurate risk assessments can help firms mitigate potential losses, safeguarding capital and preserving reputation. Faster and more accurate risk assessments can help firms mitigate potential losses, safeguarding capital and preserving reputation. Improved Compliance & Reduced Regulatory Risk: Automated reporting and data validation can streamline compliance efforts, reducing the risk of regulatory penalties and ensuring operational resilience. Crucially, AI systems must be designed to comply with all relevant data security and privacy regulations, ensuring that data is handled securely and in accordance with legal requirements. Key Considerations for Successful Implementation: While the benefits of AI are undeniable, successful implementation in the financial sector demands careful planning and execution: Security and Compliance: Data Integrity as a Cornerstone: Solutions must prioritize data security, adhere to stringent regulatory standards (GDPR, CCPA, etc.), and provide auditable processes to maintain trust and meet regulatory requirements. This includes robust encryption, access controls, regular security audits, and data loss prevention measures. Compliance with industry-specific regulations like PCI DSS is also critical. Solutions must prioritize data security, adhere to stringent regulatory standards (GDPR, CCPA, etc.), and provide auditable processes to maintain trust and meet regulatory requirements. This includes robust encryption, access controls, regular security audits, and data loss prevention measures. Compliance with industry-specific regulations like PCI DSS is also critical. Transparency and Explainability: Building Trust Through Understanding: AI-driven insights should be traceable and explainable to maintain trust with regulators, clients, and internal stakeholders. "Black box" AI models are often unacceptable in regulated environments. AI-driven insights should be traceable and explainable to maintain trust with regulators, clients, and internal stakeholders. "Black box" AI models are often unacceptable in regulated environments. Seamless Integration & Minimizing Disruption: Tools should integrate seamlessly with existing trading platforms, risk management systems, and data infrastructure to minimize disruption and ensure a smooth transition. Tools should integrate seamlessly with existing trading platforms, risk management systems, and data infrastructure to minimize disruption and ensure a smooth transition. Skill Development & Talent Acquisition: Successful AI implementation requires a skilled workforce with expertise in data science, machine learning, and financial markets. Investment in training and talent acquisition is crucial. The Path Forward: Embracing AI for a Competitive Edge By strategically embracing AI-powered solutions, financial institutions can empower their data analysts and quants to reclaim their time and focus on what matters most: generating profitable trades, driving innovation, and navigating the complexities of the financial landscape. The shift from data preparation to strategic analysis is crucial for staying competitive in today's fast-paced financial markets. The future of financial data analysis is undeniably shaped by AI, offering a powerful path to unlock the full potential of data and fuel sustained business success. However, the integration of AI must be coupled with a strong commitment to data security and privacy. This includes implementing robust security measures, complying with relevant regulations, and building a culture of data protection. Only then can financial institutions fully realize the benefits of AI while mitigating the risks. Those who embrace this transformation will be best positioned to thrive in the years to come.