Latest news with #Fortune
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Business Standard
34 minutes ago
- Business
- Business Standard
67% of Fortune Global 30 now run strategic GCCs in India, says ANSR report
About 67 per cent of the Fortune Global 30 and over one-third of the entire Fortune Global 500 now run Global Capability Centres (GCCs) in India, said a newly released report. The report, developed by ANSR in collaboration with UnearthInsight, examines the operating models, talent trends, and innovation maturity across 174 Fortune 500 companies that have established over 390 centres across India. These centres now employ over 950,000 professionals, with a growing share of global functional leadership based in India. 'These centres have evolved into intelligent, AI-native hubs that are not only scaling innovation but redefining how global businesses operate. As digital twins of the headquarters, they are leading platform modernisation, creating IP, and driving real-time, enterprise-wide decisions,' said Vikram Ahuja, Co-Founder, ANSR, and Chief Executive Officer, 1Wrk. Ahuja further added that with the rise of agentic AI and hyperconnected ecosystems, GCCs in India are no longer back offices. They have become the command centres of tomorrow's global enterprise. The report also highlighted that Indian GCCs now house senior functional leaders with global P&L responsibilities. In many cases, they serve as global Centres of Excellence for AI, GenAI, cybersecurity, and product engineering. In terms of preferred cities, Bengaluru and Hyderabad dominate, with over 200 GCCs employing more than 560,000 professionals for Fortune 500 enterprises. The report further noted that the next phase of GCC evolution is marked by intelligent, autonomous operations and deep integration into enterprise strategy, leveraging India's ecosystem to accelerate time-to-value. In terms of sectors, BFSI (21 per cent), Retail/CPG (14 per cent), Healthcare (12 per cent), and Automotive (11 per cent) lead in GCC adoption, reflecting India's ability to support both tech- and domain-intensive operations. Women now account for 30–32 per cent of the workforce in Fortune 500 GCCs in India, with active efforts to build inclusive leadership pipelines. As global enterprises prepare for a future defined by AI, digital resilience, and distributed leadership, India's role as the headquarters for global work continues to deepen, said the report. The Fortune Global 500 GCCs in India Landscape Report 2025 underscores not just the scale, but the strategic significance of India's GCC ecosystem, positioning it as a cornerstone for innovation, growth, and enterprise transformation in the years to come.
NDTV
2 hours ago
- Business
- NDTV
AI Does 50% Work At Salesforce, But Mass Layoffs Not On Cards Yet: CEO Marc Benioff
Artificial Intelligence (AI) performs a lot of work at Salesforce, but the company has no mass lay-off plans yet, CEO Marc Benioff has said. On The Circuit With Emily Chang podcast for Bloomberg, he spoke at length about the transformative power of AI, but added it can either replace humans or enhance them, and he believes in the latter. AI will support and improve human work, instead of taking it away or replacing people completely, he added. With the advancement of AI in the tech industry, Mr Benioff said that some jobs will disappear but new ones will also be created. He explained that Salesforce has already undergone major changes, such as thousands of employees in his company being given new roles and there being a pause on hiring engineering jobs for now. According to Fortune, in the first quarter, the San Francisco-based software company has redeployed more than 50 percent of the people already working with them, he said. His company has created an AI tool that can do tasks like customer service without human supervision with 93 percent accuracy, Mr Benioff said. Humans have led to the formation of some of the greatest innovations and also created several businesses that seek to solve real-world problems, he said. They possess a "superpower" that AI lacks, which is the capacity to show empathy or establish genuine connections with others, Mr Benioff added, reported Fortune. "All of us have to get our heads around this idea that AI can do things that we were doing, he added, stating, "We can move on to do higher-value work." Apple iPod founder Tony Fadell also stressed the importance of being hands-on with the tools, instead of just learning about them in theory. He said that companies nowadays are not hiring freshers like they used to but are looking for those who already have experience. He said that junior-level jobs, like entry-level or fresher jobs, in all industries are at high risk as businesses are no longer willing to spend time training freshers or interns. Last month, Mr Benioff said that AI does up to 50 percent of all work at Salesforce, including critical tasks like customer service, development, and engineering. Microsoft CEO Satya Nadella stated in May that 20 percent to 30 percent of the company's code was generated by Artificial Intelligence. In April, Google CEO Sundar Pichai said more than 30 percent of his company's coding work was done by Artificial Intelligence. In May, Meta CEO Mark Zuckerberg said that within the next 12 to 18 months, AI will soon be doing most of the coding work for his company's Llama Project. Currently, AI can help in auto-completing a section of code and soon will become even better than the top coders, he added.
Yahoo
5 hours ago
- Science
- Yahoo
Martian rock that crash landed in the Sahara listed to sell for around $2M at auction
A huge and 'incredibly rare' chunk of Mars that crash-landed in the Sahara will go on sale for nearly $2m at auction. Sotheby's in New York is selling the 55-pound rock, named NWA 16788, for upwards of $1.6m, which it says is the largest piece of Mars on Earth. The reddish-brown Martian rock travelled 140 million miles to Earth before it was found by a meteorite hunter in Niger in 2023, according to the auction house. The rock is about 70 per cent larger than the next largest piece of Mars found on Earth and represents nearly 7 per cent of all Martian material currently on the planet, Sotheby's said. 'This Martian meteorite is the largest piece of Mars we have ever found by a long shot,' Cassandra Hatton, vice chairman for science and natural history at Sotheby's, told Fortune. An 11ft long dinosaur has also gone up for sale at the auction house, which is estimated to sell for anywhere between $4m and $6m (EPA) Hatton said the rock was sent off for testing to a specialized lab, which found it to be an 'olivine-microgabbroic shergottite,' a type of rock formed from the slow cooling of magma. It is also a rare find. There are only 400 Martian meteorites out of the more than 77,000 officially recognized meteorites found on Earth, Sotheby's says. It also has a glassy surface, likely due to the high heat it experienced when it fell through Earth's atmosphere, Hatton said. 'So that was their first clue that this wasn't just some big rock on the ground,' she said. It's not clear exactly when the meteorite hit Earth, but testing shows it probably happened in recent years, Sotheby's said. The meteorite was previously on exhibit at the Italian Space Agency in Rome. Sotheby's did not disclose the owner. The juvenile Ceratosaurus nasicornis skeleton was found in 1996 near Laramie, Wyoming, at Bone Cabin Quarry (EPA) Meanwhile, an 11-foot-long dinosaur has also been listed for sale at the auction house this week and is estimated to sell for between $4 million and $6 million. The juvenile Ceratosaurus nasicornis skeleton was found in 1996 near Laramie, Wyoming, at Bone Cabin Quarry. It is believed to be from the late Cretaceous period, approximately 65 million years ago, Sotheby's said. It will go up for sale on Wednesday. Ceratosaurus dinosaurs were bipeds with short arms that appeared similar to the Tyrannosaurus rex, but smaller.
Malaysian Reserve
14 hours ago
- Business
- Malaysian Reserve
Graybar Names Jonathan Rayment District Vice President in Seattle
ST. LOUIS, July 15, 2025 /PRNewswire/ — Graybar, a leading distributor of electrical, industrial, automation and connectivity products and provider of related supply chain management and logistics services, has named Jonathan Rayment as District Vice President for the company's Seattle District, effective July 21, 2025. Rayment replaces Steve Breeden, who recently retired after 24 years with the company. Rayment has 18 years of experience in the electrical industry and has worked for Graybar since 2013. He currently serves as Director, Electrical and Industrial Sales in the Seattle District, a position he has held since 2022. As District Vice President, he will lead Graybar's business operations in a territory that includes Washington, Oregon, Idaho, Montana, Alaska and Hawaii. 'We thank Steve Breeden for his many contributions to Graybar,' said Graybar Senior Vice President – West Region and Subsidiaries, Brian Delaney. 'We also congratulate Jon Rayment on his promotion to district vice president. Jon is a highly respected leader who is known for building strong customer relationships and achieving positive results. I look forward to working with him to grow our business and serve our customers in this region.' Graybar, a Fortune 500 corporation and one of the largest employee-owned companies in North America, is a leader in the distribution of high quality electrical, industrial, automation and connectivity products, and specializes in related supply chain management and logistics services. Through its network of more than 350 North American distribution facilities, it stocks and sells products from thousands of manufacturers, helping its customers power, network, automate and secure their facilities with speed, intelligence and efficiency. For more information, visit or call 1-800-GRAYBAR. Media Contact:Tim Sommer(314) 578-7672[email protected]
Time of India
15 hours ago
- Business
- Time of India
America's debt time bomb: Markets could crash before 2026 midterm elections, says ex-IMF official!
The United States may be in line for a severe financial reckoning before the 2026 midterm elections. Desmond Lachman , a former deputy director at the International Monetary Fund, warned that the world is losing trust in the US dollar, and the United States could suffer a financial crisis next year, as reported by Fortune. Why is market trust in the US fading? In a new opinion piece for Project Syndicate, Lachman describes how a mix of rising debt, political turmoil, and declining confidence in US institutions are spooking markets and driving the dollar to record lows, as per the report. In Lachman's view, even before the start of US president Donald Trump's second term, the fiscal health of the nation was already beginning to show the pressure, according to Fortune. But matters have taken a very rapid turn as the sweeping new tax cuts recently signed into law are set to pile trillions onto the national deficit, as per the Fortune report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo ALSO READ: Bitcoin hits $121,000 - Rich Dad Poor Dad author Robert Kiyosaki urges newcomers: Reflect before it's too late What's driving concerns about a crisis? At the same time, Trump's hard-hitting tariffs and repeated pressure on the Federal Reserve to cut interest rates are fuelling inflationary fears and further rattling world confidence in the US economy, according to the report. He also pointed out that, 'Add to that Trump's apparent disregard for the rule of law, and markets see little reason to trust the US,' as quoted in the Fortune report. Live Events How is the US dollar performing? According to him, this could be the reason that the US dollar fell 10% against other top global currencies in the first half of the year, marking the greenback's worst such performance since 1953, as reported by Fortune. ALSO READ: Air taxi revolution? Joby Aviation doubles output, investors react fast, stock skyrockets 7% What's gold telling us about investor confidence? Lachman pointed out that gold increasing 25% this year is another sign of collapsing market confidence in the United States, as are Treasury yields remaining elevated despite market turbulence, according to the report. Can Donald Trump pressure markets like he does politicians? He said that, 'The problem for Trump is that, unlike politicians, markets cannot be pressured or primaried,' while referring to the threat of ousting disobedient lawmakers via primary elections, as reported by Fortune. Lachman added that, 'If he refuses to heed investors' warnings, as seems likely, the US should brace for a dollar and bond-market crisis in the run-up to next year's midterm elections. The days of the world letting America live beyond its means are rapidly coming to an end,' as quoted in the report. Are others echoing these concerns? While the fixed income portfolio manager at Capital Group, John Queen, recently wrote in a client note that, 'Many people have predicted that catastrophe is right around the corner and, someday, one of them is going to be right,' as quoted by Fortune. Queen added that, 'Unfortunately, they are just guessing, so I am not going to predict that. I am instead going to say that I think the market is good at pricing in those concerns,' as quoted in the report. FAQs Is the US heading toward a financial crisis? It's possible, according to former IMF official Desmond Lachman, especially if current economic trends continue unchecked. Why is the US dollar losing value? Lachman says it's due to rising debt, inflation fears, and eroding trust in political and financial leadership, as per the Fortune report.
