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On Sunday, the genetic testing and heritage company 23andMe announced that it had entered Chapter 11 bankruptcy and was asking a court to arrange its sale. The company has been losing money for years, and a conflict between its board and CEO about future directions led to the entire board resigning back in September.
This marks the latest instance of AI confabulations (also called "hallucinations") causing potential business damage. Confabulations are a type of "creative gap-filling" response where AI models invent plausible-sounding but false information.
and Fast Company. Steven Kramer, CEO of workforce management software company WorkJam, shared an example of a retail client whose salespeople noticed a batch of sweaters that had uneven sleeves. They shared information about the defect with management, and the company was able to pull the item from the stores.
In an increasingly post-literate world , companies continue to turn to video to communicate with key stakeholders, and two of this years business services honorees help enterprises produce streamable content more efficiently.
The company that operates the fast-fashion retail brand, called F21 OpCo, LLC, has filed for Chapter 11 bankruptcy protection in a Delaware court. stores and hold going-out-of-business sales, there is still a chance for a sale that could keep some operations running. Fast Company has reached out to Forever 21 for comment.
Its been gradual, but generative AI models and the apps they power have begun to measurably deliver returns for businesses. Contextual AI lets organizations put a companys proprietary intelligence into a secure data store, then lets them build AI apps that can call on that data. billion valuation.
After nearly 13 years leading PepsiCo design, its first chief design officer Mauro Porciniis departing the company. And he spent the next decade investing in more internal talentsuccessfully arguing that the approach would actually save the company money while offering stronger creative autonomy. Porcinis next move is still unknown.
Chinese companies are upping orders of NVIDIAs H20 AI chip as demand booms for DeepSeeks low-cost AI models, according to an exclusive report from Reuters. Cloud service providers in particular, including Tencent, Alibaba, and ByteDance, are significantly increasing their orders of the H20 chip, sources said. Reuters ]
The chip company had been reading the tea leaves and built new features into its GPUs that made them even better suited to real-time inference than before. Even before the appearance of new reasoning models, some of AIs hottest companies produced state-of-the-art new AI systems. But one company is already reaping the rewards.
The businesses in Fast Company s Most Innovative Companies in AR/VR reflect that trend. Squint For training manufacturing workers with AR/VR and AI Squint, which launched in 2022, works with manufacturing companies to generate AR demos of common procedures. In April 2024, it unveiled Squint 2.0,
The discount retailer will see another 54 store reopenings at the beginning of next month, according to Variety Wholesalers, the North Carolina-based retail company that has taken control of hundreds of Big Lots leases. The company fell under the control of liquidation firm Gordon Brothers and had been expected to close every location.
If a job is about more than the title or even the paybut also a chance to find a deeper meaning and sense of purposethe honorees in the inaugural class of most innovative companies in economic development are chasing a similar ideal, just on a larger scale. to adopt a net zero goal back in 2019.
In the midst of an artificial intelligence boom thats reshaping almost every facet of the business world, companies are competing in an arms race to build the best and brightest models and fully embrace the nascent technology, whether thats as a product or service for customers or as an integralcomponent of their organizations processes.
Innovative agriculture companies must now dedicate significant energy to ensuring future generations of farmers can continue to grow healthy, bountiful crops and feed the planet. The most innovative companies in agriculture for 2025 include forward-thinking businesses and nonprofits with at least one eye firmly on this future.
By CONCAT — the first website design and development company solely led by refugees and women from countries of conflict. Also, setting up a Google Business Profile for your nonprofit also helps. CONCAT is the first website design and development company solely led by refugees and women from countries of conflict.
This year, the most innovative companies in the education sector are tackling a dizzying array of challenges facing students and schools alikenot to mention parents. This June, Amira merged with 27-year-old digital learning company Istation, whose gamified educational content was being used in more than 1,000 school districts.
The projects ground floor retail, reserved for local businesses, is designed to further activate the area. Explore the full 2025 list of Fast Companys Most Innovative Companies , 609 organizations that are reshaping industries and culture.
After a few years at the company, he spent half a decade freelancing in product development, but eventually found himself pulled back to the beverage industry. Goodwin still formulates flavors much the same way today, despite running a company worth billions of dollars. Theres a sink, and he can put a metal table in there.
The promise of next-generation travel hasnt fully materialized yet, but legions of companies around the world are focused on bringing the vision to life. This years list of the most innovative automotive companies recognizes both the upstarts and the incumbents advancing the next era in mobility. Robotaxis at your beck and call.
Moderated by Tania Rahman ,Social Media Director, Fast Company. So why not take a page out of the book of companies that have made fandom the foundation of their business? Cultivating a loyal fan base is every brand’s dream.
Biotechnology company 23andMe has filed for bankruptcy, with co-founder and CEO Anne Wojcicki stepping down, effective immediately. The DNA testing company said it would use the money from the sale to "resolve all outstanding legal liabilities stemming from the previously disclosed October 2023 cyber incident." she wrote. "I
Shares of Intel Corporation ( NASDAQ:INTC ) surged over 15% on Thursday as Wall Street welcomed the chipmaker’s appointment onWednesday of new CEOLip-Bu Tan , just three months after the company ousted former CEO Pat Gelsinger. The company’s stock dropped 59.60% of its value last year.
You think, I can go grab somethingoh wait, its in ashes, said Faquir, who has worked at the shop since her mother, Barbara Shay, took over the family business seven years ago. More than 1,800 businesses were located in the Eaton and Palisades fire zones , according to Los Angeles Countys Economic Development Corporation. In the L.A.
This is the first lunar mission for Firefly Aerospace, a company established in 2014 to develop a small satellite launcher. Since then, Firefly has undergone changes in ownership, a bankruptcy, and a renaming.
Featuring Jerry Grammont, CEO, Mab Artisanal Tea; Jori Miller Sherer, President, Minnetonka and Mika Shino, Founder and CEO, Issei Mochi Gummies.Moderated by Kc Ifeanyi, Executive Director of Editorial Programming, Fast Company.
Tan said he’ll need to make “tough decisions” when he takes Intel’s helm on Tuesday, after the company posted $19 billion in annual losses in 2024. Tan said he’ll need to make “tough decisions” when he takes Intel’s helm on Tuesday, after the company posted $19 billion in annual losses in 2024.
Partnerships between nonprofit organizations and for-profit companies to boost workplace volunteering and community impact can create significant value for both parties. Encourage use of Volunteer Time Off Eighty-four percent of Civic 50 companies offer their employees paid volunteer time off (VTO).
American companies that make everything from keychains to mattresses say Chinese manufacturing is superior, and tariffs wont be enough to shift production to the United States.
and Fast Company. Regular readers of Modern CEO know I often cite advice and anecdotes from Bill George, the former chairman and CEO of Medtronic and executive fellow at Harvard Business School. Hes doing an amazing job at Harvard Business School, running CEO programs there, and wrote a book, The Heart of Business.
Key LMS Features Every Life Sciences Company Needs for Regulatory Compliance GyrusAim LMS GyrusAim LMS - In the life sciences industry , regulatory compliance is not just a requirement; its a fundamental aspect of operational integrity. Top 10 Essential LMS Features Life Sciences Companies Need for Regulatory Compliance 1.
and Fast Company. I was a business journalist focused on getting more challenging editorial assignments.) And even if I had wanted to run a company, I wouldnt have known how to cobble together the necessary experiences to qualify for a CEO role. When I was a young professional in the 1990s, I didnt aspire to be a CEO. (I
The cuts were announced during an all-hands meeting on Thursday morning led by the rocket company's chief executive, Dave Limp. During the gathering, Limp cited "business strategy" as the rationale for making the cuts to a workforce of more than 10,000 people.
From video game developers to a nuclear power plant, companies across China are adopting DeepSeeks AI models to boost stock prices and flaunt their national pride.
The layoffs were authorized via an amendment to the companys restructuring plan, which aims to see the company cut costs. HP expects incremental gross workforce reductions of approximately 1,000 to 2,000 employees in connection with the amendment, the company said in the filing. That equated to about 9% of its total workforce.
In downtown Reykjavk, most buildings date back to the 18th century with storefronts that sit slightly elevated above street level, making one or two steps a recurring access barrier across most of the citys core business district. And this isnt just an Icelandic issue. I had some money, and I was able to quickly raise more.
In an increasingly uncertain global market, product and growth leaders have a greater effect than ever on a company’s success, impacting not only business growth, but making business transformation possible.
We did it because it was that or go out of business, Cozzolino says. Now, the company is selling more products than its able to make, and Cozzolino and his team can focus on the part of the business they love most: the agricultural and culinary work, and sharing the therapeutic benefits of cannabis.
Fast Company is extending its application deadline for Best Workplaces for Innovators 2025 to Friday, April 4, at 11:59 p.m. In addition to honoring the worlds 100 Best Workplaces for Innovators, we will recognize companies in more than a dozen different categories. Pacific Time.
Logged-in users can take advantage of the new offerings, which mark a big step for the 31-year-old company’s effort to regain a bigger presence in Search after being swamped by Google over 20 years ago. where she led the launch of the first mobile apps for Fox News and Fox Business. .”
Back in January, Substack CEO Chris Best wrote on his personal account that the company was going to rescue the smart people from TikTok! It seems hes making good on that promise, as the company announced on Monday that its rolling out a scrollable video feed in its app. Substack hopes to continue building on this momentum.
Leading artificial intelligence firms including OpenAI, Microsoft, and Meta are turning to a process called distillation in the global race to create AI models that are cheaper for consumers and businesses to adopt.
Given the uncertainty around the future of the DNA testing company and what will happen to all of the genetic data it has collected, now is a critical time for customers to protect their privacy. The details are in the company's privacy policy. Here are the steps to deleting your records with 23andMe.
Branded is a weekly column devoted to the intersection of marketing, business, design, and culture. Meanwhile, Costco reaffirmed its own DEI commitments as simply good for business and while that sparked some boycott chatter in the anti-woke mob, it didnt amount to much.
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