Cynicism About Changing the World: CEO Daily
Microsoft president Brad Smith, who was the company’s general counsel during its antitrust wars in the 1990s, reckons changes are coming to antitrust enforcement as regulators find new ways to evaluate the behavior of tech giants. Smith concurred with the analysis of Fortune‘s Adam Lashinsky that the U.S. government is about to hew to “hipster antitrust” standards that are based on socioeconomic issues rather than pricing alone. Smith: “Apple-Spotify will be first real case on how operating systems use app stores.”
The European Banking Authority does not have the power to stop a wave of money-laundering across the EU, the regulator’s head has said. José Manuel Campa told the Financial Times: “There have been cases of money laundering in Europe, yes, in some cases pretty sizeable ones. I’m not saying we have a good system. [But]I don’t think the mandate that the EBA has received is the mandate that will solve that problem. It is not a mandate to harmonize [anti-money laundering,] either regulation or practices, across the union. Because to start that process you first need legislation.”
Executives gathered at Fortune CEO Initiative in New York City yesterday agreed that deployment of artificial intelligence is a must-have, but one with major challenges. McKinsey senior partner Daniel Pacthod: “The biggest hurdle is talent and the skill of the leadership team. It has to be a top-three CEO topic. The CEO then has to say, ‘I have to retrain my leadership team, not only at the analytics level but from top to bottom.’”
This edition of CEO Daily was edited by David Meyer. Find , and .