Good morning. It has been nearly three years since OpenAI’s ChatGPT first made its debut, and its arrival has profoundly reshaped the future of work.

Amid the whirlwind that began in November 2022, my colleague Sharon Goldman assesses our current position in her new Fortune feature article , “We’re not in an ‘AI winter’—but here’s how to survive a cold snap.”

Goldman notes that Gartner forecasts global AI spending will reach nearly $1.5 trillion in 2025 and surpass $2 trillion in 2026, driven by integration into smartphones, PCs, and enterprise infrastructure. Major tech companies, including OpenAI, Anthropic, Google , Microsoft , and Meta , continue to benefit from the AI boom.

However, some companies are feeling a chill as they contemplate their AI strategies. Rowan Curr

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