Why AI shouldn’t entirely decide promotions and raises—and where the human touch matters

Good morning!

I’m back in New York after a thrilling week in Riyadh, Saudi Arabia. At our Fortune Global Forum , economics and geopolitical tensions were hot topics, but the future of the workforce and workplace also came up in so many conversations.

Take the legendary hedge fund manager Ray Dalio, who told my colleague Diane Brady onstage that America is developing a dependency on a tiny cohort of high-level workers, specifically those in tech. He warned that most workers’ prospects are increasingly dependent on a narrow segment of the economy.

“If you’re looking at, let’s say, the AI world, and really what amounts to about 3 million people—1% of the population—leading, and then … the 5% or 10% around them, you have one world that the whole world is dependent on,” he explained. “