PepsiCo

The corporations on our annual list of the world's 500 largest companies combined to generate $41.7 trillion in revenue over the past year.

Fortune Global 500

Almost $20 trillion in revenue—and a record-breaking $1.87 trillion in profits. Introducing the 2025 Fortune 500, the definitive list of the biggest companies in America.

Fortune 500

The 300 companies on this year’s list brought in over $12.6 trillion in revenue for the latest 12 months, with the median revenue figure at $22 billion.

America's Most Innovative Companies

Leaders in all industries rely more than ever on Big Tech—and appreciate the giants that deliver, at scale, without drama.

World's Most Admired Companies

The corporations on our annual list posted aggregate revenues of $41 trillion for the second year in a row.

Industries included in the sector are beverages, food consumer products, and food production.

Fortune Sector Leaders: Food, Beverages, and Tobacco

The Fortune 500, in its 70th year in 2024, ranks the biggest U.S. companies by revenue.

The 200 companies on this list are transforming industries from the inside out.

The 26th edition of the list shows how much esteem Big Tech giants command among other business leaders.

WMA 2024-PepsiCo

The 25th Fortune World’s Most Admired Companies list suggests that tech giants’ peers respect them as much as ever.

WMA-2023-PepsiCo

The corporations on our annual list of the world’s largest companies delivered a record $41 trillion in aggregate revenues.

The 300 companies on this list are transforming industries from the inside out.

The Fortune 500, in its 69th year in 2023, ranks the biggest U.S. companies by revenue.

F500-2023-046-PepsiCo

PepsiCo, the second-largest food and beverage company in the world, grappled with inflation in 2022. The rising cost of goods forced the brand behind products like Doritos, Lay’s, Gatorade, and Pepsi to hike prices on some of its own products, which boosted revenue but hurt demand as consumers cut discretionary spending. 
<ul> 
 	<li>PepsiCo's net revenue for the fiscal year grew 8.7% to $86.4 billion, and the operating profit on its North America beverage segment rose 122% to $5.43 billion year over year following its sale of some juice brands in 2021.</li> 
 	<li>PepsiCo expects organic revenue growth to be slower in 2023, and plans to buy back roughly $1 billion worth of shares to shore up its finances.</li> 
 	<li>PepsiCo plans to roll out Tesla electric delivery trucks in 2023.</li> 
</ul>

Just as it dominates our economy, Big Tech now dominates Fortune’s annual ranking of corporate reputation.

WMAC-2022-40 Pepsico

Aggregate sales hit $37.8 trillion last year—an increase of 19%, the highest annual growth rate in the list’s history.

This year’s Fortune 500 marks the 68th running of the list.

F500 2022-PepsiCo

PepsiCo is the second-largest food and beverage company in the world, known for household snacks such as Cheetos and Doritos, as well as beverages like Gatorade, Pepsi, and Mountain Dew. The company’s revenue rose 13% in 2021 as consumer spending rebounded broadly from the worst of the COVID-19 pandemic. But PepsiCo has forecast that inflation in prices for ingredients and higher shipping costs will hurt its prospects in 2022. The continuing Ukraine-Russia conflict has also negatively affected the beverage giant. In April 2022 the company reported more than $400 million in impairment charges related to its loss of business in the two nations.

After a year in which humanity leaned more heavily than ever on tech giants, see which companies topped Fortune's ranking of corporate reputation.

WMAC 2021-39-Pepsico

Total revenue for the world’s biggest companies fell 4.8% to $31.7 trillion this year—the first decline in half a decade.

G500 131 Pepsico

<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;PepsiCo saw a boost in sales of snacks and breakfast foods like oatmeal and pancakes as more consumers ate at home more often during the pandemic—a shift that helped push revenue over the $70 billion mark, a nearly 5% increase over the prior year. But soda sales were soft as venues like restaurants and arenas closed, and profits declined 2.7%, with the beverage and snacking giant spending some $800 million on COVID-19–related costs. The company has made big investments in e-commerce, launching two direct-to-consumer websites and acquiring Chinese online snack company Be &amp; Cheery. CEO Ramon Laguarta, now in his third year on the job, has continued PepsiCo’s sustainability push, including the company’s recent commitments to regenerative agriculture. &quot;}" data-sheets-userformat="{&quot;2&quot;:14721,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:2,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:11}">PepsiCo saw a boost in sales of snacks and breakfast foods like oatmeal and pancakes as more consumers ate at home more often during the pandemic—a shift that helped push revenue over the $70 billion mark, a nearly 5% increase over the prior year. But soda sales were soft as venues like restaurants and arenas closed, and profits declined 2.7%, with the beverage and snacking giant spending some $800 million on COVID-19–related costs. The company has made big investments in e-commerce, launching two direct-to-consumer websites and acquiring Chinese online snack company Be &amp; Cheery. CEO Ramon Laguarta, now in his third year on the job, has continued PepsiCo’s sustainability push, including the company’s recent commitments to regenerative agriculture.

This year’s Fortune 500 marks the 67th running of the list.

F500-2021-44-PepsiCo

<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;PepsiCo saw a boost in sales of snacks and breakfast foods like oatmeal and pancakes as more consumers ate at home more often during the pandemic—a shift that helped push revenue over the $70 billion mark, a nearly 5% increase over the prior year. But soda sales were soft as venues like restaurants and arenas closed, and profits declined 2.7%, with the beverage and snacking giant spending some $800 million on COVID-19–related costs. The company has made big investments in e-commerce, launching two direct-to-consumer websites and acquiring Chinese online snack company Be &amp; Cheery. CEO Ramon Laguarta, now in his third year on the job, has continued PepsiCo’s sustainability push, including the company’s recent commitments to regenerative agriculture. &quot;}" data-sheets-userformat="{&quot;2&quot;:14721,&quot;3&quot;:{&quot;1&quot;:0},&quot;10&quot;:2,&quot;11&quot;:4,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Calibri&quot;,&quot;16&quot;:11}">PepsiCo saw a boost in sales of snacks and breakfast foods like oatmeal and pancakes as more consumers ate at home more often during the pandemic—a shift that helped push revenue over the $70 billion mark, a nearly 5% increase over the prior year. But soda sales were soft as venues like restaurants and arenas closed, and profits declined 2.7%, with the beverage and snacking giant spending some $800 million on COVID-19–related costs. The company has made big investments in e-commerce, launching two direct-to-consumer websites and acquiring Chinese online snack company Be &amp; Cheery. CEO Ramon Laguarta, now in his third year on the job, has continued PepsiCo’s sustainability push, including the company’s recent commitments to regenerative agriculture.

For an astounding 13th straight year, Apple claims the top spot in Fortune’s annual ranking of corporate reputation, based on a survey of almost 3,800 executives, directors, and analysts.

This year's Fortune Global 500 generated $33.3 trillion in revenues and $2.1 trillion in profits.

G500-2020-160-PepsiCo

PepsiCo continued its quest to offer consumers healthier food and beverage options in 2019, with the acquisitions of Hormel's CytoSport business, which makes Muscle Milk protein shakes, and BFY Brands, producer of PopCorner snacks. Ramon Laguarta, the successor to longtime CEO Indra Nooyi, ended his first year on the job with strong revenues of $67.1 billion, up from $64.7 billion in 2018. Now he finds himself with a pandemic to navigate. While quarantining consumers stocked up on Quaker products and Tostitos chips, an expected lag in beverage sales at gas stations and restaurants compelled PepsiCo, an advertising stalwart, to curtail its marketing spend in early 2020.

This year's Fortune 500 marks the 66th running of the list.

F500-2020-051-PepsiCo

Here are the World's Most Admired Companies for 2019 as ranked in their industries. See who made the list.

This year's Fortune Global 500 generated $27.7 trillion in revenues and $1.5 trillion in profits.

This year's Fortune 500 marks the 65th running of the list.

Here are the World's Most Admired Companies for 2018 as ranked in their industries. See who made the list.

This year's Fortune 500 marks the 64th running of the list.

Here’s our look at 57 companies that do well by doing good.

Change the World

Here are the World's Most Admired Companies for 2017 as ranked in their industries. See who made the list.

This year's Fortune 500 marks the 63rd running of the list.

Here are the World's Most Admired Companies for 2016 as ranked in their industries. See who made the list.

This year's Fortune Global 500 generated $27.6 trillion in revenues and $1.5 trillion in profits.

This year's Fortune 500 marks the 62nd running of the list.

Here’s our look at 50 companies that do well by doing good.

Business insiders have spoken: Asked which companies they most admire, more than 4,100 executives, directors, and analysts chose these top 50 All-Stars.

The world's 500 largest companies generated $31.2 trillion in revenues and $1.7 trillion in profits in 2014. Together, this year's Fortune Global 500 employ 65 million people worldwide and are represented by 36 countries.

This year's Fortune 500 marks the 61st running of the list. Wal-Mart claims the top spot again. See who made the list.

Global business is back. After limping through a worldwide financial crisis and economic slowdown, the 500 largest companies ranked by revenues shattered all sorts of performance records in 2013: They racked up combined revenues of $31.1 trillion, up 2.5% from 2012, and profits soared 27% to nearly $2 trillion. China’s 95 companies (up from 89 last year) posted $5.8 trillion in revenues. The U.S. has four fewer companies on the list than last year but remains (for now) the country leader, with 128 corporations on the list—including No. 1 Wal-Mart Stores—reporting $8.6 trillion in revenues. 

Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

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PepsiCo, founded in 1965 through the merger of Pepsi-Cola and Frito-Lay, is a leading global food and beverage company. Headquartered in Purchase, N.Y., PepsiCo has a portfolio of brands that includes Pepsi, Mountain Dew, Lay’s, Gatorade, Tropicana, and Quaker. The company operates in more than 200 countries and territories.

Q2 2025

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PepsiCo (PEP): Company Profile, Stock Price, News, Rankings

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PepsiCo | Fortune

PepsiCo (PEP): Company Profile, Stock Price, News, Rankings | Fortune

Seth Borenstein

The Associated Press

Climate change is making Americans crave soda to the tune of 100 million pounds of added sugar a year, new study finds

/2025/09/08/climate-change-sugary-drinks-soda-added-sugar/

Erin Cabrey

Retail Brew

Cola lovers: PepsiCo has a prebiotic soda in the works for you—and it’s not Poppi

/2025/07/29/pepsi-prebiotic-soda-poppi/

Chris Morris

Coke and Pepsi both unveil new sodas made with cane sugar, but neither are what you’d expect

/2025/07/22/coke-pepsi-new-sodas-cane-sugar/

Emma Burleigh

Like Starbucks and Chipotle’s CEOs, this $450 million AI boss lifts weights to destress from the top job—he’s trying to join the 1,000 pound club

/2025/06/25/david-shim-read-ai-cofounder-ceo-the-good-life-lifestyle-tech-uniform-video-games/

Ellie Austin

Nina Ajemian

Poppi founder Allison Ellsworth went from making soda in her kitchen to selling her company to PepsiCo for $1.95 billion

/2025/06/16/poppi-founder-allison-ellsworth-went-from-making-soda-in-her-kitchen-to-selling-her-company-to-pepsico-for-1-95-billion/

https://fortune.com/2025/06/16/poppi-founder-allison-ellsworth-went-from-making-soda-in-her-kitchen-to-selling-her-company-to-pepsico-for-1-95-billion/?itm_source=parsely-api

Coke and Pepsi both unveil new sodas made with cane sugar, but neither are what you'd expect

https://fortune.com/2025/07/22/coke-pepsi-new-sodas-cane-sugar/?itm_source=parsely-api

Like Starbucks and Chipotle's CEOs, this $450 million AI boss lifts weights to destress from the top job—he’s trying to join the 1,000 pound club

https://fortune.com/2025/06/25/david-shim-read-ai-cofounder-ceo-the-good-life-lifestyle-tech-uniform-video-games/?itm_source=parsely-api

https://fortune.com/2025/09/08/climate-change-sugary-drinks-soda-added-sugar/?itm_source=parsely-api

Jaimie Ding

Coca-Cola and Pepsi, two of the world's top plastic polluters, just got slapped with a lawsuit alleging exaggerated recycling claims and downplayed health effects

https://fortune.com/2024/11/01/coca-cola-pepsi-plastic-pollution-lawsuit-los-angeles-county/?itm_source=parsely-api

Sasha Rogelberg

Tropicana reignited a 15-year feud with customers over its packaging design, slimming down bottles

https://fortune.com/2024/11/19/tropicana-bottle-packaging-redesign-backlash-shrinkflation/?itm_source=parsely-api

How one company justified a million-dollar logo redesign inspired by the Mona Lisa—and moved just two wavy lines: ‘Surely this is satire’

https://fortune.com/2024/05/19/logo-redesign-million-dollars-pepsi/?itm_source=parsely-api

Wendy’s CEO Kirk Tanner is betting big on Wendy’s future—expanding internationally, doubling down on breakfast, and leveraging data to drive smarter decisions. In this episode of Leadership Next, cohosts Diane Brady and Kristin Stoller sit down with Kirk to discuss the fast-food giant’s evolving strategy. Tanner shares insights on the brand’s commitment to fresh ingredients, digital innovation, and international expansion, while reflecting on key leadership lessons from his time at PepsiCo. He also explains why failing forward is essential, how customer behavior—not just feedback—shapes decisions, and sets the record straight on Wendy’s so-called “surge pricing” controversy. Plus, he shares Wendy’s approach to transparency and career advice for rising professionals. 

Failing Forward: Wendy’s CEO Kirk Tanner on Leadership, Innovation, and Customer-Centric Growth

Photo Courtesy of Kirk Tanner; Graphic by Fortune

Leadership

Kirk Tanner explains why customer actions—not words—drive business, the leadership lessons behind Wendy’s growth, and how the company is evolving for a new era. 

Brian Cornell, Chairman and CEO, Target Corp.
Steven Williams, Chief Executive Officer, PepsiCo Foods North America
In conversation with: Diane Brady, Fortune

Fortune Global Forum 2024: Connecting Culture and Performance

Conferences

Ram Krishnan, CEO of PepsiCo North America, has been with the company for over 18 years, starting his journey at the Detroit office and moving through leadership roles across Dallas, Shanghai, and New York. In a conversation with Fortune, Krishnan shares insights on leadership, career longevity, and what it takes to elevate your professional growth to the next level.

Why I Make a Pie Chart of My Waking Hours

Ram Krishnan, CEO of PepsiCo North America, shares his path to success, leadership advice, and why CEOs need mentors.

Everyone worries about getting the next job or the next promotion. You should worry about how to do the next job before you get the job. That was the best piece of career advice I ever got when you get the next job, people don't realize the clock starts right then and there, right, you at that point, you own the past, the present and the future. This is a series where we're looking at exploring the strategies and the mindsets of elite athletes and executive professionals to try to draw parallels between them and, and see what we can learn from, from each discipline. You know, we want to drive people to excellence both on the field in the boardroom or whatever, whatever, whatever your um specialism is. You know, you've had a fantastic career uh across, um you know, General Motors and Cadillac. And I think you've done plus over 18 years with Pepsico, you've been a leader in many different divisions. Um You've traveled from Shanghai to New York now. I think you, you started in Detroit, um went to Dallas, that's to an outsider, a very successful career. Um And a very exciting career. What would you say is your proudest achievement throughout that or in life? Yeah. No, it's a great question. If I were to reflect back, you know, I have after many years of going through this career, I came up with a purpose statement, right? What, what motivates me for me. Uh What motivates me is I aspire to learn, solve complex problems, transform a business, uh inspire talent through uh authentic leadership, leave a legacy. So there are a couple of instances in my career when I checked all those boxes, but not, not every year. So I think for me, an achievement is when all of those things line up and you have an opportunity to, you know, actually leave a legacy and an impact. So I think that's, that's kind of how I would look at it. Yeah, I had a couple of moments like that, any specific ones, uh I mean, I would say, you know, the assignment in Asia Pacific when I was uh based out of Shanghai, you know, was uh was a fantastic opportunity. Uh because it, we by the time we got done as a team, it was a complex problem because the growth um had moved from a portion of China which was east and south to much more central and west. And you had to figure out how do you redo the go to market? How do you redo the manufacturing footprint? What is your ambition? Because we had to reset our ambition because initially we were like, oh, we're growing as fast as a multinational. Well, are you growing as fast as the local Chinese manufacturer? Um and then a talent uh historically, we've been very much uh expat uh managed talent for us by the time we left, it was managed by the local talent. So, and then you think about the legacy and impact, you have amazing talent who are running the portion of the business. Uh the business has accelerated uh and it's done. So, you know, after whatever, 58 years since I left, so I think that to me checks out all the boxes that I talked about. So, yeah, so we had a couple of instances of having done that. And when was the first time you actually personally considered yourself a success, whether that's uh you know, education or professional or home, whatever it is. I don't know, I, you know, I success, it's kind of an interesting word. I personally have, you know, I got a healthy amount of discontent. I don't think I um look back on past achievements and reflect on it too much. I think that for me, what motivates me is it's about the uh the kind of the next challenge, the next learning. Uh Maybe one of these days I'll uh you know, we'll call it a day and retire and reflect. But I don't know. In fact, I would say I'm still trying to get better every day. So I don't know whether I would say there's one thing I said, yeah. Do you think people should celebrate the success more? Do you think people should take? I do, I do get advice from my wife especially to say that you need to, I don't know, I personally feel if you do that. Uh I just feel your motivation changes, right? You're um I don't know whether you're hungry enough. Uh whether you think you uh achieved uh the the peak of what you're trying to do. So personally, it worries me when, when you spend too much time celebrating uh kind of your achievements or rather look forward. You know, in fact, if you think about the definition of achievement, it's always interesting definition of achievement is you've completed a task. And when you completed a task, basically, you get the freedom to kind of move on to the next step and you start the next task. That's kind of how at least I looked at it. Fair enough. Everyone's got their own decoration and their own, their own views. So, um it's interesting to hear um and when you, when you are trying to achieve your goals and reach those, those, you know, benchmarks, what, what are your key nonnegotiable behaviors that, that you adopt that you take into those tasks. You know, I think maybe a couple of things that have sowed me. Well, one being in the moment, right? Which is easy thing to be said. But done. Meaning for example, I don't multitask when I'm in a meeting, even if it's like, I just finished a whole day of meeting. I don't multitask. I'm in the moment when I'm in a conversation, I'm not thinking about the next thing I'm gonna do, I'm talking to the person listening. So I think that is probably one, the second thing is consistency, uh is the notion of, you know, it's tough, like uh as executives, you go through a bunch of meetings throughout the day. How consistent are you in all of this meeting? I'm one of those people who have trained myself that every time there's a meeting and there's a pre read, I've actually gone through it formed a hypothesis. I come in for an engaged dialogue to do that consistently. Every single meeting. I think that's important and also consistently on how you uh interact with people just to make sure because, you know, for them, that might be the only interaction they have with you for the whole year. How you're consistent. Third is authenticity, right? Like I think really being true to yourself and who you are as a leader and, and that's how you deal with people. And I think people appreciate that. Like, how are you an authentic leader? And do you have any habits or rituals or anchors? I think a lot of people refer to them all that, that, that, that keep you going and, and keep that consistency or to help you keep those nonnegotiable behaviors flowing. Yeah. No, a couple of them. And I mean, these are all things that you develop over the years. Right. I don't think I started my career with these things, but if someone could start my career 10 years, well, first is making sure you're intentional about how you use your time. I think that's probably the biggest advice I would give people when they are starting off their career. Um I for an example, uh color code, my time management, right? So I have four or five buckets about how I manage time every other month we audit and see how am I spending my time and do I need to? Of course, correct. So it's a very intentional thing because I remember reading, I think this average human lifespan is 4000 weeks. And so being, I think since then I've been super intentional about how I manage time. So I think that's one uh second is, um how are you deliberate about learning? Um It's one of those things that always falls to the wayside, right? Busy life gets to you, but very deliberate. Like I usually buy Christmas time. I plan on what is it? There are a couple of topics I'm going to learn about the next year and, and again, I would qualify that this is not surface learning because, you know, you're on a device you get used to exposed to so many different topics. So it's kind of deep learning. Like I picked these two topics and I'm doing that for a stretch of 12 weeks and that's all I'm doing. So, I think the intentional about, uh, learning, uh, third is reflection. I think one of the, at least by nature, I'm an introvert. Um, so I, uh, I write and it helps me do two things. One, when I write, I reflect two, it also makes me intentional about learning because I'm usually researching about a topic when I write. So I think that helps. Um, so I think those would be, uh, maybe the last one, is this notion of, um, after action review, which is like, hey, you did something, did it work? Not work because sometimes you go on to the next thing without being deliberate about what didn't work. I think it came from the US army and that served me well, is doing a turn of what worked, what didn't work, what are we going to do different? So, maybe those would be the ones. The time is a, is a fascinating one because, uh, when you break it down, like you said, into a lifespan, it, it starts getting a little, probably scary. Um, what can you tell us what your color codes are? Yeah. No, happy to. So I have five buckets. One is, um, you know, basically running the business which is delivering day to day results like the second is people and culture, right? How much time am I spending in that? Third is long term strategy, right? And that's kind of the business side of it. Fourth is learning, as I said, you got to be deliberate about and fifth, which is something else. It's come with age and maturity is relationship, right? Really investing, whether it's friends or family being purposeful because even if you don't prioritize that that gets away, you wake up. So, so those would be kind of the five buckets that I color code. And there's a pie chart that I look at um engineered by trade. So, and then I uh you know, I uh audit and we course correct. That's really interesting. And, and is it evens splay or do you aim for an even splay? No, because it depends on the, uh you know, kind of the uh the life stage of that particular business cycle or your personal life stage. I don't think you're gonna get the perfect 2020 20%. I think what you want to be is aware of. Oh, I didn't realize the last couple of months is how I spent my time. Do I need to course, correct. So it's more about by the end of the year, how do you hopefully get to a healthy balance versus a, in a given period of time? You're trying to split it up even? Right? It depends on the business rhythm you know, and everything else going on now, I'm sure, you know, throughout your career, you've been, you know, you worked in many places, um worn many hats. Have you ever had a mentor specifically that, that has, that has helped you that you've looked up to and, and taken advice from? Totally. I personally believe, I personally believe what drives one's success is having mentors throughout their career. Um I have been incredibly blessed uh to have had mentors. I think almost through my entire all the different stages of career. And by the way, this is one learning I would share. I remember when I first got started, I used to think, well, mentors are when you are initially learning and growing your career, I would actually argue you actually need more mentors. The higher up you go up in the organization because mentors provide you with perspective because they, because you always find higher, you are on the top, the bad news travels fast and you're the last person to get to know. So you want to have perspective um coming from wisdom of people who have been there, done that. You know, everyone likes to think I'm the first one doing a certain task. And truth is that many people before you have done it. And there's so much you can learn uh getting their perspective and also sharing kind of how you're thinking about solving a problem and how they would approach it. So, no, for for a fact. Personally, I think I'm here today because of some amazing mentors I've had throughout my career. I'm sure you had a lot of great advice. But can you think of, um, the best advice or, or, or advice that has really stood out to you that you still keep with you to this day? I think the best advice I ever got was, uh, I remember someone saying, uh, everyone worries about getting the next job or the next promotion, you should worry about how to do the next job before you get the job. I was the best piece of career advice I ever got because for me, it's interesting when you get the next job, people don't realize the clock starts right then and there, right? You own at that point, you own the past, the present and the future. You're not like, oh, you know, the other guy did this other person did this, right? So I think, and imagine, and if you actually have, are a little more deliberate thinking about that next role, how you would do it learning from people who are doing it now, what do they do? Well, what do they not do? Well, it's such an incredible opportunity and you just don't have the uh time to reflect when you are in the role. So I, I thought that was probably the best and also that was the best piece of advice for me because one thing is I think it reframed how I approach roles. I I approached roles as this is my last job. This is my last job at the company. Alright. It's not about, you know, using this job to get to the next job. It is about this job and you know, what am I going to do there? That's good advice. And in terms of um in terms of leadership, what what do you consider the most successful traits of good leaders, either leaders that you work with or traits that you try to um project yourself? What are the most successful ones from? For, for leadership? Do you think I would tell you two things, right? I'll learn one. So, I mean, personally, I would say it's self-awareness and humility uh gives you the right to lead people and they're both equally important self awareness, really being aware of. What is your strength and more importantly, what's your opportunity? How are you going to complement that with team members who could bring their strength to it and also being self-aware about what your perception of self is and how do people perceive you? Sometimes there's a gap, right? So I think the self awareness is a big, big area. And the other thing is the humility. I mean, it's such an understated thing. But the fact of the matter is when you're humble, you listen, you learn, you reflect and then you act and I think those two things are probably in all of the best leaders, I've seen variations of those two qualities and that's something, you know, I aspire for and has anyone's career particularly inspired you in your own journey, not necessarily just within Pepsi, but in, in the wider industry or someone outside of your industry, perhaps that you looked at and thought, you know, that's, that's the kind of executive or the kind of leader that I want to be. Well, you know, first, I've been incredibly blessed to growing up here in Pepsico, we had a, it's known as an academic leadership company and we've, you know, created amazing leaders. Um you know, I personally don't look at somebody's career and say, hey, that's something I want to emulate. I personally look for, hey, are there qualities or impact this person has driven that, that I can aspire that I aspire for or, and this could be impact within, within the context of, you know, the company that they work at, but it could be impact within the broader ecosystem of, of an industry or um you know, just personal impact on causes of, you know, things. So I don't know whether I always, because I, you know, the other thing you find managing your career, I think we talked, started talking about this when you made a reference to one of my friends, you can plan everything. OK. Right. But the career, there's a lot of things that happens by chance. So I'm not sure. Um, you can say, hey, that's a career I want to emulate. Right. It's gonna, so I would rather focus on what is it about that particular person that left and legacy and impact that I would want to emulate? You know, you don't get as high as, as, as you've done and been as successful as you've been without making mistakes. And that's something that everyone has to deal with, you know, regardless of their rank or, or how long they've been doing their job. Um How do you deal with mistakes because it's something you know, I say happens to everyone. How do you deal with them? How do you move past them? You know, as you said, Massimo, I think uh for you to learn and grow, you do need to make some mistakes. Um And, and also one of the things I'm, I'm a big believer, especially when you're trying to make transformative moves is to experiment. And by definition, you're gonna make mistakes when you experiment. One of the things uh you have to, I learned at least is being uh what I call this notion of purposeful experimentation, meaning I have a clear objective. If the experiment is a success, I know how to scale it. If I were to fail. I know exactly how I'm going to apply it. So I think that's one notion. The second thing I think I talked about before, which is the notion of after action review which is like, hey, it didn't work. Why did it not work? What is it that I can learn from that we would apply the next time around? Uh I mean, outside of that, I think on the mistake, the biggest thing is, I mean, one is obviously being self critical and being objective about judging the mistake you made. But then, then also being incredibly generous and empathetic with the team because that's the part that you have to balance. Because if you are, if you don't reflect those qualities, then they're never going to experiment, they're gonna just do what uh what was done before and we will never transform. So it's one of those things that you have to balance out and what do you feel matters way less than you thought it was. So when you're a younger man, what, what do you know now that matters way less than, than you anticipate that it would, I would tell you job titles matter less at the end of the day. Um You rent it for a while. Uh They don't drive who you are as a person or your identity. I think that's probably again, one of those learnings which comes with age and maturity also easy for a CEO to say, oh, don't worry about it guys. Yeah. Yeah. Um And this is, this is a more of a philosophical one. But what one change could you make today? That would have the most positive impact on, on your life going forward, either personally or professionally. Um You know, it's interesting in most cases, I find your towering strength is always an area of opportunity, right? We all lean into it, right? For me, I think you mentioned it before pausing to celebrate. Uh enjoying the moment I think would probably make me more of a contented person and I think it also would reflect on other team members. I I think for sure, I think that's something I need to work on. Uh second could be this ratio that I talked about with time management as much as I try to balance that, you know, some years or not it gets out of whack. And I wish I could be even more purposeful in managing that ratio. Right. So those would probably be good changes to make and they would definitely be positive. Maybe, hopefully. Anyway, I think that's it. Thanks so much. Thank you. Appreciate it.

Pat Geraghty, President/CEO Guidewell, Jeff Tarr, CEO, Skillsoft, Terry Rasmussen, President/CEO Thrivent, Glenn Fogel CEO and Director, Booking Holdings, Roberto Martinez, President, PepsiCo Mexico Foods

The Exponential Power Of Generative AI In Business Part 2

Uncategorized

How AI's Reshaping the Business Landscape

Pat Geraghty, CEO Guidewell, Jeff Tarr, Skillsoft, Terry Rasmussen, Glenn Fogel, Booking Holdings, Roberto Martinez, PepsiCo Mexico Foods

How are you thinking about incorporating this into your programs? Well, we're focused on corporate learning learning inside the enterprise a little different than Shag's model and we've been using A I for a long time. Generative A I a less long time, but we've been at it since before. It made the news. We believe that it is going to impact almost every knowledge worker job to some extent. And so that creates a tremendous imperative for reskilling and up skilling. And so it's changing what we teach and it's also changing how we teach. And when I say what we teach, when you look at learning inside the enterprise, most of it falls in the three buckets, leadership and business skills, technology training and compliance. And all three categories are being impacted because learners need to understand it and their employers need, need their employees to understand it. Our introduction to a generative Generative A I course had was four times at four times. The enrollment of the next most popular course of all time for us. Our new course and new learning journeys on prompt engineering, advanced prompt engineering, uh ethical A I generative A I for decision makers and leaders are are of great interest and generating a tremendous amount of, of usage. Um And in fact, just about every course we developed going forward, we're, we're actually asking before we begin production on a course is generative A I uh relevant to this subject area and making sure we hit pause before we move forward so that we're not missing an important new technology. As for how we teach, it's already being used to accelerate localization and translation because it's not just about the words, but it's also about giving it cultural context. And now we can do that for the first time using machine learning, using this gene A I technology. Uh We've been be testing a generative A I coach that is walking learners through actual virtual simulations. Now, a lot of the work we're doing is on guard rails and filters to make sure that we're looking out for bias and inaccuracies. But we can do that in our controlled environment. And we're uh we're about to move into a beta test with more than 50 large enterprise customers. And uh and then also I would say finally, uh we see the technology is having great promise for what's been the holy grail of online learning and learning in general, which is personalized learning at scale that adapts both the both the content and the assessments adapt to the needs and learning styles of the individual and we're not there yet. But this is turbo charging work in that direction and we're really excited about what we're seeing. Yeah, fascinating. Uh Terry Rasmussen, maybe you can uh comment on, on what's happening in the financial world. Happy to um let's see here. Hold on. So in, in financial services, I do believe that generative A I is a powerful tool and it has the potential to, to really transform, I think every business um in, you know, out there in financial services, I think the best use case for thriving is with our financial advisors and it can be used to, it's that co-pilot concept where it can be used to, to, to free their time and so that they can spend more time serving clients and giving great experiences. That's right. And we kind of think of um our advisors as being experts in head math and heart math and in head math, I think generative A I has just a huge potential to have offer that personalized plan if you will. But then it's our advisors that come with the heart mass and, and I think it will be years before generative A I can replace the heart mass because the heart mask doesn't always align with head mask. And so in heart mass, it's really what's the most important uh for this individual or this client that we're serving. And so I see it as, as again, an opportunity to really come alongside our advisors and, and as a copilot. Yeah. And Terry, how are you thinking about the issue of transparency when you're, when you're using the technology? Are you quick to tell the, that your customers that you're using it? Is that an important part of the trust equation? Oh, absolutely. You know, we, we own trust in the marketplace and financial services and so transparency is really critical for us and, and, you know, we, we just recently rolled out guidelines for the organization um similar to, to make sure that, you know, the use um that our use is appropriate. And so we've got kind of four guidelines at a high level. Uh first you went and out, leave it out. And so that really is the proprietary information, making sure that, you know, we're, we're sensitive to that and we are retraining. I agree. I think it was Chris who said that, you know, this, you should always protect your proprietary information, but it's, it's good to remind people of that. Um We also believe trust is earned and not implied. And so again, you owning trust in the marketplace, it's critically important that, that we earn that trust and continue to earn that trust. Um and then scan and review before you use. Uh that is something that we're, we're telling our workforce, make sure that you're understanding the use. And then always remember our trusted reputation. It's the most important asset we have in the marketplace is that trusted reputation. Yeah, thank you uh uh Glen Vogel II. I know you've been using A I for a long time in your bookings business, but generative A I is a different animal. Uh uh where, where, where do you see that playing into your business? Well, what it is doing or what it will do is get us much closer to what our vision is of what I call the connected trip. We all know frustrating is to plan your travels. And we all remember the old style old school travel agent who is a human being, knew something about you knew kind of what you could afford. We do it all for you and everybody when you are putting together your travel now using a digital method, it is frustrating. It takes forever. I wish somebody else would do it for me. Well, that's what Geneva is basically going to do. You're gonna have that conversation again. Always. It's gonna be with an A I agent and it's going to personalize as was pointed out earlier. How important is the personalization really being the focus on an individual what they may like? And I can give a little example of every single um search result shows static content in travel. That is the same for everybody. I have to like going to a gym. I want a hotel as a gym. My wife likes high tea in London. Imagine that when it is going through the process of what we're trying to discover it is customizing the content describing which hotels have these things for my wife and I versus somebody else who's interested in something else. We'll see different content that's really going to be something fantastic. And then of course, men, customer service, we all know the frustration of customer service. It's very difficult generative A I is going to improve this hugely, being able to know what the problems are possibly seeing what they may be before they happen and being able to respond much faster than we currently are able to do, which would be wonderful. And how quickly are you implementing Glenn? So we have two check T BT plugins. We have kayak an open table are already, that's how that's in the wild right now. Um We are, you know, moving methodically and carefully want to do everything in a responsible way and of course, that trust issue in the financial area, certainly true. But it is also important in travel. Nobody wants their travels screwed up. So we have to be very careful in that to make sure that we don't ruin the trust that we've built over many, many, many years. Um Roberto Martinez, can I bring you into this conversation? Would love to. Yeah. Yes, of course. Good morning. Everybody would, would love to hear how it's uh uh there's been a lot of talk about the application of this technology and marketing, would love to hear about that or other applications that you think are promising. Yeah, in our case, uh I'm, I work for Pepsico in Mexico so that everybody knows who I am. Um in our case and, and what Joe said at the beginning of the conversation right now is more around. How do you make sure that we are uh secure in terms of the information that we use there and, and just be careful with the teams on, on what they put out there. A couple of things. You know, we, we think this obviously will, will help us be more efficient, reduce costs and obviously be closer to our consumers and our customers. Um Some of the things that we're looking at is, you know, um product development and new flavors, a new propositions to the consumer, but also using it in our case, um uh specifically for more things around the sales cycle. Um in terms of, you know, we have a lot of mom and pop stores that we serve in Mexico, about 800,000 stores we serve uh here. So how do we, you know, make sure uh that we can have the right assortment, uh the right velocities, what is selling here, what is not selling here and then build that into an E I engine so that we can um a little bit, you know, have a, a better, better service to the customer, better service to our, to our sale sales rep. Um The other part is I would say is, um you know, as I, as I said before, connecting to the consumer, that's a little bit, you know, just starting. So not, not out of there. And then, you know, as somebody said before, we wanna make sure that we're responsible, how we use this and our teams are responsible and how we're using this. So a little bit of latitude but within a framework, uh just because we've, we've also seen some examples of other companies just, you know, don't have. Uh and we're all starting to build, let's say internal policies if you want, but just making sure that our teams uh do not put, you know, um you know, uh confidential information out there because then it's, it's already out there. So that's a little bit of the, the conversation right now in inside of principle.

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