Note: This op-ed was previously published by Fortune on February 19, 2026.
Today’s CEOs could be the most consequential corporate leaders in American history. The decisions they make will go a long way to determining whether the most powerful technologies ever developed strengthen the foundations of American capitalism or undermine them. It’s not an exaggeration to say the stability of the modern socio-economic system on which markets and business depend is at stake. Fortunately, executives have access to greater magnitudes of data and computing power than ever before in order to get this transition right.
Two realities define the leadership challenge ahead. First, company leaders know they have no choice but to embrace new technologies fully, at speed and with unprecedented levels of investment in order to remain competitive. Second, they understand that the transition to an AI-powered economy will reverberate widely, reshaping jobs, income models, communities, and the role of business in society in ways that are very difficult to predict. We’re already seeing the decoupling of economic growth and labor outcomes begin to play out. What happens if the value of labor drops to effectively zero?
Technological disruptions have happened throughout history. The problem is that this time it is unfolding faster, on a grander scale, and with greater implications, than any before. Whereas previous technological leaps forward were measured in years, with agentic AI, automation, quantum computing, and humanoid robotics, the adaptation time has been compressed to months. This gives leaders little time to experiment, adjust, and course-correct. If they are perceived as being behind the curve or investing incorrectly, the consequences are swift and severe. For society, and those who govern, the transition is felt almost daily. When you have near zero adjustment time, it’s akin to flying blind.
The warning signs are visible in Just Capital’s research. In our latest polling, only 35% of Americans say the current form of capitalism is working for the average person. In our AI-specific surveys, 48% of the American public predict AI will replace workers and eliminate many jobs and a majority is most worried about AI’s impact on social stability and safety.
From my frequent conversations with global business leaders, they are acutely aware of the challenge. Concerns for the future of capitalism continue and recently, executives debated whether the greater threat to the economy and society is artificial intelligence or the continued concentration of wealth and opportunity.
No one is arguing against the need for technological progress. Breakthroughs in healthcare, education, productivity gains, and innovations we cannot yet imagine are now closer than ever. Some predict all of that may in fact create new jobs; others foresee a “blood bath”. Capturing the benefits of transformation while preserving broad participation in economic growth will take new approaches by leaders on how technology is deployed, how the gains and disruptions are managed, and how companies are structured and run.
Forward-thinking business leaders understand that at its core, our capitalist system is built on the shared belief that economic growth creates opportunity, that effort and participation are rewarded over time, and that when businesses create value for all their stakeholders, they thrive financially and competitively.
Putting this into practice is the trick. The era of stakeholder management defined by broad frameworks, generalized commitments, and aspirational language is over. For too many, stakeholder considerations became a compliance exercise that proved to be too imprecise to guide real tradeoffs, withstand scrutiny, or serve as a source of genuine strategic insight.
Today’s hyper-competitive business environment necessitates the opposite: precise, decision-grade data and intelligence rigorous enough to help leaders make higher-confidence choices about strategic planning, capital allocation, workforce design, community engagement, and technology deployment in real time. And all on a company-specific basis. A retailer trying to balance customer satisfaction, supply chain automation, and a frontline workforce has very different priorities than a software company competing for top AI talent while trying to evaluate their footprint on communities.
Understanding the causal relationships between stakeholder investments and core business outputs is central to this. Mapping performance against peers and best practices, identifying areas where operational or reputational risks may be lurking, and pinpointing unseen organizational strengths that can be maintained, elevated, and leveraged are also vital.
Above all, leaders must clearly understand how specific investments in talent, consumer engagement, community resilience, and environmental stewardship translate into total returns. That clarity will drive both business success and societal value creation. While AI raises the stakes for this work, it also makes it possible.
The future of American business and that of its people are inexorably intertwined. As the country approaches the 250th anniversary of its founding, it feels like the next three years will shape the next 3 generations at least.
