On AI: Ruth Porat, president and chief investment officer of Google and Alphabet, brought a pragmatic optimism to a conversation dominated by guys who don’t get out much. Porat represents one of the biggest players in the AI race and told Fortune editor-in-chief Alyson Shontell that Alphabet will spend about $200 billion this year to build out capacity and even more in 2027, saying “we do see this as an opportunity that extends for quite some time.”

But Porat, who’s No. 11 on this year’s Fortune Most Powerful Women list, is more Main Street than Silicon Valley when it comes to AI’s impact. One reason may be that she came to Google in 2015 from Wall Street, bringing rigor, transparency, and discipline to a company that had moved beyond search and advertising into sprawling bets on robots, autonomous vehicles, solar-powered drones, wearables, and a bunch of other stuff. 

She talked about investing in skilled trades, energy capacity, and trust around AI. As she told the MPW audience: “If we don’t collectively fortify the downside risk (of AI), we will not have the opportunity to capture the upside.”

On wealth: About $124 trillion in wealth is set to be passed down by 2048, with much of that money going to women, from both their partners and their parents. I spoke with three leaders about how those trends are shaping philanthropy, investing, entrepreneurship, and overall spending. 

Yet, as Deloitte U.S. federal health sector leader Beth Meagher pointed out, the opportunities from this shift risk getting lost amid our focus on frontier models and geopolitics. “This shift is something that I think we have a tremendous opportunity to lead from the front of,” she said.

Morgan Stanley managing director Seema Hingorani sees the opportunity, too. She created a nonprofit called Girls Who Invest to get more women in the industry; Morgan Stanley also has an incubator for women starting tech businesses. 

Carmen James Randolph, CEO of the Women’s Foundation of the South, is working with a new generation of philanthropists who want their dollars to solve tangible problems, like improving maternal healthcare in areas where doctors and clinics are scarce. 

On leadership: Women have outpaced men in getting college and graduate degrees since the mid-1990s. While they lag in some STEM subjects, what holds many back is not skills but opportunity, desire, and other factors. As my colleague Claire Zillman discussed with a group of leaders yesterday, the rate of women being promoted into senior executive roles is slowing down.

Some of the challenges are personal. As Hayden Brown, president and CEO of freelance marketplace platform Upwork, told Zillman: “I grew up in the most pro-women household, and yet it took our board chair, probably 10 years ago, to say to me, ‘You should be a CEO.’ And I was like, ‘Really?’”

Other challenges are not unique to women. Centene CEO Sarah London talked to Sheryl Estrada about working to increase the healthcare experience for Medicaid and Medicare consumers, who are often are first to experience the challenges of higher costs in this country and last to experience the benefits of  technological innovation.

What keeps her inspired are the opportunities. “I came to Centene because I actually fundamentally believed that healthcare was at a much-needed inflection point relative to technology advancement and digitization,” she said. “I wanted to be a part of that.” She feels the opportunities are poised to grow.

Join us via the livestream for more conversations from the front lines today.

Contact CEO Daily via Diane Brady at diane.brady@fortune.com

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McKinsey says half of U.S. work hours could be automated by 2035

Automation could account for more than half of U.S. work hours by 2035, according to McKinsey, with office and administrative roles especially exposed. Yet the report highlights a bigger challenge for employers: helping workers develop the skills they’ll need as their jobs change.

LinkedIn tests a program to teach people how to start a business

LinkedIn is testing a free, 14-week program to teach people how to start and run a business, starting with 30 of its own employees. Participants use simulations to practice pitching investors, hiring staff, and handling PR crises.

Delta CEO says airfares could stay high even if fuel prices fall

Delta CEO Ed Bastian says ticket prices could remain high even if fuel costs fall, as long as travelers keep paying them. Strong demand has helped the airline cover higher fuel bills, though it still lowered its full-year profit forecast last week.

The markets

S&P 500 futures are flat this morning. The last session closed down 0.6%. Japan’s Nikkei 225 fell 1.8% after a long weekend. South Korea’s KOSPI fell 5.5%, extending yesterday’s losses. Hong Kong’s Hang Seng Index is up 0.3%, while Taiwan’s TAIEX dropped 2.0%. Korean chipmaker SK Hynix dropped over 10.0%; Softbank plunged 8.5%. India’s NIFTY 50 is currently up 1.3%, the STOXX Europe 600 is up 0.5% in early trading. Bitcoin is hovering around $84,000.

Around the watercooler

‘The norm will be to trade with agents’: Crypto founders learn to love—and fear—AI by Angelica Ang

Dario Strangelove, or: How I Learned to Stop Worrying and Love the AI Bomb by Nick Lichtenberg

Satya Nadella went from H-1B worker to Microsoft CEO. The Trump administration just shut that path for his employees by Andrew McGowan

Election odds are coming to your TV this fall. 60% of Americans oppose betting on elections by Tatiana Sataua

Today's edition of CEO Daily was curated and edited by Joseph Abrams, Jason Ma, Nicholas Gordon, and Lee Clifford.