Snap-on

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.

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Industries included in the sector are electrical equipment and industrial machinery.

Fortune Sector Leaders: Industrials

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

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

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

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

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

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

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

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

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

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

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Snap-on (SNA): Company Profile, Stock Price, News, Rankings

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Elite leadership isn’t just about vision—it’s about action, resilience, and the relentless pursuit of growth. At Fortune’s exclusive Fuel Up With Fortune panel in Cannes, Snap Inc. EMEA President Ronan Harris and Mars Wrigley North America President Anton Vincent share their top leadership learnings and what truly sets outperformers apart.

Elite Leadership: Unlocking Growth at the Top

Elite Leadership: Unlocking Growth at the Top Pannel at Cannes

Conferences

At the Fuel Up With Fortune panel in Cannes, Snap Inc. EMEA President Ronan Harris and Mars Wrigley North America President Anton Vincent share their top leadership learnings.

Brian COX, Director of Gameplay Engineering, Inworld AI Dian GUAN, Co-founder and General Manager, Asia Pacific, Patsnap Donn KOH, Co-founder and Design Partner, Stuck Design Hanyi LEE, Founder & Creative Partner, Anak Moderator: Ellie AUSTIN, FORTUNE

Brainstorm AI Singapore 2024: How AI will impact human creativity

Brian COX, Inworld AI, Dian GUAN, Asia Pacific, Patsnap, Donn KOH, Stuck Design Hanyi LEE, Anak Moderator: Ellie AUSTIN, FORTUNE

Hello, everyone. Welcome to the stage. Thank you so much for joining us. So this is the only session um at the conference that we're dedicating to the creative industry. So there's a lot to discuss and Brian, I want to start with you. It's a really simple question. Can you explain the most significant way in which A I is revolutionizing gaming? Uh Sure. So at Enro A I, we provide A I models and microservices for game developers to add all kinds of A INP CS gameplay features and content generations. OK. Um We'll come back to some of that in a second because you showed me a very cool video before we came on stage of you kind of explaining a world that you wanted to be created and A I simultaneously creating that world in a lot of detail. So, so there's a lot to discuss there. Dean that snap is a global leader in A I powered IP and R and D Innovation Intelligence. You work with companies and organizations like NASA Tesla Disney, huge organizations. How are you working with these brands and A I on a day to day basis? How is A I impacting the way that you're working with these organizations. The pa specialize in providing uh smart data and intelligence for R and D research and development professionals throughout the R and D life cycle all the way from ideation to discovery development to commercialization. Um So if you think about R and D, it's much, much more than the eureka moment of a genius guy coming out with a brilliant idea. It's actually a lot of tedious and very long process. For drug discovery example, it takes more than 10 years to develop a new drug. A lot of data collection searching, trying to synthesize the data fighting patterns and eventually come to the product that works. So pass snap build our own large language model and also a lot of small models trained on the special data set patents, academic journals and papers. So our model is like a very specialized GP T we understand R and D professional much better. OK. Dawn Let's come on to you. So ST design is a design and innovation consultancy and I believe that stuck has developed its own A I tool called hyper sketch. Why was it important to you to develop your own tool rather than use one that's already on the market for us? Uh Hyper sketch was a reaction to the A I tools out there which I think are often very much focused on trying to get the best quality of output um using the best data. But, but for us, we needed something that would amplify creativity and, and sometimes in that space, bad data actually is the best data because we are trying to get the unlikely things that surprises us and the things that haven't been good answers of yesterday. So for the main reason, we do hyper sketch as a way to amplify our work. And can you very briefly explain to us what hyper sketch does how, how you leverage it to improve your work with your clients? Oh, sure. If you take a simple doodle, half a doodle, maybe because you have half an idea with all the prompts, you could just get it to say, make some products for me and you will see in high fidelity pretty soon in a matter of seconds. So that gives you something to bounce back with like almost like a brainstorming companion. Fascinating. OK, honey, let's come on to you. So you're the founder, creative partners I mentioned of an app which is a global design company that works with the likes of Netflix Apple Bany entry. And what I'm interested in is at what stage are you using A I in the creative process when you're doing work for these massive organizations? Um I mean, we tend to break our process into three stages, the conceptualization stage, the exploratory mock stage and the execution stage for us. The middle portion of the exploratory I guess mocking stage, that's when A I has been amazing. It has variants, it has depth, it gives you, I guess a lot of opportunities and possibilities. Um But definitely not the first nor the last. And OK, so why not the first or the last, I guess? I mean, our bread and butter is ideas. Um So I guess for us if you replicate A, I, I mean, if you use A I for the first or the last, you're just going to get the instant artificial sameness and blend this, which is, I guess the worry that most people have with A I in general. And yet if you use it in step two, what does it enable you to do? And how does it accelerate your work potentially? I mean, if you're like a two man design shop, you can pretend that you're 100 men strong or you can pretend that, you know, you know, knowledge about, I don't know B house or you know, I mean, something that I have no clue about. So it allows you to pretend to be other people. It allows you to be transported, transporters, allows you to be many places at once. So I think that's really the beauty of it, Brian. I, I want to come back to you on the subject of guard rails and, and so, you know, if you are to create, as we were discussing earlier, a whole new world in gaming, how do you make sure that that A I doesn't go rogue and maybe the characters don't start talking about things you don't want them to talk about or doing things that are dangerous and not something you'd want the players to replicate. Yes. So we allow our clients to first choose which A I model they want to use either the publicly available ones or our own. And then we also have safety filters and customers can choose which filters they want to enable or disable. So for example, if you want to have a character that can talk about alcohol or politics, then you can enable that or you can also disable that so that they stay track of the topics that you allow them to talk about. Got it. OK. And I think at the moment, your A I models are, they're all focused on English language, but I believe that that's about to change. Do you want to tell us a bit more about that? Yes, that's right. As of today, we support multiple languages. So we support English simplified Chinese, Japanese and Korean. And we got some feedback from our partners LG plus and then to make sure this is culturally relevant to give a better experience to players in those regions. And why did you, my final question on this is why did you choose those languages? First of all, there are a lot of video game players based in, in China, Japan and Korea. And that's why we wanted to focus on those markets first. And that's also the, the regions that we received the most requests from like, hey, can you please support our language? And uh yeah, very excited about it. Do you see yourself broadening out to cover European languages more in the future? Is there something that's going to keep rolling? I can't make that promise yet, but I believe we will. Ok, great. Um I do want to open up the questions at some point. So please bear that in mind. And if there's anything you'd like to ask our panelists get thinking about it, um I want to go to you, Dan and I know you don't think of yourself necessarily as a creative, but you're someone who enables creatives to do to do the work um that they want to do. What's your, we, we've spoken about some of the massive possibilities of A I but, but what's your fear as we start to integrate these models into the creative process? What's keeping you up at night? And how do you think your fellow CRE your creative here should be solving for it? Well, for our case, uh you're right that we enable creative. So R and D is a very classic form of the changing, I mean, converting human creativity into new inventions and new products that benefit of us. So from our perspective, I don't see as, as a, as a uh a problem is more on the positive side when we observe how our customers embrace A I I think first of all, our customer who are the research and developers by nature, they are curious people. So they are one among the first in the organization to embrace A I and in R and D space, we already see so many success cases already. Just take one example, maybe some audience already know um in terms of drug discovery, as example, it takes 10 years, more than a billion dollars, even a new drug. And it's a very, very tedious process. And one very important step is to identify the 3d structure of A molecule. Without that, you cannot develop any drug that can cure the disease. And this used to take a very well trained professional few months at least or even years to decode one particular molecule. But deep deep mines, Alpha Pho managed to solve this very difficult problem by using A I to analyze the patterns and recognize the patterns so that significantly transform the entire industry. So we see more and more use cases where clearly R and D people see the benefit rather than the problems of using A. But of course, one risk is once this repetitive task being done by A I because the R and D process, even though it's creative, there's a lot of non creative tasks. For example, running the experiments repetitively collecting data, analyzing the data. So about one third to a half of the employees in this uh R and D centric companies are doing those tasks once this is taken away by A I, what do these people do? It takes years of training to be a professional in any particular domain. So that's one potential risk that we have to address. And I want to continue with that subject and ask Don and Honey Don if you're, you know, a young person who wants to get into creative industries in this day and age, whether that's as a musician, a writer and artist, is it mandatory for now? Now for you to also understand generative A I coding? Because in a way, those quite technical mathematical skills are at odds with the traditional creative skills. So how do you balance those two sides? I don't think you have to technically operate it, but you need to have some literacy with which these systems behave because you want to use it to get better results than what the system is giving you and everyone has the same tools. So you've got to kind of understand how to use it. Well, to get a result that is firstly more competitive than what the system gives you directly and also better than what others are doing with it. So, so that that is the core thing. I think, I, I don't think we need all to become A I scientists or you know. Yeah. OK. You need to have literacy in it but you don't need to be executing it yourself? Yeah. Ok. Um, honey, so last year a group of authors including George RR Martin filed lawsuits against open A I, um, alleging that Chat GP T was trained on their original work without their consent. And so my question to you is what should creative companies be doing to ensure that they don't become the subject of legal action for wrongfully using original source material. I know that's a big question. Um, I think that, I mean, most of the times we've used it, it's mainly for commercial use for clients. So I think that's why like I mentioned before, it should be used mostly for exploring but in the execution stage, which is usually when I guess the usual copyright laws and I guess infringement come about, I think that's when it gets a bit tricky because I mean, if it's not created by some kind of human behind it, then there really is, you know what I mean? I guess no, no right towards that at all, John. Have you got anything you want to add to that? I mean, there's a lot of similarities, even though I think the legal debate is out there with me seeing something on the street and then accidentally using it in my design. In the end, we still have to kind of check that the final output. Like what honey has mentioned is not infringing on anything else that has already been done. So it's not very different from how we've operated innovation so far. OK. Are there any questions for any of the panelists? Um If uh Yes. Oh, fantastic. Let's go with this question here. But, and if you could just stand up when the microphone comes to you, uh I believe it's coming from here and say your name and the organization that you're from and then ask your question. Hi. My name is Lois. I'm from GOV Tech, also known as the Government technology Agency. So my question is actually um kind of thinking about this whole lawsuit thing in a different perspective. So can I interpret that the presence of such legal issues facing this A I based companies are actually an indication of valid profitability or a valid market such that it's not, it's not a bad news, right? In fact, if you look at it, it's an indication, it's a proof of viability. So, um I mean, recent news about perplexity, which is an A I company uh trying to get around this as well. Um What are your thought on on such seemingly negative news? Yeah, thank you. Who wants to take that? Um So um many of our partners and clients, they provide their own data so that solves this issue. So you can either use the existing area models and most of them will tell you what they're trained on or if you want to provide your own data set, then you can and then you can ensure that all the data that the A I is using uh is, is your own and then you can avoid lawsuits that way. OK? Anything. Y yes, you can ask a question and then there's another one that we're gonna come to you. If you just wait for the microphone, please so that we can hear you. It's just coming. Thank you. Hi, my name is Steve from Spark. So yesterday the grab I was saying that they are creating a lot of creatives through A I, right. They're personalizing it. So if they are say 1 million customers in Indonesia and each has a unique need and they read their pattern over a period of time how they are interacting with Grab, so they're able to personalize it. So now ads are getting created uh through A I. Secondly, accenture has an add on where they said, OK, let's make a creator which should appeal to people. So they picked up things which uh people like something like pets for kids and they incorporate all those things and give it to and they created ad and then they told a creative person to create an ad and then they tested both and the one created by A I got better. So how do you interpret that? How the industry, the creative industry, the TV ad industry is going to shape up with a coming into picture. Do you want to take that? I could take that? I would just say that. Uh, I don't know if everyone here feels the same way, but when I do work, if I feel lazy, I don't use a, I, yeah, it's, it's contrary to what a lot of people think. It's because when I, when I feel lazy or when I, when I do work and I involve a, I, I have now 1000 options to compete with and decide between. So when, when I'm kind of like feeling too tired, I'll just do something of my own and then submit it. Now, I don't think A I allows us to kind of get better work. In fact, the demand is there for us to do this explosion of A I and then either pick really, really well or I do it because you know that if you don't, if you just use that your competitor is going to do the same. So the market forces are going to force you to out innovate A I actually. Mhm um There was another question towards the back. Ok. Yeah, this one here, please. If we could just get a microphone. Thank you. Hi, my name is David from paypal. So I'm just interested in how this gaming industry is evolving. Given, you know, generative A I and I've read news about how certain companies have business models that are quite brutal, right? Really laying off half of the artists, especially those who are strong in two D art, right? You have trained for years only to be let go. And now using the company just uses ja I just keep the best artist there just to monitor the and, and you know, make them come up with graphics or add ons and stuff. So I want to seek your views on how this um you know, gen A I is impacting this workforce, right? And what are the solutions? And do you think it is ethical for, you know, some of the managers and the top horns in these companies to lay off all these 22 D artists? Yeah, great question. So the way I see it is using Inworld, we don't replace people, we use in worlds as a tool to help creatives reach their goal. So for example, if you're a narrative designer and you're creating a character before you had to write every line, the character would say now what you have to do using our, our tool is you set up the character's personality, backstory, emotion, all these parameters, basically, you customize the character and then that character will speak using the personality that you've assigned to that character. And because they can give dynamic responses, now, you don't have to make a linear game, you can make story even even happen and all the characters will react naturally to it. So our tool doesn't uh risk the jobs of narrative designers. Instead it gives them more possibility to be creative rather than change rather than writing the individual lines, they now have to create the entire personality of the characters and then let the characters uh speak naturally. Does that answer your question? Yeah. OK. OK. Um That, OK. We can do one more, very quick question, please. And then uh if we can get the mic very quickly and then a very brief answer. I'm April Sander, who I'm from Sando education. My question is simple is how do you feel about the future with A I to create less uh individualized atomized individuals? Will it actually increase greater communication amongst people and truly reflect greater creativity and culture of people as people, as, as community, as, as as humankind? So how will that impact human interaction essentially? And he says, honey, do you want to take that very quickly? Um maybe a slightly cynical view. But I mean, if you understand that the basis of A I is that it pulls from existing material that's in direct opposition to the pursuit of originality, which is what most creators are here to do. We don't want to copy. I mean, even if the even if we end up, you know what I mean, referencing the intent of originality is the aim. So I guess if you have that in mind as the basis or kind of a guard rail, then yeah, I think it will definitely help with communication in general and just, you know, speeding things up, but you should never replace it. Yeah. Brian Dean Don and honey, thank you so much for joining us. There's so much more to unpack, but we really appreciate you being here.

 Welcome to Fortune Tech Debate where we debate the issues of the day in two minutes. Today we're discussing Snapchat, whose next strategy is getting into original video programming. Lisa Marie, is this enough to save the company? Whose stock, by the way, is trading at near all time lows. Yeah. You know, I think it is. I think it's a really new and fresh idea. And it's a new way for its users to engage on the platform. It's going to be really exciting to see how it works. I totally disagree. I think this is going to be ruinous for Snapchat. You know, the company has totally mucked up its strategy over the past few months, starting with its redesign, you know, that Evan Spiegel, the CEO, is pushing. It was a total disaster. And, you know, look at some of the other stuff they've tried to do, releasing hardware, like spectacles where you can film your friends with goofy sunglasses. It's been an abject failure. And I think this is going to be the same thing. Yeah. Well, you know, that kind of just proves Snap is willing to try new things, which is really exciting. And you know, yeah, the redesign didn't work. So they started rolling it back a little bit. And you know, spectacles didn't take off. So they're moving on to something else. Isn't that what you want in a company? Innovation? Yeah, you definitely want innovation. But I mean, if you look at a company like Facebook's Instagram, Instagram has totally eaten Snapchat's lunch. You know, they moved in, copied Snapchat's feature. And now stories has more than doubled the daily active users that Snapchat does. And you know, that's something that Snapchat was-- that was it's like reason to be. That was its reason for existing, that kind of like short video clip thing. Now Snapchat's going to try and get into the game that Netflix and Hulu are playing in? You know, Netflix deploys $8 billion a year on original content. I really just don't see this working out. You know, it's interesting you mentioned Instagram. Since its founders just left, Facebook and Instagram aren't doing so great leadership wise. And you know, I don't know if Snap is really trying to be Instagram at this point. I think that they know their niche. They know that they're going after this gen z market. And they're doing what works for their audience. And I mean, in terms of Netflix, this isn't a Netflix thing. The videos, or episodes, they're going to be about five minutes long. It's vertical. Very different. They're trying their own thing. Well, if you're going to be an advertising business, you need scale. And I don't see them getting scale. Anyway, time is up. Come to coins2day.com for more tech debate. 

Snapchat Originals Will Not Save the Company's Failing Stock

Finance

The social media platform can't compete with titans like Netflix or Hulu.

Welcome to Fortune Activate were we debate the issues of the day in two minutes. Today we're discussing Snapshot. Who's next strategy is getting into original video programming. We three. Is this enough to save the company Whose stock, by the way, is trading at near all time lows? Yeah, you know, I think it is. I think it's a really new and fresh idea, and it's a new way for two users to engage on the platform. It's going to be really exciting to see how it works. I totally disagree. I think this is gonna be ruinous for Snapchat. Uh, you know, the company has totally mucked up its strategy over the past few months, starting with its redesigned. You know that Evan Spiegel, the CEO, is pushing. It was a total disaster. Andi, you know, look at some of the other stuff they tried to do, releasing hardware like spectacles where you can film your friends with goofy sunglasses. It's been an abject failure, and I think this is gonna be the same thing. Yeah, well, you know, that kind of just proof snap is willing to try new things, which is really exciting. And, you know, yet the redesign didn't work, so they started rolling it back a little bit. And, you know, spectacles didn't take off. So they're moving out. There's something else. Isn't that what you want in a company? Innovation? Yeah, You definitely want innovation. But, I mean, if you look at a company like in Facebook's into Instagram Instagram has totally eaten Snapchats lunch. You know, they moved in copy Snapchats feature. And now stories has more than doubled the daily active users that Snapchat uh and you know, that's something that snapshot was that was It's like reason to be That was reason for existing, that kind of like short video clip thing. Now Snapchat's gonna try and get into the game that Netflix and who are playing in Netflix, please. $8 billion a year on original content. I really just don't see this working out. You know, it's interesting you mention Instagram founders just left. Facebook and Instagram aren't doing so great leadership wise, and, you know, I don't know if it snap is really trying to be instagram at this point. I think that they know their niche. They know that they're going after this Gen Z market and they're doing what works for their audience. And, I mean, in terms of Netflix, this isn't a Netflix thing. The videos Aaron episodes are going to be about five minutes long. It's a vertical, very different. They're trying their own thing. Well, if we're gonna be in advertising business, you need scale, and I don't see them getting anyway. Time is up. Come to fortune dot com for more attractive, mate.

 Welcome to Fortune Tech Debate, where we debate the issues of the day in two minutes. Today, we're discussing major product redesigns from Google's Gmail and from Snapchat. Lisa Marie, what's changing with these products. And are people going to find these attractive and useful? Well, they're getting a total redesign. They're also getting some new security features that will really help people make sure that their emails on the right place. You'll also get some practical things in terms of deciding when you can actually deal with an email or helpful reminders if you need to respond to an email. I think people will really like it. It adds a lot of functionality to Gmail. I got to say, I think some of these features are a long time coming. A lot of other email clients have used some of these features before like the snooze feature. And another criticism that I might have or at least a concern or a worry is that it might lull people into a false sense of security about their email conversations. For instance, there's a confidential mode and it doesn't end-to-end encrypt your conversations with other people, so that might be confusing to an end-user. And also, the confidential mode, people can't copy you or print or download your conversation but they can still take a screenshot with their phone. But let's talk about Snapchat. Snapchat has undergone a redesign a few months ago, and that was subject to some criticism. What happened? Yeah, it was subject to a lot of criticism and they essentially moved your friends' stories away from influencers and companies in that discover section. A lot of celebrities spoke out against this, like Kylie Jenner, and a lot of people hated it. They really, really hated it. Now, it seems like they're walking back and trying to fix some of their errors. Yeah, so now they're saying that they're going to have some more of your friends' stuff in that discover page along with those influencers and companies that they tried to remove them from. So they're walking it back a little bit but not quite bringing them together again. Is this going to be enough to get people back on the platform? I know, I personally have stopped using Snapchat as much. I've been very confused every time I open the app recently. It might help but it's still not exactly what the people want, so I don't know if it will. Keep trying, Snapchat. Keep trying. Well, anyway, that's all we have time for. Come coins2day.com for more tech debate. 

Snapchat's Redesign Is Still Not What the People Want

Design

Gmail and Snapchat are getting major platform redesigns.

welcome the fortune tech debate were. We debate the issues of the day in two minutes. Today we're discussing major product redesigns from Google's Gmail and from Snapshot, Lisa Marie. What's changing with these products? And are people going to find these attractive, useful? Well, they're getting a total redesign. They are also getting some new security features that will really help people make sure that their email fall in the right place. You'll also get some practical things in terms of deciding when you can actually deal with an email or helpful reminders. If you need to respond to an email, I think people really like it has a lot of functionality. The email, You know, I gotta say I think some of these features are a long time coming. You know, a lot of other e mail clients have used some of these features before, like this news feature andan other criticism that I might have, or at least a concern, or worry that it might little people into a false sense of security about their email conversations. You know, for instance, there's the confidential mode on DDE. It doesn't end to end encryption conversations with other people so that might be confusing to an end user on Also, you know, the confidential mode. People can't copy your print or download your conversation, but they can still take a screenshot with their phone. But let's talk about snapshot. Snapshot has undergone a redesign a few months ago, and that was subject to some criticism. What happened? Yeah, subject to a lot of criticism, and they essentially moved to your friends stories away from influences and companies in that discover section, a lot of celebrities spoke out against this, like, kinda Jenner and a lot of people hated it. They really, really hated it. Now it seems like they're walking back and trying to fix some of their errors. Yeah, so now they're saying that they're going to have some more of your friends stuff in that discover page along with the influencers and cos they tried to remove them from, so they're walking it back a little bit, but not quite bringing them together again. This is gonna be enough to get people back on the platform. I know. I personally have stopped using much. I've been very confused every time I open the APP. Recently, it might help, but it's still not exactly what the people want, so I don't know if it will keep trying right. Well, anyway, that's all we have time for. Come to fortune dot com for more tech debate.

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