Good morning. While the jobs report tells you what happened last month, Maria Black can tell you what’s happening now. As CEO of ADP, she sits on real-time payroll data for one in six American workers and sees how AI is shaping employment across different occupations. Earlier this month, ADP teamed up with the Stanford Digital Economy Lab to provide a real-time public tracker, called the Canaries Dashboard, that shows up to 16% fewer jobs in AI-exposed sectors like software development since 2022 and fewer jobs for workers aged 22 to 25.

I spoke with Black yesterday about that disruption and how she’s managing it in her own workforce. She’s three and a half years into her tenure as ADP’s first female CEO and came in at No. 1 on Comparably’s 2025 ranking of top CEOs. Her company is listed as one of Fortune’s Sector Leaders, as well as on our list of the World’s Most Admired Companies and America’s Most Innovative Companies.

Like many CEOs, AI is transforming her workforce, too. What’s different about Black is that, three and a half years into her tenure as ADP’s first female CEO, she’s managed to navigate this disruption while boosting employee engagement. She came in at No. 1 on Comparably’s 2025 ranking of top CEOs, while her company is listed as one of Fortune’s Sector Leaders, as well as on our list of the World’s Most Admired Companies and America’s Most Innovative Companies.