Nurturing what is known as “promotion focus” can help managers spot fresh ideas.
Photo by Diego PH on Unsplash

Having a “promotion focus” really does create a mental lens through which new ideas are more visible.

Key findings:

  • New ideas can be crucially important to businesses, driving innovation and preventing stagnation.
  • Recognizing those ideas, though, isn’t always easy.
  • Nurturing what is known as “promotion focus” can help managers spot fresh ideas.

Whenever the late surgeon Michael DeBakey opened a human chest, he drew on a lifetime of resources: the conviction that heart surgery could and should be vastly improved, the skill to venture beyond medicine’s known horizons and the vision to recognize new ideas in everyone around him, no matter how little formal training they had.

Appreciating new ideas is the heartbeat of business as well as medicine. But innovation is surprisingly hard to recognize. In a pioneering 2017 article, Rice Business Professor Jing Zhou and her colleagues published their findings on the first-ever study of the traits and environments that allow leaders to recognize new ideas.

Recent decades have produced a surge of research looking at how and when employees generate fresh ideas. But almost nothing has been written on another crucial part of workplace creativity: a leader’s ability to appreciate new thinking when she sees it.

Novelty, after all, is what drives company differentiation and competitiveness. Work that springs from new concepts sparks more investigation than work based on worn, already established thought. Companies invest millions to recruit and pay star creatives.

Yet not every leader can spot a fresh idea, and not every workplace brings out that kind of discernment. In four separate studies, Zhou and her coauthors examined exactly what it takes to see a glittering new idea wherever it appears. Their work sets the stage for an entirely new field of future research.

First, though, the team had to define their key terms. “Novelty recognition” is the ability to spot a new idea when someone else presents it. “Promotion focus,” previous research has shown, is a comfort level with new experiences that evokes feelings of adventure and excitement. “Prevention focus” is the opposite trait: the tendency to associate new ideas with danger, and respond to them with caution.

But does having “promotion focus” as opposed to “prevention focus” color the ability to see novelty? To find out, Zhou’s team came up with an ingenious test, artificially inducing these two perspectives through a series of exercises. First, they told 92 undergraduate participants that they would be asked to perform a set of unrelated tasks. Then the subjects guided a fictional mouse through two pencil and paper maze exercises.

While one exercise showed a piece of cheese awaiting the mouse at the end of the maze (the promise of a reward), the other maze depicted a menacing owl nearby (motivation to flee).

Once the participants had traced their way through the mazes with pencils, they were asked to rate the novelty of 33 pictures — nine drawings of space aliens and 24 unrelated images. The students who were prepped to feel an adventurous promotion focus by seeking a reward were much better at spotting the new or different details among these images than the students who’d been cued to have a prevention focus by fleeing a threat.

The conclusion: a promotion focus really does create a mental lens through which new ideas are more visible.

Zhou’s team followed this study with three additional studies, including one that surveyed 44 human resource managers from a variety of companies. For this study, independent coders rated the mission statements of each firm, assessing their cultures as “innovative” or “not innovative.” The HR managers then evaluated a set of written practices — three that had been in use for years, and three new ones that relied on recent technology. The managers from the innovative companies were much better at rating the new HR practices for novelty and creativity. To recognize novelty, in other words, both interior and external environments make a difference.

The implications of the research are groundbreaking. The first ever done on this subject, it opens up a completely new research field with profound questions. Can promotion focus be created? How much of this trait is genetic, and how much based on natural temperament, culture, environment and life experience? Should promotion focus be cultivated in education? If so, what would be the impact? After all, there are important uses for prevention focus, such as corporate security and compliance. Meanwhile, how can workplaces be organized to bring out the best in both kinds of focus?

Leaders eager to put Zhou’s findings to use right away, meanwhile, might look to the real-world model of Michael DeBakey. Practice viewing new ideas as adventures, seek workplaces that actively push innovation and, above all, cultivate the view that every coworker, high or low, is a potential source of glittering new ideas.

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This article originally appeared on Rice Business Wisdom.

Jing Zhou is the Mary Gibbs Jones Professor of Management and Psychology in Organizational Behavior at the Jones Graduate School of Business of Rice University. Zhou, J., Wang, X., Song, J., & Wu, J. (2017). "Is it new? Personal and contextual influences on perceptions of novelty and creativity." Journal of Applied Psychology, 102(2): 180-202.

Don't miss these March events — from CERAWeek to the Ion's Mardi Gras block party. Image via houston.org

10 can't-miss Houston business and innovation events for March

where to be

Editor's note: March is here, and that means the return of some of Houston’s signature innovation events, as well as insightful talks and a Mardi Gras block party. Here are the Houston business and innovation events you can't miss in March and how to register. Please note: this article might be updated to add more events.

March 5 – SheSpace Women’s Day Open House

Connect with like-minded women during a free day of coworking at SheSpace. And while you're there, take a break and enjoy a floral arranging class, complimentary breakfast, pop-up shops, happy hour and raffle prizes. Space is limited.

The event is Wednesday, March 5, from 9 a.m.–7 p.m. Click here to register.

March 5 — Science and the American Presidency

Hear from former presidential science advisors—Kelvin Droegemeier who served under President Trump, Neal Lane who served under President Clinton and Alondra Nelson who served under President Biden—as they discuss their experiences leading the White House Office of Science and Technology Policy and how science is used to address issues from climate change and public health to national security and economic competitiveness. An exhibit inside Baker Hall will complement the event. The Baker Institute Science and Technology Policy Program and Rice Innovation will host the talk.

This event is Wednesday, March 5, from 5:30–8 p.m. at James A. Baker Hall. Click here to register.

March 6 — Ion Block Party - Mardi Gras Edition 

Let the good times roll this week while networking with potential collaborators, mentors and investors at the Ion. Food and drink will be available while supplies last and the Ion will provide drink tickets for one free drink at Second Draught upon check-in.

This event is Thursday, March 6, from 4–7 p.m. at the Ion. Click here to register.

March 10-14 — CERAWeek 2025

The foremost annual gathering in the energy sector returns to Houston March 10-14, 2025. Themed "Moving Ahead: Energy strategies for a complex world," CERAWeek 2025 will focus on the challenges ahead for energy security, supply, and climate ambitions. More than 10,000 participants from over 2,050 companies across 80 countries will convene in Houston for this ambitious event. CERAWeek comprises three platforms: the Executive Conference, the Innovation Agora, and Partner Programs. We'll dive into comprehensive CERAWeek recommendations in future articles.

This event begins Monday, March 10. Click here to register.

March 11 — Energy Venture Day at the Ion

Preview pitches from 40-plus energy ventures competing at CERAWeek's Energy Venture Day and Pitch Competition, co-hosted by the Rice Alliance, Ion, HETI, and TEX-E. This free, fast-paced pitch event offers an alternative to the CERAWeek event, which requires an Agora pass.

This event is Tuesday, March 11, from 9 a.m.–2:30 p.m. Click here to register.

March 13 — Code4Y'allMeetup

Connect with fellow coders at Code4Y’all's meetup at the Ion. Andrew Baines, Founder of No Experience Jobs, will present "How I Built a Job Board to Help Entry-Level Tech Talent (And What I Learned)." Hear from Baines and learn lessons from job seekers.

This event is Thursday, March 13, from 6–7 p.m. Click here to register.

March 13-14 — Veterans Business Battle

Hear pitches from veterans and entrepreneurs as they compete for $5 million in investments at Rice Businesses' 11th annual Veterans Business Battle. This year, the two-day event will also feature a Small Business Expo which invites Houston-based, veteran-owned businesses to participate in education, networking, and the opportunity to showcase their business.

This event begins Thursday, March 13, at 11:30 a.m. at McNair Hall on Rice's campus. Click here to register.

March 17 — Women in Innovation 

Celebrate Women's History Month with an engaging panel discussion hosted by the University of Houston's Division of Energy and Innovation. UH's Tanu Chatterji, Stacey Gorniak and Chrysa Latrick will discuss the achievements of trailblazing women across various industries, as well as share challenges and experiences. Lunch will be provided.

This event is Monday, March 17, from noon–1 p.m. at UH's Faculty Cafe. Find more information here.

March 24-28 — H-Town Roundup 2025

Celebrate innovation, entrepreneurship and collaboration this month during Houston Exponential's H-Town Roundup. During the fifth-annual free event series, previously known as Houston Tech Rodeo, attendees can expect insightful talks, workshops and networking events at venues across the city like the Ion, Greentown Labs, University of Houston and more.

This event begins Monday, March 24. See the full schedule of events here.

​March 27 — NASA Tech Talks

Every fourth Thursday of the month, NASA experts, including longtime engineer Montgomery Goforth, present on technology development challenges NASA’s Johnson Space Center and the larger aerospace community are facing and how they can be leveraged by Houston’s innovation community. Stick around after for drinks and networking at Second Draught.

This event is Thursday, March 27, from 6-7 p.m. at the Ion. Register here.

The lawsuit said that the combination of businesses would eliminate competition, raise prices and reduce innovation. Photo courtesy of HPE

Justice Department sues to block Houston-based HPE's $14B buyout of Juniper

M&A News

The Justice Department sued to block Hewlett Packard Enterprise's $14 billion acquisition of rival Juniper Networks on Thursday, the first attempt to stop a merger by a new Trump administration that is expected to take a softer approach to mergers.

The Justice complaint alleges that Hewlett Packer Enterprise, under increased competitive pressure from the fast-rising Juniper, was forced to discount products and services and invest more in its own innovation, eventually leading the company to simply buy its rival.

The lawsuit said that the combination of businesses would eliminate competition, raise prices and reduce innovation.

HPE and Juniper issued a joint statement Thursday, saying the companies strongly oppose the DOJ's decision.

“We will vigorously defend against the Department of Justice’s overreaching interpretation of antitrust laws and will demonstrate how this transaction will provide customers with greater innovation and choice, positively change the dynamics in the networking market,” the companies said.

The combined company would create more competition, not less, the companies said.

The Justice Department's intervention — the first of the new administration and just 10 days after Donald Trump's inauguration — comes as somewhat of a surprise. Most predicted a second Trump administration to ease up on antitrust enforcement and be more receptive to mergers and deal-making after years of hypervigilance under former President Joe Biden’s watch.

Hewlett Packard Enterprise announced one year ago that it was buying Juniper Networks for $40 a share in a deal expected to double HPE’s networking business.

In its complaint, the government painted a picture of Hewlett Packard Enterprise as a company desperate to keep up with a smaller rival that was taking its business.

HPE salespeople were concerned about the “Juniper threat,” the complaint said, also alleging that one former executive told his team that “there are no rules in a street fight,” encouraging them to “kill” Juniper when competing for sales opportunities.

The Justice Department said that Hewlett Packard Enterprise and Juniper are the U.S.'s second- and third-largest providers of wireless local area network (WLAN) products and services for businesses.

“The proposed transaction between HPE and Juniper, if allowed to proceed, would further consolidate an already highly concentrated market — and leave U.S. enterprises facing two companies commanding over 70% of the market,” the complaint said, adding that Cisco Systems was the industry leader.

Many businesses and investors accused Biden regulatory agencies of antitrust overreach and were looking forward to a friendlier Trump administration.

Under Biden, the Federal Trade Commission sued to block a $24.6 billion merger between Kroger and Albertsons that would have been the largest grocery store merger in U.S. history. Two judges agreed with the FTC’s case, blocking the proposed deal in December.

In 2023, the Department of Justice, through the courts, forced American and JetBlue airlines to abandon their partnership in the northeast U.S., saying it would reduce competition and eventually cost consumers hundreds of millions of dollars a year. That partnership had the blessing of the Trump administration when it took effect in early 2021.

U.S. regulators also proposed last year to break up Google for maintaining an “abusive monopoly” through its market-dominate search engine, Chrome. Court hearings on Google’s punishment are scheduled to begin in April, with the judge aiming to issue a final decision before Labor Day. It’s unclear where the Trump administration stands on the case.

One merger that both Trump and Biden agreed shouldn’t go through is Nippon Steel’s proposed acquisition of U.S. Steel. Biden blocked the nearly $15 billion acquisition just before his term ended. The companies challenged that decision in a federal lawsuit early this year.

Trump has consistently voiced opposition to the deal, questioning why U.S. Steel would sell itself to a foreign company given the regime of new tariffs he has vowed.

Octagos Health has announced a $43 million series B raise that will bring their technology to many more hearts. Image via octagoshealth.com

Houston cardiac health startup raises $43 million series B to grow AI-backed platform

money moves

A Houston-based tech company that has a product line of software solutions for cardiac health has raised funding.

Octagos Health, the parent company of Atlas AI — a software platform for cardiac devices like pacemakers, defibrillators, ambulatory monitors and consumer wearables — has announced a $43 million series B raise that will bring their technology to many more hearts.

Morgan Stanley Investment Capital led the investment, which also included funds from Mucker Capital and other continuing strategic investors. The goal of the raise is to supply funds to accelerate Atlas AI’s growth across the United States and to expand into other areas of care, including ambulatory monitors, consumer wearables, and sleep.

"This investment will enable us to accelerate enhancements to our platform, in addition to scaling our commercial team and operations. We are currently the only company that helps cardiology practices migrate their historical data from legacy software providers and fully integrates with any EHR (exertion heart rate) system. We do this while enabling customized reporting supported by patient and practice decision-support analytics," says Eric Olsen, COO of Octagos Health, in a press release.

Octagos Health was founded by a team of healthcare pros including CEO Shanti Bansal, a cardiologist and founder of Houston Heart Rhythm, an atrial fibrillation center. The goal was to find a new way to deal with the massive amount of data that clinicians encounter each day in a way that combines software and the work of human doctors.

According to the Octagos Health website, “Our solution allows clinicians to focus on other ways of delivering meaningful healthcare and more efficiently manage their remotely monitored patients.”

It works thanks to customizable reporting features that allow patients’ healthcare teams to get help while monitoring them, but to do it precisely as they would if they were crunching numbers themselves.

"We are excited to partner with Octagos Health and support their vision of transforming cardiac care," says Melissa Daniels, managing director of Morgan Stanley Expansion Capital. "Octagos Health has demonstrated exceptional growth and innovation in a critical area of healthcare. We believe their platform and vertically integrated software and services significantly improve patient care and streamline cardiac monitoring processes for healthcare providers."

Will Hsu, co-founder and partner of Mucker Capital, agrees. “Octagos Health is poised for scale – industry leading gross margins, a very sticky product that doctors and clinical staff love, and a market ready for disruption with artificial intelligence. This is the new wave for diagnostic care,” he says. And with this raise, it will be available to even more clinicians and patients across the country.

Eight Houston entrepreneurs are among 16 recipients of EOY’s Gulf South Award, which recognizes leaders of high-growth companies in Central Texas, South Texas, Louisiana, and Mississippi. Photo via Getty Images

8 Houston entrepreneurs recognized on annual EY awards program

regional winners

Eight Houston-area entrepreneurs have been named regional winners in Ernst & Young’s 2024 Entrepreneur Of The Year program.

The eight entrepreneurs are among 16 recipients of EOY’s Gulf South Award, which recognizes leaders of high-growth companies in Central Texas, South Texas, Louisiana, and Mississippi.

A panel of judges chose the winners based on factors such as:

  • Creation of long-term value through entrepreneurship.
  • Commitment to the purpose of their business.
  • Demonstration of growth and “substantial impact.”

“The 2024 Entrepreneur Of The Year Gulf South Award winners are exceptional business leaders fueling innovation within their industries and growth within their companies,” says Anna Horndahl, an EY partner who is co-director of EOY’s Gulf South program.

The Houston area’s Gulf South winners for 2024 are:

  • Hal Brumfield of Tachus Fiber Internet, a provider of fiber-to-the-home internet service based in The Woodlands.
  • Stuart Hinchen and Peter Jenkins of QuVa Pharma, a Sugar Land-based provider of ready-to-administer injectables.
  • Andrew Levy of Avelo Airlines, a low-cost airline based in Houston.
  • Derek Maetzold of Castle Biosciences, a Friendswood-based provider of diagnostic tests.
  • Shannon Payne of Allied Fire Protection, a Pearland-based provider of fire prevention products and services.
  • John Poindexter of JB Poindexter & Co., a Houston-based provider of automotive and manufacturing goods and services.
  • Ting Qiao of Wan Bridge, a Houston-based developer and operator of build-to-rent communities.

“These entrepreneurs are shining examples of how to lead a scaling business and also care for their employees, customers and communities,” says Travis Garms, an EY partner who is co-director of EOY’s Gulf South program.

The regional winners now qualify for consideration in the EOY national awards program. The national awards are scheduled to be presented in November.

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CultureMap Emails are Awesome

Announcing the 2025 Houston Innovation Awards finalists

Inspirational Innovators

InnovationMap is proud to reveal the finalists for the 2025 Houston Innovation Awards.

Taking place on November 13 at Greentown Labs, the fifth annual Houston Innovation Awards will honor the best of Houston's innovation ecosystem, including startups, entrepreneurs, mentors, and more.

This year's finalists were determined by our esteemed panel of judges, comprised of past award winners and InnovationMap editorial leadership.

The panel reviewed nominee applications across 10 prestigious categories to determine our finalists. They will select the winner for each category, except for Startup of the Year, which will be chosen by the public via online voting launching later this month.

We'll announce our 2025 Trailblazer Award recipient in the coming weeks, and then we'll unveil the rest of this year's winners live at our awards ceremony.

Get to know all of our finalists in more detail through editorial spotlights leading up to the big event. Then, join us on November 13 as we unveil the winners and celebrate all things Houston innovation. Tickets are on sale now — secure yours today.

Without further ado, here are the 2025 Houston Innovation Awards finalists:

Minority-founded Business

Honoring an innovative startup founded or co-founded by BIPOC or LGBTQ+ representation:

  • Capwell Services
  • Deep Anchor Solutions
  • Mars Materials
  • Torres Orbital Mining (TOM)
  • Wellysis USA

Female-founded Business

Honoring an innovative startup founded or co-founded by a woman:

  • Anning Corporation
  • Bairitone Health
  • Brain Haven
  • FlowCare
  • March Biosciences
  • TrialClinIQ

Energy Transition Business

Honoring an innovative startup providing a solution within renewables, climatetech, clean energy, alternative materials, circular economy and beyond:

  • Anning Corporation
  • Capwell Services
  • Deep Anchor Solutions
  • Eclipse Energy
  • Loop Bioproducts
  • Mars Materials
  • Solidec

Health Tech Business

Honoring an innovative startup within the health and medical technology sectors:

  • Bairitone Health
  • Corveus Medical
  • FibroBiologics
  • Koda Health
  • NanoEar
  • Wellysis USA

Deep Tech Business

Honoring an innovative startup providing technology solutions based on substantial scientific or engineering challenges, including those in the AI, robotics and space sectors:

  • ARIX Technologies
  • Little Place Labs
  • Newfound Materials
  • Paladin Drones
  • Persona AI
  • Tempest Droneworx

Startup of the Year (People's Choice)

Honoring a startup celebrating a recent milestone or success. The winner will be selected by the community via an online voting experience:

  • Eclipse Energy
  • FlowCare
  • MyoStep
  • Persona AI
  • Rheom Materials
  • Solidec

Scaleup of the Year

Honoring an innovative later-stage startup that's recently reached a significant milestone in company growth:

  • Coya Therapeutics
  • Fervo Energy
  • Koda Health
  • Mati Carbon
  • Molecule
  • Utility Global

Incubator/Accelerator of the Year

Honoring a local incubator or accelerator that is championing and fueling the growth of Houston startups:

  • Activate
  • Energy Tech Nexus
  • Greentown Labs
  • Healthtech Accelerator (TMCi)
  • Impact Hub Houston

Mentor of the Year

Honoring an individual who dedicates their time and expertise to guide and support budding entrepreneurs. Presented by Houston Community College:

  • Anil Shetty, Inform AI
  • Jason Ethier, EnergyTech Nexus
  • Jeremy Pitts, Activate
  • Joe Alapat, Liongard
  • Neil Dikeman, Energy Transition Ventures
  • Nisha Desai, Intention

Trailblazer Recipient

  • To be announced
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Interested in sponsoring the 2025 Houston Innovation Awards? Contact sales@innovationmap.com for details.

Houston scientists earn prestigious geophysics career awards

winner, winner

Two Rice University professors have been recognized by the American Geophysical Union, one of the world’s largest associations for Earth and space science.

Rice climatologist Sylvia Dee was awarded the 2025 Nanne Weber Early Career Award by the AGU’s Paleoceanography and Paleoclimatology Section. Richard Gordon, a Rice professor of geophysics also received the 2025 Walter H. Bucher Medal by the AGU. They will both be recognized at the AGU25 event on Dec.15-19 in New Orleans.

The Nanne Weber Early Career Award recognizes contributions to paleoceanography and paleoclimatology research by scientists within 10 years of receiving their doctorate.

“Paleoclimate research provides essential context for understanding Earth’s climate system and its future under continued greenhouse warming," Dee said in a news release. “By studying how climate has evolved naturally in the past, we can better predict the risks and challenges that lie ahead.”

Dee’s work explores how Earth’s natural modes of variability interact with the changing climate and lead to extreme weather. It shows how these interactions can add to climate risks, like flooding and rainfall patterns all around the world.

The Bucher Medal is awarded to just one scientist for their original contributions to the knowledge of the Earth’s crust and lithosphere.

Gordon’s research has reshaped how scientists understand the movement and interaction of Earth’s tectonic plates. He helped reveal the existence of diffuse plate boundaries—areas where the planet’s crust slowly deforms across broad regions instead of along a single fault line. His work also explored true polar wander, a phenomenon in which Earth gradually shifts its orientation relative to its spin axis.

Gordon introduced the concept of paleomagnetic Euler poles, a method for tracing how tectonic plates have moved over millions of years. He also led the development of major global plate motion models, including NUVEL (Northwestern University Velocity) and MORVEL (Mid-Ocean Ridge Velocity).

“Receiving the Walter Bucher Medal is a profound honor,” Gordon said in a news release. “To be included on a list of past recipients whose work I have long admired makes this recognition especially meaningful. There are still countless mysteries about how our planet works, and I look forward to continuing to explore them alongside the next generation of scientists.”

3 Houston-area companies appear on Fortune’s inaugural AI ranking

eyes on ai

Three companies based in the Houston area appear on Fortune’s inaugural list of the top adopters of AI among Fortune 500 companies.

The three companies are:

  • No. 7 energy company ExxonMobil, based in Spring
  • No. 7 tech company Hewlett Packard Enterprise, based in Spring
  • No. 47 energy company Chevron, based in Houston

All three companies have taken a big dive into the AI pool.

In 2024, ExxonMobil’s executive chairman and CEO, Darren Woods, explained that AI would play a key role in achieving a $15 billion reduction in operating costs by 2027.

“There is a concerted effort to make sure that we're really working hard to apply that new technology to the opportunity set within the company to drive effectiveness and efficiency,” Woods told Wall Street analysts.

Hewlett Packard Enterprise is also employing AI to decrease costs. In March, the company announced a restructuring plan — including the elimination of 3,000 jobs — aimed at cutting about $350 million in annual expenses. The restructuring is scheduled to wrap up by the end of October.

Hewlett Packard Enterprise’s Catalyst cost-cutting program includes a push to use AI across the company to improve efficiency, Marie Myers, the company’s executive vice president and chief financial officer, told Wall Street analysts in June.

“Our ambition is clear: A leaner, faster, and more competitive organization. Nothing is off limits. We are focused on rethinking the business — not just reducing our costs, but transforming the way we operate,” Myers said.

At Chevron, AI tools are being used to quickly analyze data and extract insights from it, according to tech news website VentureBeat. Also, Chevron employs advanced AI systems known as large language models (LLMs) to create engineering standards, specifications and safety alerts. AI is even being put to work in Chevron’s exploration initiatives.

Bill Braun, Chevron’s chief information officer, said at a VentureBeat-sponsored event in 2024 that AI-savvy data scientists, or “digital scholars,” are always embedded within workplace teams “to act as a catalyst for working differently.”

The Fortune AIQ 50 ranking is based on ServiceNow’s Enterprise AI Maturity Index, an annual measurement of how prepared organizations are to adopt and scale AI. To evaluate how Fortune 500 companies are rolling out AI and how much they value AI investments, Fortune teamed up with Enterprise Technology Research. The results went into computing an AIQ score for each company.

At the top of the ranking is Alphabet (owner of Google and YouTube), followed by Visa, JPMorgan Chase, Nvidia and Mastercard.

Aside from ExxonMobil, Hewlett Packard Enterprise, and Chevron, two other Texas companies made the list: Arlington-based homebuilder D.R. Horton (No. 29) and Austin-based software company Oracle (No. 37).

“The Fortune AIQ 50 demonstrates how companies across industry sectors are beginning to find real value from the deployment of AI technology,” Jeremy Kahn, Fortune’s AI editor, said in a news release. “Clearly, some sectors, such as tech and finance, are pulling ahead of others, but even in so-called 'old economy' industries like mining and transport, there are a few companies that are pulling away from their peers in the successful use of AI.”