Business trends, risks and companies to watch in 2025

Financial Times reporters consider the rise of “sovereign” artificial intelligence, the prospects for electric car sales and whether the “masters of the universe” will be investing your pension savings, in our survey of business trends in the year ahead. The short history of generative artificial intelligence has been shaped by the race between a handful of companies to build the ever-powerful large language models at the heart of the technology.

With its complex supply chain and close business ties in China, Tesla is unlikely to avoid the effects of wide-ranging tariffs that Trump has threatened against goods imported to the US. Musk has also shifted some of his attention from EVs to autonomous driving and artificial intelligence. If he makes good on his promises for Tesla’s self-driving “Cybercab”, this would have profound implications for the automotive industry.

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