Team,
The world today seems to be moving faster than it ever has before. When a decision is made or a new technology is introduced, we see and feel its impact almost immediately. This can be said for a lot of areas— from our government to the economy to innovation.
In the world of innovation, nowhere do we see this more than with artificial intelligence. It’ s not a future technology— it’ s right here, right now, and it’ s already changing the game. According to the World Economic Forum, it’ s the biggest, most consequential technological advancement in the history of mankind. The fast pace of change can sometimes feel a bit overwhelming, but there’ s also something exhilarating about the chance to evolve, improve and keep moving forward.
A few years ago, generative AI seemed like a fun novelty. Now, it’ s part of our daily lives, and the next big thing—“ agentic” AI— is already boosting productivity and revenue across our industries. At Cox, we see AI as a tool to empower us to accomplish more. We have a long history of adopting new technology and ways of working to help make us stronger— and that’ s exactly what’ s happening now.
Something exciting happening at Cox Enterprises is the work taking place within Socium Ventures. This is a fund designed to invest in emerging growth businesses. We initially invested in 19 companies before last year announcing our second fund of $ 300 million. The team has already invested some of this additional fund into businesses like SuperAnnotate and Perplexity AI. There is so much potential in all these investments, and it’ s exciting to watch them grow, scale and advance their industries.
When you think of the work taking place across our company, it should never be lost on us the large impact we have on our communities and the world. Each of our businesses faces steep competition, but we’ re a company full of talented people capable of not just rolling with the punches but winning the fights that matter most.
That’ s what makes us different, and that’ s what makes us special. Together we’ re building something that will continue to benefit people for many generations, and I thank you for your ongoing dedication to helping us make a difference in so many lives.
In addition to AI, we’ re nurturing innovation at our companies in many other ways as well. Segra, Cox Communications’ commercial fiber business, has plans to extend its network across all 26 markets we currently operate in, as well as in new expansion markets. Last year, they did this in St. Louis and Knoxville and saw early success as they signed many new commercial customers within just a few short weeks.
This year, Cox Automotive is celebrating Manheim, a part of our business that’ s been consistently transforming for 80 years now. Manheim didn’ t join the Cox family until 1968, but since then we’ ve had generations of people working to build it into the strong business it is today. They had a record year in 2024 and are continuing to find ways to grow in an incredibly competitive industry. Congrats to everyone at Manheim, and I’ m looking forward to celebrating many more anniversaries in the future.
Alex Taylor Chairman and CEO
Follow Alex at LinkedIn. com / in / Alex-Taylor.
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