Steve Swartz on artificial intelligence
From Steven Swartz on Hearst, Trust, and the Future of Media | Enduring Excellence · · The University of Chicago Graham School
“We are using generative AI in, in, in as many aspects of the business as we think is, is prudent without it distracting us from the fact that we were doing pretty well before generative AI came along. Right. So you clearly look for ways that it can make our people more efficient, faster in gathering data sources. One of the things that's amazing about an anthropic run or a GTP, is that it will find sources that, you know, we maybe never thought to look at as we're looking to, to do research. One of the things that, that I find interesting and Mitch Scherzer, our CFO, usually does this for me when we're doing an analysis of one of our businesses. He takes their many years of data and all of the memos that they've written us over that and feeds it into anthropic. And it comes back with questions that we should ask in the meeting. Now, we've had our own questions, but every now and then I'm like, oh, I didn't, I missed that or that's really interesting. Now again, you validate it, it comes up with you don't just say, oh, okay, this has to be true because anthropic said it you clearly, but it has definitely enhanced our ability to analyze. It's made us faster. And then also we are looking using it to make our products better for those who are using our products.”
On , Steve Swartz, CEO of Hearst Corporation at Hearst Corporation, spoke about artificial intelligence during Steven Swartz on Hearst, Trust, and the Future of Media | Enduring Excellence on The University of Chicago Graham School.
About Steve Swartz
Steven Swartz, president and CEO of Hearst Corporation, discussed the company’s evolution and strategy during a May 7, 2026, conversation in the Enduring Excellence series hosted by the University of Chicago’s Graham School. Swartz stated that media now accounts for about 40% of Hearst’s profits, while 60% comes from B2B and medical data and software businesses, with the Fitch bond rating group being the largest. He described the company’s newspaper operations as a civic mission, noting that while it is “not the best business if you want to look at growth or margins,” Hearst invests heavily in journalism. Swartz also said that over the last 15 years, Hearst has made approximately $19 billion in acquisitions, with about $15 billion in the B2B space, and that the company has no net debt. Swartz emphasized the importance of financial discipline in maintaining the company’s mission, stating that during the pandemic, Hearst avoided layoffs because “most people get their health care from their employer,” a decision enabled by what he called a “fortress balance sheet.” He attributed the company’s 140-year longevity to a strong sense of mission combined with business discipline, and said that when mission and business results come into tension, the company prioritizes mission while ensuring it has sufficient cash reserves to withstand adverse events.