Paul Hudson, CEO of French pharma and healthcare giant Sanofi, has spent his career leading pharmaceutical industry titans. But dont follow in his footsteps; he says the next generation will have to learn an entire new rulebook, because their skills dont meet current companies needs.

I got here, to this job, by doing all of the traditional roles, Hudson told Fortunes Peter Vanham during an interview on Fortune Connect, Fortunes executive leadership community. Run Japan. Run North America. Learn about drug development. Be in business development and mergers and acquisitions.

Before taking the lead role at Sanofi nearly four years ago, Hudson was CEO of another pharma giant, Novartis, after spending 10 years priors running AstraZenecas North America business.

Each of these experiences was very interesting, Hudson acknowledged; all those years in the C-suite taught him a great deal about people, management, and profits. But they also taught him that hopeful executives-to-be will have little use for the learnings critical to his own rise, and that the prerequisites for the person who will one day succeed him at Sanofior any major companywill be different.

Indeed, the next generation must hone a very different set of skills than the current executives needed to. What got me here will not get them there, Hudson said. Namely, young workers need to have a big data experience in their skill set. 

Thats because, by the time theyre cresting the C-suite, having a firm grasp on generative A.I. and similar big tech implementations (whatever those will look like 30 years in the future) will be a minimum expectation, he said.

That doesnt necessarily mean business leaders will also need to be coders. Rather, theyll need to understand the importance of data, the opportunity it presents to their company, what it can provide for them and their people, and how it can help a C-suite exec themselves create what Hudson called an exponentially bigger impact.

A.I. skills wont just be nice-to-haves for long

Hudson is far from the only public company CEO to expound upon the virtues of A.I. adoption; it explains why full understanding of its capabilities is becoming non-negotiable. 

In a Connect executive session just last week, Andy Bird, CEO of education giant Pearson Education, said most workers have no choice but to add A.I. fluency to their repertoire.

In many ways, technology and A.I. are moving faster than real life, Bird said. Were struggling to catch up, and the impact that that has on us both as individuals and as companies is the need to continually reskill and upskill.

Thats no exaggeration. The skills gap has grown so much that its left nearly half (44%) of workers in a tough position: Upskill to meet your jobs demands, or find work elsewhere. Unfortunately, Gen Zs comparable familiarity with tech isnt much use when it comes to new A.I. Nearly two in five (37%) of Gen Zers feel their technological education underprepared them for their careers, per a recent Dell Technologies survey; over half believe they have very basic to no digital skills education.

But in most cases, upskilling to meet digital demands isnt as daunting as it soundsand most companies would rather boost worker capabilities than replace them with robots. For example, if youre an accountant, you already possess 25% of the skills you need to become a data scientist, said Bird, the Pearson CEO. So we only need to reskill a bit; you have some of the basic core competences to take you from Job A to Job B.

If the biggest hurdle is assessing where A.I. fits throughout the organization and implementing it, Sanofi is already there. Its one of the few companies where, on any given day, 9,000 people are using A.I., Hudson said: Thats 10% of the company. He believes that at scale, A.I. will create exponential value for Sanofi as well as the patients it serves. Anyone who disagrees is missing the boat. 

There are going to be companies that [dont adopt AI, and] really try to hold everybody back, Hudson said. I think they wont be able to compete.

Brazil and China recently struck a deal to settle trade in their local currencies, seeking to bypass the greenback in the process. India and Malaysia in April signed an accord to ramp up usage of the rupee in cross-border business. Even perennial US ally France is starting to complete transactions in yuan.

Currency experts are leery of sounding like the Cassandras who have, embarrassingly, predicted the dollars imminent demise on any number of occasions over the past century. And yet in observing this sudden wave of agreements aimed at sidestepping the dollar, they detect the sort of meaningful action, however small and gradual, that was typically missing in the past.

For many global leaders, their rationales for taking these measures are strikingly similar. The greenback, they say, is being weaponized, used to push Americas foreign-policy priorities and punish those that oppose them.

Nowhere has that been more evident than in Russia, where the US has brought unprecedented financial pain to bear on Vladimir Putins regime in response to the invasion of Ukraine. The Biden administration has imposed sanctions, frozen hundreds of billions of dollars of Moscows foreign reserves, and, in concert with Western allies, all but ousted the country from the global banking system. For much of the world, its been a stark reminder of their own dependency on the dollar, regardless of what they think of the war.

And thats the dilemma Washington officials face: By increasingly relying on the greenback to fight their geopolitical battles, not only do they risk denting the dollars preeminent place in world markets, but they could ultimately undermine their ability to exert influence on the global stage. To ensure long-term efficacy, sanctions are often better left as a threat and not actually carried out, according to Daniel McDowell, author of Bucking the Buck: US Financial Sanctions and the International Backlash Against the Dollar.

Now, a rational actor that knows it could potentially be in that situation in the future is going to prepare for that scenario, and it does make your coercive threats, your deterrent threats, less effective, said McDowell, the director of undergraduate studies in the political science department at Syracuse University. Maybe the change is marginal now, but even if it ultimately culminates in something that doesnt dethrone the dollar, it still matters in how it can reduce American economic power.

Undoubtedly, part of the shift away from the dollar is being orchestrated by China. President Xi Jinping is seeking to carve out a bigger role for the yuan in the global financial system, and his government has made expanding the currencys use abroad a priority.

Yet much of the push is happening without Beijings involvement.

India hardly a strategic ally of China and Malaysia in April announced a new mechanism to conduct bilateral trade in rupees. Its part of a broader effort by the Narendra Modi administration   which hasnt signed on to the US-led sanctions campaign against Russia to bypass the dollar for at least some international transactions. 

A month later, the Association of Southeast Asian Nations agreed to boost the use of member currencies for regional trade and investment. 

And South Korea and Indonesia just weeks ago signed an accord to promote direct exchanges of the won and rupiah.

Brazilian President Luiz Inacio Lula da Silva lashed out at the dollars dominance while visiting Shanghai in April. Standing at a podium surrounded by the flags of Brazil, Russia, India, China and South Africa, the so-called BRICS nations, he called on the worlds largest developing economies to come up with an alternative to replace the greenback in foreign trade, asking who decided that the dollar was the (trade) currency after the end of gold parity? 

He was harkening back to the early 1970s, when the post-WWII accord known as Bretton Woods that had made the dollar the center of global finance was unraveling. The agreements collapse did little to blunt the dollars preeminent position. To this day, it serves as the worlds dominant reserve currency, which has juiced demand for US bonds and allowed the country to run massive trade and budget deficits

The currencys centrality to the global payments system also allows America to wield unique influence over the economic destiny of other nations.

About 88% of all global foreign-exchange transactions, even those not involving the US or US companies, are in dollars, according to the most recent data from the Bank for International Settlements. Because banks handling cross-border dollar flows maintain accounts at the Federal Reserve, theyre susceptible to US sanctions.

While the campaign of financial punishments against Russia is the latest and most high-profile example, both Democrat and Republican administrations have used sanctions on countries including Libya, Syria, Iran and Venezuela in recent years.

The Biden administration has averaged 1,151 new designations per year to the Office of Foreign Assets Controls list of specially designated nationals, according to a recent report from the Center for Economic and Policy Research. Thats up from an average of 975 during the Trump administration, and 544 during President Obamas first four-year term. 

Countries have chafed for decades under US dollar dominance, said Jonathan Wood, principal for global issues at consultancy Control Risks. More aggressive and expansive use of US sanctions in recent years reinforces this discomfort and coincides with demands by major emerging markets for a new distribution of global power.

A representative for the Treasury referred Bloomberg to comments Secretary Janet Yellen made in a mid-April interview with CNN, in which she acknowledged that there is risk when we use financial sanctions that are linked to the role of the dollar that over time it could undermine the hegemony of the dollar.

But she noted that the greenback is used as a global currency for reasons that are not easy for other countries to find an alternative with the same properties.

Market watchers agree. Even as a more countries look to lessen their reliance on the dollar, few expect its preeminent position in global trade and finance to be threatened any time soon. 

For one, theres little sign any other currency could provide the same level of stability, liquidity and safety, they say. Whats more, the vast majority of the USs advanced-economy allies, making up more than 50% of global gross domestic product, have shown little urgency in pivoting from the greenback.

In fact, the dollar has rallied versus the bulk of its major peers since the US stepped up its sanctions against Russia last year, a sign that any decline in its global status is likely to be a long, slow process.

I cannot see any asset replacing the dollar as the dominant currency, not for the next generation, said George Boubouras, a three-decade markets veteran and head of research at K2 Asset Management in Melbourne. Nothing comes close to the might of the US economy. China has its issues with aging demographics, and the euro has struggled to truly gain ground. The dollar will not be de-throned for the foreseeable future.

BRICS Backlash

Still, the drumbeat of de-dollarization is continuing unabated in the developing world.

Pakistan is looking to pay for Russian crude imports in yuan, the countrys power minister said last month, while earlier this year the United Arab Emirates said it was in early-stage discussions with India on ways to boost non-oil commerce in rupees.

Earlier this week the BRICS nations asked the blocs specially created bank to provide guidance on a how a potential new shared currency might work, including how it could shield member countries from the impact of sanctions such as those imposed on Russia.

Without a doubt, de-dollarization is accelerating and will continue for years to come, said Vishnu Varathan, head of economics and strategy at Mizuho Bank Ltd. in Singapore. The US made a calculated decision to use the dollar to inflict pain, and theres likely to be long-term consequences.

Welcome to National Doughnut Daya nightmare for dieticians but a breakfast food even the most divided of nations can agree upon.

Every year, the first Friday of June marks the celebration of this most wonderful of pastries. Started in 1938 by The Salvation Army, National Doughnut Day began as a fundraiser to help the needy and to honor the women who served doughnuts to the soldiers during World War I. Today, its a great excuse to find some free foodand wear your loose pants.

Whether you take them jelly-filled, chocolate coated or just plain glazed, doughnuts are an important part of Americas food pyramid. And, today, you can find plenty of freebies and other celebrations of the fried-dough treat.

Dunkin

Get a free classic doughnut with the purchase of any beverage. (Sadly, no specialty doughnuts are included in the deal.)

Krispy Kreme

Need a sugar fix? Walk into any Krispy Kreme today and you can get one of any doughnut for free. No purchase necessary.

Hungry for more? Buy one dozen and you can get another dozen glazed for $2.

Duck Doughnuts

Visit a Duck Doughnuts and you can grab a free cinnamon-sugar doughnut today. Or get $3 off a party box when you order online (use code PARTY23).

Dapper Doughnut

In one of the longest lasting Doughnut Day deals, you can get a free half-dozen cinnamon sugar or powdered sugar doughnuts with any purchase from today through June 4. If you buy in-store, thats valid with any item. Online will require a $5 purchase.

Honey Dew Donuts

Buy a drink, get a doughnut for free.  

Shipley Do-Nuts

Shipley is putting a time limit on its Doughnut Day offering. Get to the store before noon local time for a free glazed. If youre ordering online, you can still get one, but youll need to use the code Donutday23.

Tim Hortons

Use the Tim Hortons app to buy any beverage (or do so online) Friday and youll get a free doughnut along with it.

LaMars Donuts

You not only get a free glazed doughnut at this chain today, customers will also get a free T-shirt, while supplies last.

Paying with plastic and digital wallets has significantly reduced the pain of paying that comes with using physical cash and, as a result, makes it easier to lose track of exactly how much youre spending and reduces the amount of time you have to think about whether a particular good or service is worth the money youre spending. 

After reflecting on my own spending habits, I decided to challenge myself to a three-day spending fast as a way to hit reset on my money habits and, hopefully, make a bit more progress on my financial goals. 

Spending fasts, explainedand how mine helped me cut out unnecessary spending  

A spending fast, sometimes called a spending freeze, is when you vow to not spend any money for a set period of time, usually for the purpose of saving extra money or hitting a key financial goal. Typically, this means eliminating all of your discretionary spending and redirecting those funds toward your savings account, debts, etc. 

I set out on my own spending fast in an effort to make a larger monthly student loan payment. On an average day, I might spend about $30$40 on a mix of unnecessary purchases like coffee, takeout, online shopping, dining out with friends, and other non-essentials. This means that in an average three-day period, I could easily spend about $90$100, sometimes more, on expenses that arent serving me or helping me hit my financial goals. 

During my spending fast, I went three days without spending. And to my surprise, I found it easier than I had originally anticipated. Before starting my fast, I tried to think through some of my spending weaknesses and eliminate those ahead of time. This includes my morning coffee run and lunch order. Rather than ordering my daily coffee and lunch salad, I stocked up on supplies to make these items at home for the duration of my fast, which came out to a total of about $15, all-in-all. Spending that $15 upfront meant that I could skip my daily orders that usually total around $20 per day. I also skipped dining out with friends, and instead found a way to have that social time without breaking the bank. I opted to make use of some of the food I already had in my refrigerator and prepared a meal for myself and a friend at home. 

Throughout the three-day period, I did end up spending on two different occasionsonce to fill my gas tank and a second time to pay for a medical co-pay. I wouldnt call these instances a failure. For my lifestyle, these are non-negotiable expenses, and I anticipated that I would need to cover these expenses ahead of time, so I set aside funds in my savings account to cover my $50 copay, and the $45 I spent to fill my gas tank 

Why experts say a financial fast works 

A spending fast can certainly be effective, but it may not be the perfect approach for every kind of spender. In the short term, a spending fast can help you save extra money, but the idea is also to hit pause on your spending altogether so that you can better identify which habits are putting a dent in your budget and getting in the way of your financial goals. 

A spending fast can be an effective tool to temporarily reset your spending habits, gain financial awareness, and achieve short-term financial goals. I believe it can help you save going forward if during your spending fast you can recognize the spending habits that are really providing you great value and others that can be eliminated, says Cara Macksoud, Certified Financial Behavior Specialist and CEO of Money Habitudes, a system that helps people better understand their money personalities. 

Macksoud does note that this kind of strategy is not sustainable for a long period of time. Instead, its more of a financial reset thats meant to supercharge your savings in a short period of time and help you pinpoint the money habits that are helping or hurting you. 

Setting yourself up to thrive 

If youre hoping to embark on your own spending fast, there are a few key steps you should take before and after your fast to set yourself up for success and get the most out of your experience. 

1. Consider your goals. Abstaining from spending is no easy feat, and you may find it easier to stick to your fast if you have a clear idea of what youre fasting for. Are you hoping to make a larger credit card payment this month? Perhaps youre hoping to put some extra money into your vacation fund. Having clear goals can help you determine how long you should fast for and keep you accountable and motivated. 
2. Start small. Your fast is only effective if you can stick to it. And, if youve never attempted a spending fast before, or you set strict guidelines for yourself right out of the gate, you could fall off the wagon fairly quickly. Personal finance is so emotional to begin with, and if you attempt a spending fast without good parameters for yourself that fit your lifestyle you can sabotage yourself, which actually leads to more reckless spending, says Macksoud. I always advise people to start small: instead of planning one large spending fast try a really short onelike a day or even during an outing where you know you would often spend unnecessarily. If successful, you can build on those skills for the future and get the long-term results you are seeking.
3. Make a list of what you will and will not allow yourself to spend on. A spending fast calls for the elimination of unnecessary spending, but necessary expenses are perfectly fine, and what you consider a necessary expense will be unique to you and your lifestyle. Before you begin your fast, make a clear list of what youll allow yourself to spend on. That might include gas for your vehicle or any health-related costs. Think carefully about what is negotiable vs. non-negotiable so that you arent making spending decisions in the moment. 
4. Allow yourself time to reflect on your experience. Once youve completed your fast, take some time to think about what worked and what didnt. Did you make an impulse purchase? Did you find that you were more tempted to spend than usual? Should you consider a different kind of saving strategy? The goal is to spend less, and if this kind of method isnt for you, it may be time to consider a different approach. A spending fast may not be suitable for everyone, says Macksoud. An alternative may be to focus on other budgeting strategies that suit your specific situation or seek financial counseling that will be much less abrupt and more therapeutic. Depending on your personal circumstances there is no one size fits all in getting your spending under control; you may need to try a few options before you find the right method for you. 

The takeaway 

With a little pre-planning, a spending fast can help you get your financial house in order by helping you identify and eliminate counter-productive money habits. However, the key to doing this successfully is to set clear goals and rules ahead of time, and be honest with yourself about what worked and didnt work after the fact to help you form healthier habits.