Open data: Unlocking innovation and performance with liquid information
Open data—public information and shared data from private sources—can help create $3 trillion a year of value in seven areas of the global economy. Open data—machine-readable information, particularly government data, that’s made available to others—has generated a great deal of excitement around the world for its potential to empower citizens, change how government works, and improve the delivery
Why diversity matters
The business case for inclusion and diversity (I&D) is stronger than ever. Taking a closer look at diversity winners reveals what can drive real progress. McKinsey has been examining diversity in the workplace for several years. Our latest report, Diversity Matters, examined proprietary data sets for 366 public companies across a range of industries in Canada, Latin America, the United Kingdom, an
Skill shift: Automation and the future of the workforce
Demand for technological, social and emotional, and higher cognitive skills will rise by 2030. How will workers and organizations adapt? Skill shifts have accompanied the introduction of new technologies in the workplace since at least the Industrial Revolution, but adoption of automation and artificial intelligence (AI) will mark an acceleration over the shifts of even the recent past. The need f
Ten red flags signaling your analytics program will fail
How confident are you that your analytics initiative is delivering the value it’s supposed to? These days, it’s the rare CEO who doesn’t know that businesses must become analytics-driven. Many business leaders have, to their credit, been charging ahead with bold investments in analytics resources and artificial intelligence (AI). Many CEOs have dedicated a lot of their own time to implementing ana
Debiasing the corporation: An interview with Nobel laureate Richard Thaler
Two years later, or five years later, when things have played out, and it turns out that a competitor came up with a better version of the same product that we all thought was a great idea, then the CEO is going to remember, “I never really liked this idea.” One suggestion I make to my students, and I make this suggestion about a lot of things, so this may come up more than once in this conversati
What next for blockchain?
The conversation around blockchain is changing. We’re only now starting to understand this technology’s full potential, says one executive. Bitcoin isn’t mainstream yet, and some skepticism of the digital currency remains. But the buzz surrounding the technology underlying it—blockchains—has started to take a different tone. Blockchain, headquartered in Luxembourg, is a company that provides a sof
What every utility CEO should know about blockchain
Blockchain technology can streamline transactions along the utility value chain. Here is a look at six emerging applications. Bitcoin has attracted wide interest in recent months, but it’s blockchain—the technology that underpins bitcoin and other cryptocurrencies—that has the potential to remake important aspects of the utility industry. Leading utilities have begun to ask how they could take adv
Achieving business impact with data
The best analytics are worth nothing with bad data. The importance of understanding and working on all components of the insights value chain is mission critical. An anticipated drop in the cost of Internet of Things (IoT) nodes (for example, microcontroller units and sensors) is fueling the rise in available data. Advances in machine learning, data science, and computing power can turn these vast
The future of connectivity: Enabling the Internet of Things
With new connectivity technologies unlocking opportunities along the IoT value chain, companies must create detailed plans to harness their potential. The Internet of Things (IoT)—the network of connected “smart” devices that communicate seamlessly over the Internet—is transforming how we live and work. At farms, wireless IoT sensors can transmit information about soil moisture and nutrients to ag
Artificial intelligence: Construction technology’s next frontier
Artificial intelligence: Construction technology’s next frontier Engineering and construction is behind the curve in implementing artificial intelligence solutions. Based on extensive research, we survey applications and algorithms to help bridge the technology gap. The engineering and construction (E&C) sector is worth more than $10 trillion a year. And while its customers are increasingly sophis
The CEO of Guardian Life on talent in an age of digital disruption
The CEO of Guardian Life on talent in an age of digital disruption By rethinking its approach to talent management and introducing agile working practices, the company aims to stay a step ahead of disruptive competitors. Founded in 1860, The Guardian Life Insurance Company of America is one of the largest US mutual life insurers. Yet history and scale offer only limited protection against technolo
A CEO guide for avoiding the ten traps that derail digital transformations
Business leaders are in a high-stakes game. Many have embarked on programs to reinvent their businesses. The rewards for success are enormous, while the consequences of failure are drastic, even lethal. They could do worse than look to a quote from one of the most successful race-car drivers in history, Mario Andretti: “If everything seems under control, you’re not going fast enough.” While Andret
Behavioral science in business: Nudging, debiasing, and managing the irrational mind
Behavioral science in business: Nudging, debiasing, and managing the irrational mind Behavioral science has become a hot topic in companies and organizations trying to address the biases that drive day-to-day decisions and actions. Although humans are known to be irrational, they are at least irrational in predictable ways. In this episode of the McKinsey Podcast, partner Julia Sperling, consultan
Unlocking value from IoT connectivity: Six considerations for choosing a provider
Companies must take a more nuanced look at connectivity providers as the Internet of Things evolves. The Internet of Things (IoT) is growing rapidly, with 127 new devices connecting to the Internet every second. Although many new applications target consumers, including smart-home systems and connected cars, others help companies optimize operations ranging from manufacturing to customer segmentat
Reimagining software services for the cloud and the digital world
The role of the services organization must also match the company’s goals. A vendor with new products may need the organization to play a greater market-making role by helping to increase their rate of adoption. But a software vendor with a mature product line may instead need a services organization that helps the vendor’s partners provide third-party services to the vendor’s customers. Leaders m
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https://www.mckinsey.com/~/media/McKinsey/Industries/Advanced%20Electronics/Our%20Insights/How%20artificial%20intelligence%20can%20deliver%20real%20value%20to%20companies/MGI-Artificial-Intelligence-Discussion-paper.ashx
https://www.mckinsey.com/~/media/mckinsey/business%20functions/mckinsey%20digital/our%20insights/digital%20reinvention/digital%20reinvention.ashx
Where is technology taking the economy?
Five Fifty: Platform plays
https://www.mckinsey.com/~/media/McKinsey/Featured%20Insights/Artificial%20Intelligence/Notes%20from%20the%20frontier%20Modeling%20the%20impact%20of%20AI%20on%20the%20world%20economy/MGI-Notes-from-the-AI-frontier-Modeling-the-impact-of-AI-on-the-world-economy-September-2018.pdf