What role will generative AI play in the future of work? What should we do now to ensure that employers and workers are prepared? Gen AI could automate almost 10 percent of tasks in the US economy, but there are also opportunities to empower employees through upskilling and reskilling, say McKinsey's Kweilin Ellingrud and Saurabh Sanghvi.
How can leaders create value in the net-zero transition amid challenges such as high energy prices, supply chain pressures, and increased interest rates? Companies that take disciplined and courageous action on both resilience and sustainability have a unique opportunity to differentiate themselves from organizations that focus on just the short-term shocks, or those that step back from their sustainability commitments, write McKinsey’s Laura Corb, Anna Granskog, Tomas Nauclér, and Daniel Pacthod.
Innovation is the key to growth and resilience and companies that are ahead on new digital technologies like generative AI could help them stay ahead of the curve. But in a rapidly changing world, when and how innovative companies deploy gen AI is what distances them from their competitors.
Growth, inclusion, and sustainability are all parts of a complex yet connected system. What would it take for these forces to work together to economically empower communities and contribute to a greener planet?
Generative AI has taken the world by storm over the past year. How can companies stay ahead of it? “Speed is often a strategy in and of itself. So those who run faster will win over time,” explains McKinsey senior partner Alex Singla.
Middle managers are often underappreciated and the subjects of negative stereotypes in popular culture. They are viewed as cogs in an organization’s bureaucracy, whose primary job is to take directives from senior leadership and push paper. In reality, managers play a critical role in developing talent, promoting connectivity across teams, and creating value for organizations.
Since the pandemic, the way we think about work has dramatically evolved—remote and hybrid work have become commonplace and companies are quickly adopting automation technologies such as generative AI. Meanwhile, a remarkable number of workers in the US are changing jobs—more than 8 million occupational shifts took place from 2019 through 2022 and an additional 12 million occupational shifts are expected by 2030. How should we make sense of all of this?
If you’re looking for book recommendations for your downtime or an upcoming vacation, this year’s summer reading guide has got you covered. Browse through 70-plus books in nine genres selected by CEOs, editors-in-chief, and other leaders, including McKinsey’s Bob Sternfels, Tracy Francis, Sven Smit, Homayoun Hatami, Pierre Gentin, Rodney Zemmel, and Joydeep Sengupta, and you’ll be sure to find something that satisfies your interests.
With generative AI developing at lightning speed, company executives and employees are anxiously exploring its possibilities, values, and risks. But what role should a company’s board of directors play to get ready for what lies ahead?
While efforts have been made to advance racial equity in the workplace, fair and equitable progress has been hard to achieve. In order to move the needle on racial equity, it is crucial that we understand the varying needs of different groups, in addition to individuals with multiple “identities.”
AI has undoubtedly become a major force in our everyday lives. And with the recent rise and early adoption of generative AI, more and more people are grappling with how it will impact our work and society at large.
McKinsey’s long-term aspiration is to accelerate sustainable and inclusive growth for the world. That means the firm is committed to creating positive, enduring change in the societies where we live and work. Our 2022 ESG Report: Creating a More Sustainable, Inclusive, and Growing Future for All, which is now available for download, details our progress toward these commitments.
It’s hard to think of a new technological breakthrough in recent years that has captured the public’s imagination like generative AI. With so much buzz around tools like Chat GPT, many of us can’t help but wonder: what does this mean for our jobs?
In the future, the launch needs of satellites could further increase due to greater space exploration, the launch of commercial space stations, and tourism, say McKinsey’s Chris Daehnick, John Gang, and Ilan Rozenkopf in a new article.
According to our latest Global Private Markets Review, private markets faced a year of two halves in 2022, with buoyancy in the first half and plummeting deal volumes, declining performance, and falling valuations in the second.
Leaders need clarity on what works to improve diversity, equity, and inclusion. Our 2023 report shows success factors that contributed to significant, quantifiable, scalable, and sustainable DEI impact.
How many more years can be spent in optimal health if our society viewed mental and substance-use disorders as we do other conditions? The McKinsey Health Institute and the Healthy Brains Global Initiative collaboration sought to answer this question through a series of interactives.
Behind every great CEO, there’s a great COO. After a few years out of vogue—in 2018, only 32 percent of Fortune 500 companies had one—the COO is back in a big, bold way. Nearly half of Fortune 500 companies in the energy and financial sectors have COOs in 2022.
Put away your crystal ball. For enterprise organizations, the metaverse has the potential to help predict what's next with tremendous precision through mass simulations and artificial intelligence technologies.
McKinsey reveals 35 cutting-edge companies in the industrial tech sector, highlighting a robust “titanium economy” that creates American jobs and fuels innovation through sustainable, inclusive growth.
For many companies, getting employees back into the office has been a challenge. Employees want in-person connectivity—younger folks, especially—but they want flexibility at the same time. And the commute can be—well, daunting.
You may have seen the stunning new images captured by the James Webb Space Telescope last week. Space is an endlessly fascinating topic, and there is a lot of excitement and activity surrounding it, especially in recent years.
Human capital—the strength of all the collective knowledge, attributes, skills, experience, and health of its workforce—is the most vital resource for any organization or economy. Individuals accumulate human capital throughout their working lives, and taking on new roles helps them become upwardly mobile.
The metaverse: So much has been said about it, but what is it exactly? Although many continue to debate its definition, the metaverse can be characterized as an evolution of today’s internet—and an opportunity for marketers to engage consumers in new ways via immersive digital worlds.
When it comes to flying, business trips have always been crucial to the airline industry. Before the pandemic, corporate trips made up about 12 percent of air traffic but accounted for about half of the airline sector’s profitability in the US.
It’s no surprise that sustainability is on the minds of both companies and consumers. Many companies have made public commitments to sell goods that have less impact on the environment, and consumers want to buy products made from recycled plastics.
As industries and governments around the globe look toward a net-zero future, the road to decarbonization will be a challenge, particularly for sectors that produce the majority of global greenhouse-gas emissions.
The war in Ukraine continues to have devastating consequences—particularly for vulnerable populations, both within the conflict zone and beyond. Now, the war is converging with other disruptions—supply-chain strains, inflation, the pandemic—to pose a looming threat to our global food supply.
As more institutions step up in their commitments to achieve net-zero emissions of greenhouse gases, new business opportunities are emerging. In a net-zero future, there will be more demand for climate-friendly goods and services, and companies will tilt away from investing in high-emission assets.
Why is Gucci getting into gaming? For the same reason Louis Vuitton, Ralph Lauren, and other high fashion brands are linking up with the $176 billion industry. Shoppers—especially those in Gen Z—are spending more time than ever before in virtual spaces, or “second worlds.”
Who doesn’t want to live a happier, healthier life? While we’ve made incredible progress in human health over the past century, there’s so much more we can do to improve the quality of life for everyone.
The climate crisis is top of mind for many leaders. And while the world has seen promising developments in promoting a sustainable future, including country- and company-level commitments and rising attention from investors, net zero is not currently in sight.
For many organizations, traditional talent-resourcing models no longer work. The disruption to business models prompted by the pandemic made it clear that companies need to get better at utilizing employees’ existing skills and capabilities. How can you prepare for the future of work and improve organizational speed and responsiveness?
In the next decade, the world may see more progress than in the past 100 years, and organizations need to watch how technology is reshaping health and materials sciences, energy, transportation, and myriad other industries and domains.