Discussing the future of AI-powered personalization
At Cannes Lions, McKinsey partner Eli Stein and Jasper CMO Loreal Lynch explore unlocking AI value at scale and building personalization that performs.
Reinventing apparel manufacturing for speed, growth, and sustainability
Emerging trends, shifting demands, and growing supply chain complexity are reshaping the landscape for apparel manufacturers. McKinsey partner Javier del Pozo shares his thoughts on moving forward.
What is a data center?
A data center is a facility that houses and runs IT infrastructure that’s critical to the digital economy, particularly gen AI.
Unlocking Switzerland’s potential: The rise of online marketplaces
Thanks to a confluence of factors, Swiss online platforms could be positioned for accelerated growth.
How public-company boards can thrive by adopting private equity practices
Public-company boards can boost their effectiveness by embracing key strategies from the private equity playbook to enhance value creation and long-term impact.
What is the Financial Services Compensation Scheme (FSCS)?
Protecting your money when financial firms fail
Piotr Owczarek: Can Human Creativity Exist Alongside AI’s Generative Potential?
Prometheus's gift of fire to humanity ignited progress but came at a personal cost. Today, businesses face a similar crossroads with generative AI: harness its power wisely or risk unforeseen consequences. By: Piotr Owczarek As AI revolutionizes industries, what becomes of human creativity? More businesses of all sizes begin to adopt generative AI, changes in the workforce become apparent. Many jobs eliminated as automation in the fields of graphic…
How much do we spend during the festive season?
An average household in the UK spends more than £700 extra in December than in other months
A (casual) Interview with Helena Naaman, General Manager of ‘Accountants in Cyprus’ and ‘Lawyers in Cyprus’
When someone searches over the Internet for very important (and difficult to rank) terms such as 'Lawyers in Cyprus', 'Accountants in Cyprus' and other similar, they get some very interesting suggestions as search results, 2 being managed by Sedinvest Enterprises Ltd. The 2 sister websites, Accountants in Cyprus and Lawyers in Cyprus' are the 'brainchilds' of Helena Naaman, a businesswoman who, if you are a lawyer or accountant in Cyprus…
What are stablecoins and how do they work?
Stablecoins are a form of digital asset that can be used to make payments. They tend to be less volatile than cryptoassets. That is because their value is tied to other, stable, assets.
A (casual) Interview with Pavlos Loizou, CEO of ASK WIRE
Real estate is the ultimate Asset and nobody knows real estate better than Pavlos Loizou, the CEO of Ask Wire. We asked everything from real estate to AI, food and the Royal Family. He delivered perfectly. Where would you invest 1 million euros in real estate right now (any country), and why? I would invest in an ETF, i.e. a financial instrument that invests in funds that own real estate.…
Cyprus: Additional annual leave days for employees with children
Paternity leave Paternity leave remains at two weeks and may be taken within the period from the week of the birth or adoption and up to two weeks after the end of the maternity leave period. The paternity leave can also be claimed in the case of a stillborn child. If the mother passes away before or during childbirth or even during maternity, then any remaining maternity leave not claimed…
Redefining life insurance: An interview with Nichole Lecher
Buying life insurance can be a long, uncomfortable process for consumers. Northwestern Mutual, a 166-year-old company, decided to change the paradigm by building an automated, efficient, and clear solution. In this episode of the McKinsey on Insurance podcast, Eli Larrea, a senior partner in McKinsey’s Boston office, sat down with Nichole Lecher, Northwestern Mutual’s vice president of client experience, strategy and journeys. They discuss the purpose of this transformation, the…
The lessons I’ve learned as an entrepreneur
Over the past few months, I have shared more than 30 personal stories that helped shape my professional journey through my ‘Series of an Entrepreneur’. And as I’ve seen in the responses, these experiences, and accompanying lessons, transcend far beyond the consulting industry. We all experience failures, make missteps, endure bad days, weeks, months, even years. And we also, hopefully, experience success, see the reward of good decisions, and hit…
Recognizing 5 DEIB Influencers in Unexpected Places
Picture this: a world where workplace culture is transformed not just by well-known DEIB influencers, but by unexpected heroes who wield the power of diversity, equity, inclusion, and belonging (DEIB) in their own unique ways. DEIB are increasingly recognized as crucial components of a successful workplace culture, and we recognize these individuals who may not typically be associated with the DEIB space, yet their contributions are critical to the success…
The Incumbent’s Deep Tech Strategy Playbook
Deep tech — the innovative use of emerging physical technologies enabled by digital technologies to solve large-scale problems — has the potential to create transformative growth opportunities for businesses. By tapping into these advanced technologies, leaders are better positioned to address large-scale problems and reshape entire markets. Consider the impact of synthetic biology; by 2030, this rapidly advancing field could affect industries that account for as much as 30% of…
Deep Dive with Avinash Srivastava
Our Deep Dive series features our technical experts who give you an inside look at how we are solving complex infrastructure challenges for our clients from across the world. This week, we are highlighting our global director of urban analytics from our Buildings + Places business and how he and his team have used their skills to help develop The Point Utah, a 600-acre innovation district outside of Salt Lake…
Making government an even better place for women to work
When it comes to women’s representation in the US workplace, the public sector continues to have a clear edge over corporations. However, new McKinsey research finds that governmental organizations may struggle to keep leading the way toward gender parity. The latest edition of our annual Women in the Workplace report reveals that the public sector lags private-sector organizations in critical areas that could help curb burnout and attrition among women…
Why did I bother coming in?
Why did I bother coming in? – Reimagining the role of the office and our working patterns It’s a no-brainer that the expectations of the workforce have shifted so dramatically that different working patterns are now no longer a ‘nice to have’ but a non-negotiable. Organisations need to quickly adapt to a more distributed world. Going forward, asking your people where and how they work best will be vital to attract…
Key considerations for fintech providers
In many cases, fintech providers themselves will also need to ensure compliance with certain regulatory regimes as well as helping their customers to do so. In this article, we provide an overview of some key regulations fintech providers should be aware of when offering services to their regulated customers, including new obligations under the Digital Operational Resilience Act (“DORA”), the revised Directive on security of network and information systems (“NIS2”)…
How Long Does a Lawsuit Take?
When a client has asserted a claim against someone and we are unable to negotiate a voluntary resolution, we have to start thinking about plan B—filing a lawsuit to vindicate the client’s rights. Invariably, the client’s first questions are: how much will it cost, and how long will it take? The answer to the first question can vary enormously, but most clients are not terribly surprised to hear that it…
Balancing Valued Tradition With Innovation
Sooner or later, most successful companies face the challenge of updating a cherished old product. Make no changes, and you risk becoming irrelevant to new customers. Change too much, and you may alienate your most loyal customers. So how do you leverage a historically strong brand with sensitivity to heterogeneous customer preferences? To explore this question, we studied Italian opera companies, which face this dilemma every season. Many of the…
Pensions Update: Spring 2023
Master trusts – Applicability of Pension Adjustment Orders (“PAOs”) An ongoing issue in respect of master trusts is the applicability of pension adjustment orders (“PAOs”) made prior to a scheme transferring to the master trust. These orders would have been made by the Court in relation to the original pension scheme and served on the original scheme trustees. A question has arisen as to whether master trust trustees can administer…
EU Commission publishes the first list of very large platforms to fall under the EU’s Digital Services Act (DSA) stricter regime
EU Commission publishes the first list of very large platforms to fall under the EU’s Digital Services Act (DSA) stricter regime The European Commission has confirmed 19 online platforms and search engines identified as ‘very large online platforms’ (VLOPs) and ‘very large online search engines’ (VLOSEs) for the purposes of the EU’s Digital Services Act (DSA). Such companies must comply with the most stringent rules of the DSA. Online service…
Invest in the Metaverse for first-mover advantage
The Metaverse and its associated technology have raised concerns from its inception. But the objections often take short-term, attention-grabbing views that discount the potential of the technology, and the need for early adoption for any emerging tech or business looking to innovate in the space. So, whilst this recent critique of the Metaverse from Business Insider is nothing new, it’s an important one to analyse. The challenges presented in the…
R and D Tax 101
We speak to companies every day who don’t believe the UK’s R&D incentive schemes apply to them. In reality, the definition of R&D for tax purposes covers a much broader range of activities than you might think, and some of your everyday activity could likely qualify as well. The schemes weren’t only created to incentivise scientists and the more traditional ‘research & development’ heavy industries. They’re designed to apply to…
UK Local elections 2023 – what have we learned?
Greg Campbell assesses the impact of the May 2023 local elections, held in 230 councils in England, and draws out key lessons and questions. When a party leadership projects a number of election losses, they believe the reality will be appreciably less bad so they can claim a ‘victory’. Greg Hands, Conservative Chair, claimed to expect the loss of 1,000 seats – presumably anticipating perhaps 500-700 losses. The actual loss…
Empowering Inclusion: The Power of Assistive Technology and Digital Accessibility
In today’s digital age, technology has transformed the way we live, work, and interact with the world. However, not everyone benefits equally from these advancements. Many individuals with disabilities face barriers to accessing and utilizing digital platforms and technologies. This is where assistive technology and digital accessibility come into play, bridging the gap and empowering inclusivity for all. In this blog, we will explore the significance of assistive technology and…
Court Provides Guidance Regarding Employer Vaccine Mandates
Seyfarth Synopsis: In a published decision, a California Court of Appeal has ruled that a hospital’s decision to terminate an employee for failing to comply with its flu vaccine mandate did not violate California’s Fair Employment and Housing Act (FEHA) prohibition on disability discrimination. Hodges v. Cedars-Sinai Medical Center. The Facts Deanna Hodges was employed by Cedars-Sinai Medical Center (Cedars) in an administrative role with no patient care responsibilities. As…
The beauty market in 2023: A special State of Fashion report
In 2022, the beauty market—defined as skincare, fragrance, makeup, and haircare—generated approximately $430 billion in revenue. Today, beauty is on an upward trajectory across all categories. It has proven to be resilient amid global economic crises and in a turbulent macroeconomic environment. Beauty is now an industry that many people, from top-tier financiers to A-list celebrities, want to be a part of—and with good reason. Following a solid recovery since…
The Pain of Honest Evaluations
People are funny. We reason with ourselves that we want the truth, but we prove time and again that we prefer being lied to. If your gut reaction to that statement is defiance, there is a strong chance that you’re lying to yourself about your own emotions. This article isn’t about the psychology of our rational versus emotional processing, but I mention it because we must be aware of this…
Global Economics Intelligence executive summary, April 2023
Inflation continues to moderate in multiple regions and countries but remains high, and central banks look set to maintain a path of interest rate interventions. However, interest rates and sentiment are weighing on growth projections and the picture is somewhat patchy, with growth in some emerging economies such as China and India outpacing developed economies. In developed economies, the United States saw the Federal Reserve revise down its latest economic…
The HR Landscape: Economic challenges starting to bite British workforce
The British workforce is experiencing a noticeable shift. Even before the pandemic, the UK had been grappling with productivity problems. Now, the post-pandemic landscape has brought new challenges such as ‘burnout’, ‘quiet quitting’, and ‘Great Fatigue.’ This has led to questions about a motivation freefall in the workforce. It’s not hard to understand why. People in the UK are grappling with a cost-of-living crisis, diminishing public services, and continued political…
In the near term, commercial real estate may not hedge inflation
Commercial real estate (CRE) has long enjoyed a reputation for being a good hedge against inflation, yet even industry veterans might be hard-pressed to explain exactly why. Has it delivered better real (inflation-adjusted) returns during inflationary periods than at other times? Has it outperformed other asset classes during inflationary periods? With inflation at 40-year highs, we decided to perform a data analysis of CRE’s inflation-hedging attributes. Our goal: a definitive…
Climate Action Litigation: Where is it headed?
Recent years have seen private individuals and NGOs increasingly using the courts to enforce rights in the climate sphere. This seems to be a trend that is only going on one direction and represent a risk of which Governments and corporates alike are going to need to be increasingly aware. Members of the Arthur Cox ESG practice recently explored developments in this area with colleagues from the Netherlands, Germany and…
Bed Bath & Bankruptcy: Lessons for Senior Leaders
Bed Bath & Beyond (BB&B) finally filed for bankruptcy on April 23, 2023, after surviving a near-death experience earlier in the year thanks to a last-minute equity infusion from an opportunistic investor. The termination of that agreement and the subsequent failure to raise sufficient capital through new share issuance and other financing techniques meant that the company had exhausted the capacity of creative financial engineering to stay in business. The…
Looking into the AI crystal ball
Looking into the AI crystal ball 14 March 2022 by Linda Sheehan With 2023 in full swing, it is clear that AI will continue to play an increasingly significant role in the business landscape. The demand for AI solutions and data-driven insights is on the rise, as businesses of all kinds seek to make more informed decisions and gain a competitive edge. One emerging trend is the integration of traditional…
The AI and ChatGPT Boom: What You Need to Know
Chances are, you’re hearing a lot of hype around AI. However, there’s a fine line between hype and distraction. To keep up in the rapidly evolving digital landscape, it’s critical that consultants understand how AI can enhance and facilitate their work. In fact, we predict that professionals who learn and leverage AI and ChatGPT will eventually put pressure on those who don’t. So, what do you really need to know…
Strengthen your organisation by addressing the weakest links
Conventional wisdom says that building on the strengths of an organisation is the most direct path to business success. It’s also the foundation of most value growth plans and talent management, which focuses on increasing the performance of high-performers. But leaders continue to scratch their heads as despite all their well-intended efforts to build on strengths, their organisations still fail to deliver. How come? It is because with organisations, you…
New research from Elixirr: How do CEOs and athletes compare?
Research released by Elixirr reveals how both C-level and professional sportspeople achieve success in their fields, with both CEOs and professional athletes believing that being more mentally resilient than their competitors is the top driver of high performance. While the physical requirements of elite athletes are revered and celebrated, the intangible demands of business leaders are less often recognised. Yet, both CEOs (94%) and professional sports players (99%) put a…