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Just under a year before what is now the Carrier Global Corporation was to complete its spin-off from United Technologies, David Gitlin was elevated to the position of president and CEO of Carrier. And in the final months before that spin-off was completed, the world shut down in the face of the COVID-19 pandemic. It was a challenging start to a new CEO’s tenure by any measure, despite Gitlin’s previous…

Today, Jeniffer Ramnath spearheads innovation in her role as chief digital and information officer at the Mastercard Foundation (the Foundation), which works to advance education and financial inclusion for young people in Africa. However, she hasn’t forgotten her humble beginnings as a call center agent in a bustling, unfamiliar Gauteng, South Africa’s most populous province—nor what it takes to break through in an industry that often privileges men over women.…

In this interview, Horace Tiggs IV, a partner in McKinsey’s Detroit office, speaks with W. David Tarver, president and founder of the Urban Entrepreneurship Initiative (UEI), about spurring innovation and entrepreneurship within urban communities, how that drives economic mobility, and the challenges it faces today. They also discuss the importance of connecting entrepreneurs to ecosystems that lead to new solutions and scale. This transcript has been edited for clarity and…

In an era when digital experiences are closely tied to customer loyalty and financial success, credit unions stand at a crossroads. In a 2024 article, we spotlighted the growing chasm between credit unions and their competitors, a gulf that’s particularly noticeable among younger generations. Despite credit unions’ inherent advantages over banks, such as stronger member relationships and community ties, they are losing ground in the digital space.Furthermore, changing demographics spell…

Let’s look at the next chapter of AI—agentic AI, and how it could unlock the next generation of operational excellence and productivity in service operations. We dig into the high stakes of continued investment in digital transformation and the potential payoffs. We discuss collaborations between the chief information officer (CIO) and COO, and how thoughtful talent strategies can set organizations up for continued digital success.In this episode of McKinsey Talks…

Although the momentum has slowed in recent years, a large share of leading companies around the world have set bold decarbonization targets, and in the coming years, many will need to tackle the Scope 3 emissions linked to the materials embedded in their products. This article, which focuses on glass—particularly the flat glass industry—is part of a series of articles on how materials industries can decarbonize and increase circularity, offering…

Across the copper value chain, companies are setting ambitious targets to reach carbon neutrality in the next decade. This push for decarbonization coincides with increasing demand for copper—driven by the metal’s significance in future-facing applications such as batteries, renewable energy, and electricity transmission and distribution—as well as restricted supply. In fact, the world is expected to face a refined-copper shortfall of about 3.6 million metric tons (Mt) by 2035, according…

In today’s volatile environment, transformation at scale is more critical than ever for leaders looking to achieve a lasting performance advantage. Our research shows that one way to gain and sustain that advantage is to upgrade the procurement function. We analyzed thousands of companies’ transformation results across more than 340,000 transformation initiatives, which collectively represent more than $200 billion in value (see sidebar, “Scope of analysis”). We find that procurement…