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This transcript has been lightly edited for clarity.Scott Woodruff: We're seeing a range of trends that are changing, and in some cases disrupting, the way companies develop and commercialize products. One trend is the influx of technology. Advances in AI and generative AI are really having an impact across the end-to-end development process, driving faster time to market and better product results. The second trend is packaging rising to the…

This transcript has been lightly edited for clarity.What are the most significant impacts of AI and gen AI on supply chain planning and execution? What can we learn from leaders who have successfully scaled these innovations? I think today we’re finally at a time when gen AI is more than just hype. I’ve seen this play out in the supply chain across industries, and there are three important use cases…

The US healthcare system has long been lauded for its innovation and high caliber of talent. But alongside these accomplishments are some major downfalls. Healthcare in the United States is expensive—for individuals and companies—and it’s only getting pricier. The healthcare system has relied on the same organizational structures and processes for treating patients for more than 100 years, even though the world has changed exponentially around it. And although innovative…

As chief people and sustainability officer for Xylem, a global water solutions provider, Claudia Toussaint has helped oversee an operating model transformation that is on track to meet its strategic goals. In an interview with McKinsey Senior Partner Brooke Weddle, Toussaint discusses how analytics and other tools—including tiny robots that can crawl through pipes to warn of potential water breaks—reflect the company’s sustainability principles and bring value to customers. Toussaint…

This transcript has been lightly edited for clarity.Amid disruptions, where are the biggest opportunities for improvements in customer service? Services represent 60 percent of the $100 trillion global economy, and they are at a pivotal moment now. For service organizations to stay ahead, there are a few big opportunities they cannot miss. First is the realization that the era of incremental improvements is over. Service institutions have a unique opportunity…

Pickleball, padel—yes, they’re hot. Nevertheless, a third of the world’s adults are inactive—and among youth, inactivity is even more pronounced, according to McKinsey Partner Alexander Thiel. In this episode of The McKinsey Podcast, Alexander joins Global Editorial Director and Deputy Publisher Lucia Rahilly to discuss this year’s whipsawing consumer trends, as well as what sporting goods leaders can do to harness them to combat slowing growth.The McKinsey Podcast is cohosted…

Energy demand in the United States is projected to grow roughly ten times as fast in the coming decade as it did over the past ten years. This is largely driven by electrification, data center load growth, and increased demand from the manufacturing sector. While renewables are expected to make up a significant share of the new supply to meet this demand, they are not enough: To reliably deliver power…

Every chief operating officer (COO) knows this simple truth: Delivering the company’s strategy isn’t just part of the job—it is the job. While there are many paths to achieving that goal, none can succeed for long without increased productivity, the foundation for financial performance and economic growth. Since the 2008 global financial crisis, global productivity growth has largely declined around the world. Even before the crisis, advanced economies’ productivity growth…

The global asset management industry is at a critical juncture. Longstanding tailwinds —primarily in the form of low interest rates and stable GDP growth—have changed direction, compounding ongoing challenges presented by the shift from active to passive and traditional to alternatives. Together, these trends are forcing firms to discover more sustainable pathways to outperformance. After a decade of unprecedented market growth, industry costs have become increasingly sticky and revenues unpredictable.…

Findings from economic geographer Bent Flyvbjerg, editor of The Oxford Handbook of Megaproject Management (Oxford University Press, June 2017), confirm a stark reality: Out of a database of 16,000 projects, only 8.5 percent met their cost and schedule targets, and a mere 0.5 percent achieved all promised benefits. This phenomenon, which he calls the “iron law of megaprojects,” underscores that underperformance is the norm. We agree, as our in-depth review…

For generations, automotive OEMs sought to distinguish themselves in the marketplace through the styling, quality, and performance of their cars. Another front, software development, is now a top priority. As cars have become more reliant on software to enable required systems and functions as well as to create a distinctive customer experience, conventional OEMs have struggled to keep up with development speed, quality, and cost—mainly due to their legacy setup.…