It’s the conversation that’s dominating board rooms and strategy meetings. How are firms preparing for, or already harnessing, the potential of AI for their organisation? A KPMG survey found that 65 percent of executives anticipate a significant impact from generative AI (GenAI) within the next few years, even as many firms are still in the early stages of implementation. My own survey of INSEAD alumni found that 68 percent of business…
An average household in the UK spends more than £700 extra in December than in other months
Throughout his 40-year career, Nathan Bostock has seen the financial services industry change in big ways—and has used these changes to his advantage to usher in the next era of banking. He has led multiple full-scale transformations across several companies, including during his tenure as CFO and CEO of Santander UK and during his time as chief risk officer and CFO of the Royal Bank of Scotland. In this episode…
Elvis Presley may have been the king of rock ’n’ roll, but he didn’t invent it. His influences included country music and pop crooners as well as Black artists like Arthur Crudup, B.B. King, Fats Domino, and Little Richard, and the gospel music he loved as a kid in rural Mississippi.Years later, critics would lambaste Presley for “stealing” Black music and profiting from it in ways not open to the…
The Federal Court of Appeal (FCA) recently issued its decision in the appeal of Galderma’s second judicial review of the decision of the Patented Medicines Price Review Board (the PMPRB) that it had jurisdiction over Galderma’s Differin® product. In a strongly worded decision, the FCA granted Galderma’s appeal and set aside the PMPRB’s decision, holding that the PMPRB does not have jurisdiction over the price of the unpatented Differin® product.…
The United Kingdom and Switzerland announced, in December 2023, the signing of a ground-breaking mutual recognition agreement in the financial services sector. The Berne Financial Services Agreement, its proponents promise, opens doors hitherto closed, vistas so far unexplored, and markets yet unexploited. This kind of an agreement — or something like it, or something in the ballpark, or something notionally similar — had eluded U.K. officials in the course of…
Like many industries, the upstream sector of the oil and gas industry is facing challenges on several fronts: volatile commodity markets driving higher cost inflation, geopolitical instability causing supply chain disruptions, competition for construction talent and labor in certain geographies such as North America, and increasing pressure to accelerate bringing new production online. Capital expenditure (capex) is rising as a result, calling for cost optimization and innovation in capital deployment…
A longstanding poetics workshop credited with fostering the academic success of many of its past and current members has given rise to a new center dedicated to poetry scholarship.The Stanford Center for Poetics was launched this quarter under the leadership of faculty director Marisa Galvez, professor of French and Italian. Situated within the School of Humanities and Sciences and administered by the Department of English, the center “provides a home…
On Nov. 27, 2024, just one month after many provisions of Ontario’s Working for Workers Five Act, 2024 (Bill 190) received Royal Assent, Ontario has proposed Bill 229, the Working for Workers Six Act, 2024. The new legislation, which builds upon its five predecessors, proposes changes that will affect employers, in particular to the Employment Standards Act (ESA) and the Occupational Health and Safety Act (OHSA). Key proposed changes to…
The healthcare industry has been buffeted by a growing number of challenges over the past few years. This turbulence struck provider organizations in 2022, while payers were initially sheltered from the storm (Exhibit 1). But conditions became more difficult for payers in 2023, which has continued into this year, and there’s limited respite on the horizon. Unlike the widespread challenges the provider and payer sectors have faced, the picture for…
Unexpected crises, volatility, and a generally accelerated pace of change have increasingly become the norm. But it doesn’t feel normal. For many, it feels stressful and exhausting. Think of all the very large disruptions on leaders’ agendas these days—widespread use of automation, artificial intelligence, and other technologies at work; geopolitical and global economic shifts; impacts from climate change; genomic editing and other scientific and bioengineering innovations; social justice trends; and…
What You Need to Know: As we previously reported, earlier this year a new paid prenatal personal leave entitlement was added to Section 196-b of the New York Labor Law, i.e., the New York State Paid Sick Leave Law. Beginning January 1, 2025, employers must provide at least 20 hours of paid prenatal personal leave (“PPPL”) during any 52 week calendar period, in addition to the existing statutory paid sick…
Professor Richards joins Cambridge from the University of Oxford, where he has been since 2019. His particular research interest is the demonstration of clinical proof of concept of novel therapeutics through the application of experimental medicine techniques, especially human challenge studies.As Climax Professor of Clinical Therapeutics, director of the Oxford Clinical Trial Research Unit (OCTRU), and the NIHR Oxford Clinical Research Facility, he led a broad portfolio focused on new…
Imagine a world where education isn't just about information but about inspiring awe—a spark that transforms learning into discovery. This episode of Learning Through Experience envisions this future where teaching and learning are more collaborative, experiential and empowering, for instructors and students alike. As my guest Jenny Frederick, director of Yale's Center for Teaching and Learning, emphasized in our conversation: “When experiences bring the conceptual to life—like, wow, I get…
The Basel Committee on Banking Supervision (BCBS) issued its standard number 239 (BCBS 239) nearly a dozen years ago in 2013, with the aim of strengthening banks’ risk management through improved risk data aggregation and internal risk reporting. Its binding compliance deadline for global systemically important banks (G-SIBs) was nearly nine years ago, in January 2016. For domestic systemically important banks (D-SIBs), compliance was expected within three years following their…
These two characteristics are seen in the radical forces currently active in Aleppo, Aleppo. That is, on the one hand, they consist of various nationalities including from Central Asia and Afghanistan, their slogans are cross-border and emphasise the expansion of operations in other countries, including Iran. On the other, the advanced equipment used in this rebellion, for example drones, also indicates foreign financing, training and support. Therefore, we cannot be…
Unsustainable wildlife use and trade imperils thousands of species and is a major contributor towards current unprecedented rates of global biodiversity loss. Establishing effective controls on wildlife trade is an urgent priority, however this is hindered by rapidly evolving markets, opaque supply chains, and inadequate resources for enforcement.This new collaboration, led by the International Union for Conservation of Nature (IUCN), will focus on filling the critical gap in indicators of…
Professional piano players spend countless hours at the keys, perfecting their craft. For people with smaller hands, this dedication can take a physical toll. Repeated stretching to reach distant keys in a chord can strain muscles and joints and may lead to tendonitis, carpal tunnel syndrome, and other injuries.Researchers at Stanford are working to understand the forces involved in the hand movements of elite-level piano players, and how those change…
Topics Data, AI, & Machine Learning AI & Machine Learning Column Our expert columnists offer opinion and analysis on important issues facing modern businesses and managers. More in this series subscribe-icon Subscribe Share Carolyn Geason-Beissel/MIT SMR | Getty Images If your organization is developing generative AI applications based on large language models (LLMs), you must have a rigorous process to evaluate the quality of each application. An evaluation process consists…
The technique, called hyperpolarised carbon-13 imaging, can increase the detected signal in an MRI scanner by more than 10,000 times. Scientists have found that the technique can distinguish between two different subtypes of ovarian cancer, to reveal their sensitivities to treatment.They used it to look at patient-derived cell models that closely mimic the behaviour of human high grade serous ovarian cancer, the most common lethal form of the disease. The…
It is natural for any state to prioritize those geographic regions from which the main threat to its basic interests and values originates. Russia is no exception, and for more than 500 years, the West and relations with it have occupied a central place in Russian foreign policy. Moreover, the main administrative and industrial centres of Russia are located in close proximity to Europe – the historical West, writes Timofei…
Researchers hope that early detection, through the simple urine test, could enable earlier treatment interventions, significantly improving patient outcomes and prognosis. Around 36,600 lives are saved from lung cancer in the UK every year, according to new analysis from Cancer Research UK.Professor Ljiljana Fruk and Dr Daniel Munoz Espin and their teams at the University of Cambridge are leading on the research, funded by Cancer Research UK. The work, at…
Coaching for the Future-Forward Leader Wise leaders invite their teams to help imagine what’s possible. Sanyin Siang December 05, 2024 Reading Time: 2 min Topics Coaching for the Future-Forward Leader Leadership roles come with new personal and professional challenges — and Sanyin Siang, board and CEO coach, adviser, and author, is here to help with an advice column for top managers. More in this series While the pandemic was a…
Q5 earns top consultancy ranking in the Middle East Q5 has been recognised as a leading consultancy in the Middle East, achieving top rankings in Change Management, Human Resources, and Management. With accolades across key industries like Construction, Energy, and Media, this award highlights our commitment to driving impactful change for organisations. Reading time: 2 minutes We are thrilled to share that Q5 has been recognised as one of the…
A record-breaking stock market has again generated significant wealth this year. The gift tax, estate tax and generation-skipping transfer tax are all imposed on the fair market value of assets at the time of transfer. Gifts and other transfers now may allow you to leverage your exclusions and exemptions, freeze the current prices of assets and pass on future appreciation to the next generation. How can you take advantage? The…
Earlier this year, the U.S. Securities and Exchange Commission adopted rules requiring public companies to disclose climate-related risks so investors can make informed decisions about them; meanwhile, more than a dozen states have gone in the opposite direction, arguing that public pension funds should only consider financial returns and passing legislation that seeks to prevent funds from boycotting fossil fuel investments or from making decisions based on ESG—environmental, social, and…
Howie and Harlan are joined by Aaron Kesselheim, a physician, attorney, and public health expert, to discuss the shifting legal landscape for healthcare regulation and his experiences serving on an FDA advisory committee. Harlan reports on the growing evidence of widespread health impacts from microplastics; Howie provides an update on the bird flu outbreak. Links: Microplastics “Landmark study links microplastics to serious health problems” “Microplastics: Are we facing a new…
The Cambridge Centre for Advanced Research and Education in Singapore (CARES) is hosting two projects that aim to aid Singapore’s business transition away from petrochemicals towards a net-zero emissions target by 2050.Under the newly launched CREATE Thematic Programme in Decarbonisation supported by the National Research Foundation (NRF), the two projects will investigate non-fossil fuel-based pathways for Singapore’s chemical manufacturing industry and energy systems. Deputy Prime Minister and Chairman of the NRF, Mr…
A basic function of cells is that they act in response to their environments. It makes sense, then, that a goal of scientists is to control that process, making cells respond how they want to what they want.One avenue for this ambition is cell receptors, which function like ignition slots on a cell, requiring keys – such as specific hormones, drugs, or antigens – to start up specific cellular activities.…
In terms of the E&S issues they “wash”, the most frequently identified claims related to firms’ impacts on climate change (30 percent of all allegations), consumer health benefits (22 percent), and waste handling (11 percent). Other allegations related to biodiversity, animal welfare, as well as employee rights and safety. Further, we found that E&S-washing occurred most on product labels or packaging (25.3 percent of allegations), advertising (23.1 percent) and public relations…
The recent conflict in Lebanon has deepened a national education crisis in which children have already lost up to 60% of school time over the past six years, new research warns.The report, by the Centre for Lebanese Studies and the University of Cambridge’s REAL Centre, is the first to assess the state of education since Israel began its ground offensive in Lebanon in October. Using surveys and interviews with parents…
Around a third (32%) of people who grew up in Chicago have carried a concealed firearm on the city streets at least once by the time they turn 40 years old, according to a major study of gun usage taking in a quarter of a century of data.Urban sociologists behind the research argue that such carry rates are likely to be similar across many other major US cities. The research…
The goal of the conference is to have an open and in-depth discussion on Russian and Asian perspectives on the most significant issues of global and regional development and cooperation. Organizers see the goal as a joint effort to find solutions to current challenges. Programme of the 15th Asian Conferenceof the Valdai Discussion Club in partnership with Bait Al Amanah, Sasakawa Peace Foundation, Institute of Strategic Analysis and Policy…
The holiday season may be billed as the most wonderful time of the year, but it’s often a minefield of conflicts waiting to happen. Holidays are deeply personal, sparking joy and nostalgia for some while leaving others feeling excluded or stressed. With 44% of Millennials and nearly 50% of Gen Z employees identifying as part of underrepresented groups—and these two generations now making up over 50% of the workforce –…
Some of the difficulties are also related to the fact that a just low-carbon transition has so many close ties with other aspects of the global economy that it would not be an exaggeration to say that it is only possible in a just international order. For example, modern trade policy provides us with the clearest illustration of an unfair energy transition. The European Union and the United Kingdom are…
In this edition of Author Talks, McKinsey Global Publishing’s Raju Narisetti chats with Tony Blair, founder and executive chair of the Tony Blair Institute for Global Change (TBI) and former Prime Minister of the United Kingdom, about his book, On Leadership: Lessons for the 21st Century (Crown/Penguin Random House, September 2024). In 2016, Blair established TBI, a not-for-profit that supports leaders and governments on strategy, policy, and delivery, with a…
subscribe-icon Subscribe Share In 2023, generative AI became the topic every leader wanted to learn more about. In 2024, many leaders and organizations moved beyond the tactical AI questions to the strategic ones — such as where to reap the most business value while minimizing risk. For example, how can AI help your organization improve key performance indicators? Our No. 3 story offers in-depth, research-based answers. Another example: Who in…
Global real estate development, which has never been simple, has in recent years become more complex. Building “green,” once a choice and a differentiator for developers, is increasingly the only way to satisfy new regulations, consumer preferences, and investor expectations. New technologies—many powered by recent advances in AI and generative AI (gen AI)—offer huge opportunities but can require detailed knowledge. Higher interest rates, supply chain snafus, and greater market uncertainty…
What was the ACA intended to do? If you go back to the beginning, healthcare reform was supposed to be a lot of different reforms rolled together. That included insurance reform, meaning that private insurance would be more consistent and meet a basic standard for essential items that must be covered by insurance. There was never a federal requirement for that before the ACA. Another goal was expansion—covering more…
In addition, Iran and Russia have succeeded in synchronising “the banking messengers”. On January 29, 2023, the central banks of Iran and Russia signed a deal to connect their national interbank communication and transfer systems to help boost trade and ease two-way bank transactions. In fact, since one of the preconditions for creating a SWIFT-like system between Iran and Russia is the development of native interbank messenger systems, this issue…