India is on a strong growth trajectory, with its share of global GDP rising from 1.9 percent in 2008 to 3.4 percent in 2023. The Government of India is now targeting an 8 to 10 percent share of global GDP by 2040. Achieving this level of growth requires a shift from incremental progress to targeted breakthroughs in sectors that hold the potential for significant growth and dynamism—what the McKinsey Global…
Spending review 2025: our insights The June 2025 Spending Review is the Labour Government’s first in over 15 years and is presented as a significant strategic shift from incremental budgeting to a mission-led, zero-based funding approach. The commitments made through the SR reflect our national priorities (health, house building, national energy security, and digital transformation) whilst also recognising the increasing global threats that we face and how we must be…
Quick Hits The Supreme Court held that “Tennessee’s law prohibiting certain medical treatments for transgender minors is not subject to heightened scrutiny under the Equal Protection Clause of the Fourteenth Amendment and satisfies rational basis review.” The Court reasoned that the state law classifies on the basis of age and medical use—both of which are subject to rational basis review—and not on the basis of transgender status. The Court found…
Leading a public department or agency is famously difficult, and it’s only getting harder. In a McKinsey survey of over 800 senior public sector leaders worldwide, we identified the trends that are most likely to disrupt delivery of government missions—from tighter budgets to tougher competition for talent to technological change (see sidebar, “About the research”). The good news is that many leaders are rising to these challenges and navigating the…
Today, all non-Africans are known to have descended from a small group of people that ventured into Eurasia around 50,000 years ago. However, fossil evidence shows that there were numerous failed dispersals before this time that left no detectable traces in living people.In a new study published today in the journal in Nature, scientists say that from around 70,000 years ago, early humans began to exploit different habitat types in…
Under sunny skies and with high spirits, Stanford Law School celebrated the Class of 2025 on June 14. The commencement ceremony, held beneath a large, white tent in front of Canfield Courtyard, featured student and faculty speakers who returned often to themes of community and collective effort, emphasizing that success in law school is never a solo journey. The graduates were encouraged to carry forward the same spirit of mutual…
Quick Hits Minneapolis employers must not discriminate on the basis of an individual’s height, weight, justice-impacted status, or housing status, unless there is a bona fide occupational qualification or other exception. Minneapolis employers must provide reasonable accommodations to individuals with known pregnancy-related limitations. Minneapolis employers must provide religious accommodations for sincerely held religious beliefs, unless doing so would impose an undue hardship on the employer. New Protected Characteristics Under Minneapolis’s…
At a glance The global trade system is in flux. Since 2017, economies have traded less with geopolitically distant partners. Recent announcements on tariffs, trade, and industrial policy have deepened uncertainty. Trade will grow by $12 trillion by 2035 in a baseline scenario. The trade increase would boost today’s global trade value by about 35 percent, to $45 trillion. In a diversification scenario (in which companies seek new sources of…
Despite the fact that one may not fully understand all the processes inside the proverbial "black box", real AI is still under the complete control of human users. Returning to the parallel with electricity, AGI can be compared to a super-complex socket: it has enormous potential, but it only works depending on who plugs into it and why. Of course, there are other views — they emphasise that as the scale…
Sarah A. Soule, the Morgridge Professor of Organizational Behavior, became the Philip H. Knight Professor and Dean of Stanford Graduate School of Business on June 16, 2025. She succeeds Jonathan Levin, who assumed the role of president of Stanford University in August 2024, and follows Peter DeMarzo, who served as interim dean during the 2024-2025 academic year.p]:su-m-0 [&>p]:!su-mb-0 [&>p]:su-text-16 md:[&>p]:!su-text-19 last-of-type:[&>p]:!su-mb-0 su-p-20 md:su-p-36">At a glanceEducationPhD in Sociology, Cornell University, 1995MA…
The successful Cambridge grantees’ work covers a range of research areas, including the development of next-generation semiconductors, new methods to identify dyslexia in young children, how diseases spread between humans and animals, and the early changes that happen in cells before breast cancer develops, with the goal of finding ways to stop the disease before it starts.The funding, worth €721 million in total, will go to 281 leading researchers across…
Imagine the weekly meeting of a company’s executive team. The chief marketing officer (CMO) reports that all marketing metrics are on the rise. Brand awareness and web traffic are strong due to the latest ad campaign, which is loved by consumers and the press alike. Everyone is feeling good—until later in the meeting, when the CFO shares the latest financial results. Sales and market share are declining, and last quarter’s…
17 June 2025By Christine Lagarde, President of the European Central BankFor the euro to reach its full potential, Europe must strengthen three foundational pillars: geopolitical credibility, economic resilience and legal and institutional integrity.We are witnessing a profound shift in the global order: Open markets and multilateral rules are fracturing, and even the dominant role of the US dollar, the cornerstone of the system, is no longer certain. Protectionism, zero-sum thinking…
In Invisible Rivals, published by Yale University Press today, Dr Goodman argues that throughout human history we have tried to rid our social groups of free-riders, people who take from others without giving anything back. But instead of eliminating free-riders, human evolution has just made them better at hiding their deception.Goodman explains that humans have evolved to use language to disguise selfish acts and exploit our cooperative systems. He links…
Choosing where to invest and seek funding are among the most fundamental decisions business leaders make. Recent geopolitical shifts are complicating the analysis, however. Across the globe, governments are increasingly regulating investment flows into and out of their territories and industries. While countries have long applied constraints on inbound foreign direct investment (FDI) to advance their economic and national security interests, the use of investment laws has increased significantly and…
Quick Hits The Supreme Court of California is poised to determine whether the Federal Arbitration Act preempts a state law requiring timely payment of arbitration fees, which could significantly affect employment arbitration practices. The case arises from a dispute where a former employee sought to void arbitration after the employer paid arbitration fees after a thirty-day deadline imposed by a California statute. The outcome will clarify the interplay between federal…
In 2018, when Zhen Lian, then a PhD student at Cornell, started working on a research project about self-driving cars, the technology still seemed like “a futuristic topic,” she says. Just five years later, while traveling in Phoenix, she was able to hail a self-driving car—also known as an autonomous vehicle (AV)—to get a ride from her hotel to the airport. . The incorporation of AVs into the ride-hailing industry…
The 2025 edition of the Aerospace Industries Association’s (AIA) annual aerospace and defense (A&D) workforce study was written as part of an ongoing collaboration with McKinsey that included a survey of AIA member companies and their executive leaders. The survey revealed that persistent core talent shortages and high attrition rates threaten to limit future progress of the A&D industry, which continues to grow at a robust 4.8 percent year over year. A&D…
However, since ancient times, the processes have accelerated, and now the question is important for us: at what stage of the process are we? Have we already passed the peak of the “crumbling” of the old world order or not? Has the collection and construction of the new one begun? Unlike in past times, humanity is much more ready for trials. The power of people has increased many times over, new technologies…
The MacRobert Award is run by the Royal Academy of Engineering and recognises engineering teams that demonstrate outstanding innovation, tangible societal benefit and proven commerciality within the UK engineering sector.The three finalists for the 2025 MacRobert Award include OrganOx (Oxford) for creating a transportable normothermic organ perfusion device, which is a world first originating from research at the University of Oxford. ">Video of World’s first transportable normothermic organ perfusion technology…
I am delighted to have my first opportunity as president to address a graduating class. Graduation ceremonies have important elements of tradition. Even at Stanford, where we take pride in fresh thinking, we have our academic regalia, the Wacky Walk, and the MBA students making noise disproportionate to their numbers. Many of you who are graduating arrived at Stanford when we were reopening campus after the pandemic. Traditions had been forgotten. So the Class…
These employees saw strategic applications beyond the tool's basic functions. One of them noted: "You can observe who you're collaborating with, as well as who you're not collaborating with... you can consider your own conduct and determine what kind of individuals you need to work with."Emotionally, these employees felt positive about AI: "I think it's where the world is going, and for me... if I'm working now and I'm being…
It goes without saying that Ontario has an “interest in education.” The more important question is to what extent the province can use this broad interest to exert control over local board governance, pursuant to the Education Act and its regulations. One such tool at Ontario’s disposal is O Reg 43/10: Provincial Interest in Education (the “Regulation”), which confers broad powers on Ontario to insert itself into the affairs of…
Fifteen Stanford seniors, graduate students, and recent alumni received grants from the Fulbright U.S. Student Program to study and teach abroad next year. The Stanford-affiliated grantees will travel to 12 countries, including Australia, Germany, Greece, Indonesia, Paraguay, South Korea, and Thailand, to pursue individually designed research projects, graduate study programs, or English teaching assistant programs.p]:su-m-0 [&>p]:!su-mb-0 [&>p]:su-text-16 md:[&>p]:!su-text-19 last-of-type:[&>p]:!su-mb-0 su-p-20 md:su-p-36" readability="24.260869565217">Learn more about international scholarshipsThe Fulbright U.S. Student Program,…
Legislative developments continue in the federal government’s focus on strengthening Canada’s anti-money laundering and anti-terrorist financing regime. Bill C-2, An Act respecting certain measures relating to the security of the border between Canada and the United States and respecting other related security measures (the Strong Borders Act) was introduced on June 3, 2025. Among other proposed measures, the Strong Borders Act proposes the following amendments to the Proceeds of Crime…
At a glance Nearly eight in ten companies report using gen AI—yet just as many report no significant bottom-line impact. Think of it as the “gen AI paradox.” At the heart of this paradox is an imbalance between “horizontal” (enterprise-wide) copilots and chatbots—which have scaled quickly but deliver diffuse, hard-to-measure gains—and more transformative “vertical” (function-specific) use cases—about 90 percent of which remain stuck in pilot mode. AI agents offer a…
On May 29, 2025, the Supreme Court of Canada (SCC) dismissed an application for leave to appeal from the decision of the Federal Court of Appeal (FCA) upholding drug and alcohol testing requirements of the Canadian Nuclear Safety Commission. The application for leave was filed after the FCA dismissed the appeal of an earlier 2023 Federal Court decision on Nov.6, 2024. The testing requirements are a condition placed on individuals…
Back in 1959, our former colleague Gil Clee cowrote an article in Harvard Business Review that urged CEOs to embrace the challenge of creating “world enterprises.” Given the rapid expansion of international trade taking place at that time, the article advised CEOs “to view [their] responsibility as global in scope … and to organize [their] corporation in such a way that its major decisions are considered and made in the…
Companion of Honour (CH) – limited to 65 membersProfessor Dame Jocelyn Bell Burnell has been appointed a Companion of Honour (CH) for services to Astronomy and Physics and to Diversity. She is an astrophysicist and a Professor Emeritus of Physics at the Department of Physics, a Professorial Fellow in Physics at Mansfield College and Fellow of the Royal Society.Professor Bell Burnell was responsible for the discovery of pulsars while a…
This breakthrough gives us unprecedented control over single tin-vacancy colour centres in diamond, a crucial milestone for scalable quantum devices. What excites me most is that we can watch, in real time, how the quantum defects are formed.Professor Jason Smith, Department of Materials, University of OxfordUsing a new two-step fabrication method, the researchers demonstrated for the first time that it is possible to create and monitor, ‘as they switch on’,…
Cuts to university spending are likely to be announced this summer as Stanford confronts federal funding risks and uncertainties, Provost Jenny Martinez told the Faculty Senate on Thursday in her annual budget presentation.Martinez presented a “modified continuing resolution budget” for the 2025-26 year, a provisional spending plan developed this spring that largely mirrors current-year spending with small adjustments. Given the significant revenue risks the university faces, the university’s Budget Group…
The ERC Advanced Grants competition, part of the EU’s Horizon Europe programme, is one of the most prestigious and competitive funding schemes in the EU. It gives senior researchers the opportunity to pursue ambitious, curiosity-driven projects that could lead to major scientific breakthroughs.This year, the competition attracted 2,534 proposals, which were reviewed by panels of internationally renowned researchers. Only 281 (11 %) of proposals were selected for funding.President of the…
On May 8, 2025, the Province of Ontario announced that it approved Ontario Power Generation’s (OPG) plan to begin construction on the first of four small modular reactors (SMR) at the Darlington nuclear site. The four SMRs are referred to collectively as the Darlington New Nuclear Project, or DNNP. OPG’s budget for the DNNP, which includes site preparation, engineering and design work to date, as well as the construction of…
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…
Against this backdrop, Russia has begun – albeit belatedly – to show growing interest in non-Western interpretations of the war and its outcome. For a long time, Russia’s international engagement with World War II memory was Western- and Eurocentric, as evidenced, for example, by the lists of heads of state attending anniversary Victory Parades. While leaders from China, Vietnam, and Mongolia participated in most of these events, the inclusion of…
Sustained Diamond and Platinum ratings in Change Management and key industries Following our recent King’s Award for International Trade, Consultancy UK has positioned Q5 as a top UK firm, receiving Diamond rating for Change Management alongside Platinum and Gold ratings for multiple industry sectors and service areas. Reading time: 2 minutes For two years in a row, we’re very proud to announce that Q5 has been ranked as one of…
Quick Hits The proposed “No Robo Bosses Act” (SB 7) in California aims to regulate the use of automated decision-making systems in employment by mandating human oversight and written notice to employees about such systems. The bill would prohibit employers from relying primarily on automated systems for critical employment decisions and allows affected employees to appeal those decisions within a specified timeframe. The No Robo Bosses Act, Senate Bill (SB)…
On Dec. 4, 2024, Bill 227, the Cutting Red Tape, Building Ontario Act, 2024, SO 2024, c 28 received Royal Assent. Among other legislative changes, Bill 227 amended the Education Act, RSO 1990, c. E.2, the Teaching Profession Act, R.S.O. 1990, c. T.2, the School Boards Collective Bargaining Act, 2014, S.O. 2014, c. 5, and the Provincial Schools Authority Act, R.S.O. 1990, c. P.35 to recognize the role that system…
A third of doctors trained in Ghana now live abroad, as do 91% of Ethiopian-born PhD holders and two-thirds of graduates from the top Canadian software engineering programs. Statistics like these have long prompted concerns that large, rich nations are depriving less populous, less wealthy ones of their native-born talent. If most of the skilled workers leave, the thinking goes, small countries and low- and middle-income countries (LMICs) will struggle…
Why are there so many different kinds of animals and plants on Earth? One of biology’s big questions is how new species arise and how nature’s incredible diversity came to be.Cichlid fish from Lake Malawi in East Africa offer a clue. In this single lake, over 800 different species have evolved from a common ancestor in a fraction of the time it took for humans and chimpanzees to evolve from…