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How Human-Informed AI Leads to More Accurate Digital Twins

A hybrid approach that combines human knowledge and machine learning delivers better results for mission-critical simulations. Pushkar P. Apte and Costas J. Spanos August 27, 2024 Reading Time: 7 min  Carolyn Geason-Beissel/MIT SMR | Getty Images “OK, Houston, we’ve had a problem here,” said astronaut John Swigert in 1970, after an explosion disabled the Apollo 13 spacecraft on its way to the moon, 200,000 miles from Earth. Those iconic words…

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AI’s impact at 3 industry-leading companies

While generative AI is still a relatively new technology, data from McKinsey & Company1 suggests that 2024 will go down as a defining year for adoption. The percentage of organizations regularly using generative AI (65 percent) has nearly doubled in the past 10 months, and the number of organizations using it in two or more business functions jumped from one-third in 2023 to 50 percent this year. Businesses are also…

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A board-level view of cyber resilience

Amid growing corporate and public sector cyber breaches and recent high-profile technology outages, significant changes are occurring in both the role of boards in cybersecurity and within the cybersecurity industry itself. In this interview, McKinsey’s Sean Brown speaks with Vinnie Liu, the cofounder and CEO of the cybersecurity firm Bishop Fox, and McKinsey cyber-resilience experts Justin Greis and Daniel Wallance about how boards of directors should approach oversight of cybersecurity.…

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  • Reading time:18 mins read
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Cambridge Children’s Hospital moves ahead as plans for new hospital approved by ministers

Plans for Cambridge Children’s Hospital can move ahead following the news that the Outline Business Case for the project has been signed off by the Chief Secretary to the Treasury and the Secretary of State for Health and Social Care. The project has been given the green light to begin the detailed process of appointing a contractor, to build the ground-breaking new facility in 2026.The ministerial backing means that the…

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Skills Training Links Psychological Safety to Revenue Growth

Nick Lowndes/Ikon Images Many organizations around the world recognize psychological safety (PS) as being crucial for innovation, collaboration, and transformation. Briefly put, psychological safety describes an environment in which candor is expected and won’t be penalized. Although it’s often covered in leadership training, most organizations struggle to convert a theoretical understanding of PS into bottom-line results. We’ve found that this gap can be closed through skills training in the context…

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New Pathways to Meet Africa’s Challenges

Consider this: Heathrow Airport in the United Kingdom currently uses more energy than the entire west African country of Sierra Leone. Despite Africa accounting for less than 4 percent of global greenhouse gas emissions, many of its countries face significant threats from climate change, including increased droughts, floods, heat waves and potential crop failures.According to the African Development Bank climate change costs the continent US$7 billion to US$15 billion yearly, a figure projected to…

  • Post category:INSEAD Knowledge
  • Reading time:6 mins read
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The energy transition: Where are we, really?

Almost nine years after the landmark Paris Agreement and nearly halfway through what has been called a “decisive decade” for climate change, the world stands at a critical juncture in their transition away from fossil fuels. Translating into action the ambitious climate targets that have been put in place by governments and companies depends on accelerating the deployment and adoption of several interrelated technologies. These include renewable energy sources (RES),…

  • Post category:McKinsey & Company
  • Reading time:20 mins read
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The Republic of Belarus in the SCO: The European Dimension of Eurasian Security

The Republic of Belarus has clearly expressed a desire to cooperate and build relationships in its foreign policy. As a country with an open economy (export quota exceeds 50%), Belarus has long been actively involved in various integration associations in the region (the CIS, EAEU, and the Union State of Belarus and Russia), international organisations (CSTO) and initiatives (for example, China’s Belt and Road). At the same time, the range…

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Building a modern mining company: Interview with Neal Froneman

To power the energy transition, mining companies will need to pivot toward producing critical minerals such as copper, lithium, and rare earth elements, which are essential components of electric vehicles, solar panels, and more. Meanwhile, industry leaders are contending with legacy issues on environmental, social, and governance (ESG) topics and recruitment and making progress on exploring technological developments regarding artificial intelligence and automation. McKinsey senior partners Harry Robinson and Richard…

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  • Reading time:12 mins read
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Why You Should Tap Innovation at Deep-Tech Startups

Topics Frontiers An MIT SMR initiative exploring how technology is reshaping the practice of management. More in this series Kotryna Zukauskaite/theispot.com In today’s business environment, firms must navigate labor shortages, market shifts, geopolitical tensions that strain supply chains and manufacturing, and mandates to adopt sustainable practices. Meeting these demands will require innovation rooted in breakthrough science and engineering. Even companies in less R&D-intensive sectors will need to look to science-based…

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How Microsoft Entra ID supports US government agencies in meeting security requirements

If you’re in charge of cybersecurity for a United States government agency, you’re already familiar with Memorandum M-22-09, “Moving the U.S. Government Toward Zero Trust Cybersecurity Principles,” which the US Office of Management and Budget issued in January 2022. This memo set a September 30, 2024, deadline for meeting “specific cybersecurity standards and objectives” toward implementing a Zero Trust architecture in compliance with the Executive Order on Improving the Nation’s…

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Can AI Match Human Ingenuity in Creative Problem-Solving?

When ChatGPT and other large language models began entering the mainstream two years ago, it quickly became apparent the technology could excel at certain business functions, yet it was less clear how well artificial intelligence could handle more creative tasks.Sure, generative AI can summarize the content of an article, identify patterns in data, and produce derivative work—say, a song in the style of Taylor Swift or a poem in the…

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Approaching generative AI with a beginner’s mindset

Applying a growth mindset is the best way for businesses to approach the rapid changes born of generative AI (gen AI), says Clara Shih, CEO of Salesforce AI and today’s guest on this episode of the At the Edge podcast. Shih speaks with McKinsey senior partner Lareina Yee about the transformative power of gen AI to help accelerate workflows, the importance of change management, and the top questions business leaders are…

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  • Reading time:17 mins read
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Sharing risk to avoid power outages

Extreme weather is leading to more frequent power grid strain and electricity outages. There are a range of regional cooperation agreements among utilities to share electricity. Expanding cooperation areas in the West could cut outage risks by as much as 40%. Expanding cooperation among electricity providers could also help ensure public opinion and policy remain favorable for renewable energy growth. This summer’s Western heat waves raise the specter of recent…

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Tax Deduction: The Essence, Shortcomings and Prospects of Israel’s Practice of Collecting Taxes for the PNA

There are various theories explaining the motivation of both the past and current leadership of Israel to follow the path of economic rapprochement with the enemy in the regional conflict. According to the political interpretation, the desire to slow down the emergence of a Palestinian state is to blame. Following this logic, the Israeli authorities continued to refrain from changing the established practice, for fear of creating the illusion of…

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Government Spending: Uncovering Hidden Costs

“What Is Seen and What Is Not Seen.”: In the 19th century, French economist Frédéric Bastiat developed a didactic tool that continues to help us better understand — and ultimately better shape — government activity. It is easy to lose sight of the fact that every government expenditure has a “hidden” cost.  Considering Opportunity Costs  Every Swiss franc can only be spent once. If you subsidize tourism (visible), that money…

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No Candidate Offers a Sound Economic Policy

The economic proposals of both Donald Trump and Kamala Harris present a target-rich environment. In many ways, they ignore sound economic thinking. In one short article, I can’t deal with all of both candidates’ proposals and thinking on economics. In this article, I’ll focus on taxes and spending where, it’s fair to say, Harris is substantially worse. Unfortunately, although Trump is better, he’s not good. Taxes One of the best…

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California Website Owners: Key Updates on Cookie Banners, Arbitration, and Privacy Compliance – Webinar on Sep 10, 2024

Speakers – Kathleen McConnell, Gina Ferrari, and Vincent Smolczynski About the Program: Do you operate a website in California? Are you considering a cookies banner? Does your website terms compel arbitration? Then you need to know about the latest in California Privacy Litigation and Compliance.  Join us for an insightful webinar on navigating the complexities of CIPA (California Invasion of Privacy Act) compliance, focusing on website and cookie banner requirements. Our expert…

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What you don’t know about your employees’ engagement will hurt you

In the dynamic landscape of corporate culture, an engaged workforce isn’t just a nice-to-have; it’s a necessity for fostering growth and competitive advantage. According to Gallop research, companies with high engagement levels see 17% higher productivity, 20% higher sales, and 21% higher profitability compared to companies with low engagement levels. Towers Watson found that companies with high engagement levels enjoy a 6% higher net profit margin, and organizations with highly…

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“Goodbye BRP, Hello eVisa”: The UK’s Leap into a Digital Immigration Era

In an effort to introduce a fully digital immigration system, the UK Government has announced that Biometric Residence Permits (BRP), Biometric Residence Cards (BRC) and any other legacy paper documents with ink stamp or visa vignette will be phased out, and that as of January 1, 2025, they will no longer be in circulation. How individuals with a UK visa will be impacted: Easier ability to prove right to work…

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Financial Abuse and What Can you Do About It

Divorce is an emotionally taxing experience, especially when financial abuse has played a role in the relationship. Financial abuse, which can be subtle and often goes unnoticed, involves one partner exerting control over the other’s financial resources. It is a pattern of behaviour. If you are currently going through a divorce or considering one, particularly if your partner has been controlling, it’s important to recognise the signs of financial abuse and…

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Why the negative impact of non-competes is overstated (Part 2)

As we discussed in our previous blog on non-competes (as well as other types of restraint of trade), the move to add regulation has been gaining momentum since Federal Treasurer Jim Chalmers announced in August 2023 a Competition Review to examine competition laws, policies and institutions. Whilst the move to ban non-competes in Australia has been inspired by the U.S. Fair Trade Commission vote to ban non-competes, on 20 August…

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It’s an Ant … It’s a Robot … It’s Picotaur! The Unrivaled Microrobot

Picture this: hundreds of ant-sized robots climbing over rubble, under rocks and between debris to inspect the damage of a fallen building before human rescuers explore on-site. Downscaling legged robots to the size of an insect enables access to small spaces that humans and large robots cannot reach. A swarm of small robots can even collaborate like their insect counterparts to haul objects and protect one another. Picotaur, a new…

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Webinar – Enforcement Strategies Beyond Litigation: Leveraging Alternative Dispute Resolution

Presenters: Daniel Hart, Daniel Whang, and Sierra Chinn-Liu Navigating the complexities of trade secret enforcement often involves more than just traditional litigation. Join us for a compelling webinar in our 2024 Trade Secrets Webinar Series, where our panel of Seyfarth attorneys will delve into the strategic advantages of using alternative dispute resolution (ADR) mechanisms to protect and enforce your trade secrets. Key Discussion Points: The various ADR methods available for trade…

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Election (Non)Interference: Update on State Voting Leave Requirements for Employers Ahead of the 2024 Presidential Election

Quick Hits Voter turnout for the November 2024 elections is expected to be high, meaning many employees will be taking time off to exercise their right to vote. Most states require employers to provide unpaid leave to vote or do not have specific requirements, while some states require paid leave. Employers may want to start considering each state’s specific voting leave requirements and whether their employees will be impacted. The…

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Is Minnesota Nice for Business?

This essay was originally published on TIME. The rousing performances by Vice President Kamala Harris and Governor Tim Walz, along with the Obamas, the Clintons, Oprah, and many others, at the Democratic National Convention marked a pivotal moment in the 2024 presidential election. Now that both political parties have formally introduced their candidates to America and voters steadily begin to turn their attention to the election, the Democratic and Republican…

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Global Economics Intelligence executive summary, July 2024

Despite current geopolitical tensions, the global economy remains resilient. Economic growth in surveyed economies is accelerating, as growth in both the manufacturing and services sectors picked up in June. Manufacturing growth was largely stable (except in the eurozone, where it contracted faster) while services sectors remained bright, albeit expanding at a slower pace.Growth in the second quarter was varied but remained positive across the globe (Exhibit 1). In the US,…

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Learn about latest product innovations to elevate your security strategy at Microsoft AI Tour

For the second year, the Microsoft AI Tour will bring together security practitioners, developers, and other technology professionals to learn about the latest AI innovations across the full Microsoft Security stack in multiple cities around the globe. Whether you’re a decision maker who evaluates investments, an IT team member charged with security, or a chief information security officer (CISO) transforming your security strategy, there will be valuable security content tailored…

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Pixels of Progress: A granular look at Vietnam’s development journey

A country level perspective of Vietnam can provide a good, general overview of what is taking place in the country—just imagine what a pixelated breakdown 230 times more granular could reveal. Such a granular deep dive is now available with a new dataset, Pixels of Progress, compiled by the McKinsey Global Institute (MGI). This specialized dataset provides a close-up view of human progress in Vietnam by breaking the country down…

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  • Reading time:15 mins read
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Fundamental Basis for Rapprochement Between Russia, Iran and China

Over the past several years, we have observed an increasing rapprochement between Russia and Iran in different areas - political, geostrategic, military, economic, trade and transport. It is not only notable at the level of rhetoric; it is also being expressed in concrete steps. However, we see that a series of visits by Russian delegations to Tehran have produced limited results. What could this be connected with? How can one…

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The Surprising ROI of Small Online Influencers

For social media marketing, many companies gravitate to big-name endorsers. But there are good reasons to get “nano influencers” into the mix. Maximilian Beichert, Xiaoxi Zhang, Andreas Bayerl, Jacob Goldenberg, Xian Gu, P.K. Kannan, and Andreas Lanz August 22, 2024 Reading Time: 8 min  Carolyn Geason-Beissel/MIT SMR | Getty Images Sparkling water brand LaCroix has been available in the U.S. since 1981, but it took off to become a go-to…

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Preventing Missteps in Hiring and Managing Seasonal Workers

Quick Hits Many state and federal laws apply to seasonal workers the same way they do to full-time, year-round employees. These include antidiscrimination, antiharassment, wage-and-hour, workplace safety, and child-labor laws. About half of the states raised their minimum wage for 2024, which could impact many seasonal workers. Highlighting timekeeping practices and corporate policies during onboarding may help to prevent future legal hassles. Most—but not all—employment laws apply to both regular…

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Develop confident communicators: A guide to Speaker Progress for educators

Speaker Progress, a Learning Accelerator from Microsoft, helps educators develop students’ public speaking skills. Designed to accompany Speaker Coach, Speaker Progress enables you to create, customize, and assign speaking projects to your students, and collect insights about their performance over time. With AI-powered real-time coaching, Speaker Progress allows students to take ownership over their own Speaker Progress, a Learning Accelerator from Microsoft, helps educators develop students’ public speaking skills. Designed…

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Why “paying yourself first” could help you to secure the future you want

Creating a financial plan can help you to work towards and achieve your long-term goals. For example, your financial planner might help you by building a well-diversified investment portfolio or making the most of your pension contributions to ensure you save enough for the future. However, it’s often the simpler aspects of financial planning, such as budgeting and regular saving, that make the most significant difference in your situation. By…

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Reimagining insurance with a comprehensive approach to gen AI

Despite forging ahead with generative AI (gen AI) use cases and capabilities, many insurance companies are finding themselves stuck in the pilot phase, unable to scale or extract value. Jörg Mußhoff sat down with Cameron Talischi and Khaled Rifai to discuss how organizations can escape “pilot purgatory” by leveraging traditional AI and robotic process automation in addition to gen AI; the importance of reimagining domains such as claims, underwriting, and distribution;…

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The Joy and Opportunity of Living in Space

Q: What does it feel like to be launched into space? It’s noisy. There’s so much shaking. But what you really feel is pressure. With the weight of the solid rocket fuel plus all the hydrogen and oxygen, you move slowly off the pad. Relatively slowly, I mean—you’re going a hundred miles an hour when you clear the tower, but then you keep going faster and faster. You’re strapped tight…

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Fifth Circuit Set to Weigh Challenge to FTC’s CARS Rule

The administrative challenge brought by the National Automobile Dealers Association (NADA) and another trade association against the Combating Auto Retail Scams (“CARS”) Trade Regulation Rule, issued last year by the Federal Trade Commission (FTC), will be heard by the U.S. Court of Appeals for the Fifth Circuit on October 7, 2024. This case, together with the U.S. Chamber of Commerce-backed challenge to the FTC’s Non-Compete Rule, places the Fifth Circuit…

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Enabling carbon reduction in the energy industry

The ways the energy industry captures, transports, stores, and otherwise removes carbon dioxide (CO2) from the atmosphere are changing. Led by the European Union (EU), this new global push toward improved industrial carbon management (ICM) requires sophisticated new support mechanisms, including the development of technologies capable of orchestrating the carbon capture and storage (CCS) process from early planning to operations. Microsoft is committed to be carbon negative by 2030 and…

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