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  by "Sangoma Technologies" <webannounce@sangoma.com> - 04:16 - 20 Oct 2022

• Asian Americans are a diverse and fast-growing workforce—with the highest income inequality in the US

  Intersection

  Diverse outcomes, hidden challenges ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   DIVING INTO DIVERSITY, EQUITY, AND INCLUSION   Edited by Justine Jablonska    (she/her/hers)   Editor, New York Insights and strategies to nurture diversity, equity, and inclusion in the workplace. In your mailbox every two weeks. Asian Americans are a rapidly growing segment of the workforce—and one that is subject to pervasive and potentially harmful myths. In this issue, we explore McKinsey’s first-of-its-kind report on Asian Americans in the workplace, which counters these misconceptions. We also examine how leaders can better support advancement and inclusion for Asian American workers. Plus, a new approach to attracting and retaining talent as the Great Attrition continues, and our take on one reader’s question about how to introduce diversity, equity, and inclusion into the workplace.  Not a monolith. And no one’s model minority. SPOTLIGHT Asian Americans comprise about 6 percent of the US population; they are a nearly 20-million-strong group, with immense diversity. In a new report, Asian American workers: Diverse outcomes and hidden challenges, McKinsey partner Michael Chui, senior partner Kweilin Ellingrud, and partner Ishanaa Rambachan examine this group’s wide-ranging distribution across roles and industries. Asian Americans are overrepresented in higher-wage technical fields, the report finds—and overrepresented in low-wage jobs such as cooks and skin care specialists. As a race, Asian Americans have the highest income inequality in the US, which translates to vastly different economic outcomes. Often regarded as a “model minority”—a stereotype highlighting the group’s perceived success—Asian Americans tend to sputter up the career ladder, even in industries and roles where they have high levels of representation. “Our goal is to spark an expansive, ongoing conversation about better inclusion and advancement for Asian Americans at work,” say the report’s authors. That goal is especially urgent given the increased violence against Asian Americans in recent years, with one in six Asian Americans reporting that they’ve experienced a hate crime or hate incident in 2021. DATA DROP TAKE 3 We recently sat down with Kewilin Ellingrud, McKinsey Global Institute director, senior partner, and coauthor of the new report Asian American workers: Diverse outcomes and hidden challenges, to learn more about her latest research. 1. What is your biggest takeaway from this report?  It’s how varied the outcomes are across Asian American communities. There’s this notion that Asian Americans are a model minority that is doing very well both in relation to Whites and other underrepresented groups. And while that’s true in pockets, our research revealed enormous variability in educational outcomes and income, including a surprising number of Asian Americans in poverty. Asian Americans come from countries that make up more than half the population of the world, and they are a rapidly growing part of the US population. Employers need to figure out how to best use this incredible source of talent in their workplaces.  2. Did anything in the results surprise you?  The most surprising piece to me was that Asian Americans still have substantial gaps in the workplace. Even before they enter the workforce, Asian Americans are overachieving and earning a higher level of education degrees, which should translate into work progression but doesn’t. And even while they’re overrepresented in higher-paying professions—but also overrepresented in lower-paid professions—there’s a significant wage gap compared with White peers even in the higher-paying occupations. Asian Americans are, even in higher-paying professions, earning 93 cents on the dollar compared with their White peers. And Asian Americans in those professions are not advancing as much in the talent pipeline as their White peers. Asian Americans are fairly well represented from the entry level up through even senior vice president. But there’s a dramatic drop-off in the C-suite, which also means that far fewer Asian Americans report to a CEO. Asian Americans account for only 8 percent of C-suite executives, and Asian American women account for just 2 percent. So in terms of intersectionality, if you’re a woman and a minority, it’s doubly hard, and we’re certainly seeing that play out for Asian American women and their slower career progression.  3. Are there any findings that particularly resonated with you?  I was also struck with our findings that Asian Americans are less likely to feel sponsored, to feel that they can be their authentic selves at work. And especially recently, with a huge rise in Asian American hate crimes, they’re more likely to feel not welcome.  Our data also shows that Asian Americans are less likely to have sponsors at work; part of that may be due to a lack of comfort in asking for something for yourself, and, as surfaced in our interviews for the report, a feeling of, “This doesn’t quite feel right according to how I was raised.” Understanding these types of barriers is critical in equalizing the playing field. As we found in our report, for Asian Americans, even if you’re equally educated and skilled, you’re less likely to have the sponsorship to tell you the unwritten rules, to help you get ahead and get that next opportunity. MAKE IT RIGHT: WHAT CAN LEADERS DO?  Senior partner Kweilin Ellingrud: First, understand your company’s data better. You can’t take the majority of the world’s population and lump it into one group without the granularity of understanding that an immigrant from Burma is very different from an IT leader from India, who is very different from a third-generation Chinese American—all very different populations with different needs. Just as important is widening the aperture on the perception of leadership. Leadership does not have to be just tall, White, and male. The definition of what it means to be a leader should be much broader.  Finally, it’s having awareness that some aspects of American corporate culture may be countercultural for those who were raised in a traditionally Asian way; there are equivalents in many other cultures as well. I’ve had to unlearn some behaviors in order to be more mainstream and accepted in the workplace and to move ahead. That includes getting more comfortable with talking about myself, speaking confidently about what I can do, disagreeing with those who may be older and more experienced than I am—these are all skills that are important in some workplaces. I would encourage leaders and organizations to be mindful of that.  LISTEN IN As the Great Attrition continues, it’s more important than ever that leaders understand what makes their employees tick. Tune in to a recent episode of The McKinsey Podcast to learn about five employee personas that companies can reach in their search for talent (and also figure out which one you are!). As the authors of “‘Great Attrition’ or ‘Great Attraction’? The choice is yours” note, the business-as-usual approach of finding and keeping employees simply isn’t working anymore. ASK INTERSECTION One of our readers asks: ‘How can I effectively introduce DEI into my workplace?’  Thank you for taking the time to write in! Our research has shown that many employees want their organizations to do more to advance diversity, equity, and inclusion (DEI) in the workplace. But where to start? Each workplace is unique and comes with its own specific challenges—and opportunities. Four key factors, along with plenty of data, can help employers and employees understand the benefits of DEI in the workplace. Next, organizations can take three steps to supercharge DEI capability building, which can help to create thoughtfully designed DEI programs around the behaviors and moments that matter most. And as companies work to design and deliver DEI programs, leaders should be aware of three common pitfalls to avoid. Also, check out our collection of blog posts on why inclusion matters and how to foster it: the information here ranges from the educational to the practical, including a case study of how one company used hard data to develop an actionable road map for its ongoing DEI journey.  For McKinsey’s latest thinking on diversity, equity, and inclusion, visit our Diversity, Equity & Inclusion collection page. Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Intersection newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Intersection" <publishing@email.mckinsey.com> - 02:03 - 20 Oct 2022

• Languishing at work? There are many ways leaders can improve workplace mental health.

  On Point

  The qualities today’s leaders need ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  TODAY’S NEWS. TOMORROW’S INSIGHTS. A daily newsletter from McKinsey & Company   Edited by Katherine Tam   McKinsey Global Publishing, New York Workplace well-being In the news • Science-based strategies. Employers know that workers are overwhelmed. Globally, companies spent $50 billion on corporate well-being in 2022. But offering solutions like yoga classes or sleep apps tends to only help more affluent people with extra time on their hands. Employee well-being is tied to things like feeling certainty and having autonomy, so leaders should instead make small daily changes to encourage these enablers, say social psychologists Janet Ahn and Tessa West. For example, when asking to meet with someone, always give a reason why. [Quartz] • Bullying at work. Career sabotage, insults, shouting: stories about being bullied at work are sadly familiar. Three out of ten US workers are bullied, according to one US-based organization that researches workplace bullying. Among the reasons is that workers are being promoted for their technical skills but not trained on how to manage people, says one social psychologist. And it’s not just the slackers who are bullied. Overachievers are frequently mistreated, which implies that some bully to oust early-career employees who show potential to surpass them. [FT] “If you’re not leading with compassion, then you risk losing talent because that’s what the next generation expects.” On McKinsey.com • Struggling with burnout. Employers are now struggling to deal with growing levels of employee burnout. In an interview with senior partner and McKinsey Health Institute coleader Martin Dewhurst, MindForward Alliance global CEO and mental-health advocate Poppy Jaman says that when leaders prioritize mental health and well-being in the workplace, it creates a framework for a revised business strategy—one that at its very heart anchors compassion and support. • Skills leaders need. Due to the pandemic, mental-health struggles have grown around the world, while access to mental-health services has diminished. Meanwhile, many workers—especially women—are leaving the workforce, which could affect productivity. To make a difference, leaders need to show the same qualities and skills that they displayed during the pandemic: calmness, kindness, vulnerability, and compassion, says Jaman. See how leadership skills and strategies will need to evolve to address workplace mental health. Improve workplace mental health Was this forwarded to you? Sign up here. Or send us feedback—we’d love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:25 - 20 Oct 2022

• This year's Creativity Conference has started - attend online now.

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  Don't miss your chance for this once a year event.

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  by "Adobe Creative Cloud for Business" <demand@info.adobe.com> - 11:11 - 19 Oct 2022

• สัมผัสประสบการณ์การเป็นพันธมิตรแห่งอนาคตกับ mySchneider IT Partner Program

  Schneider Electric

  Discover the mySchneider Partner Program   ดูออนไลน์     สัมผัสประสบการณ์การเป็นพันธมิตรแห่งอนาคต   ที่ชไนเดอร์ อิเล็คทริค เราตระหนักดีถึงการปฏิวัติทางดิจิทัลอย่างต่อเนื่องและความต้องการที่เพิ่มขึ้นซึ่งสร้างแรงกดดันต่อธุรกิจของพันธมิตรของเรา ดังนั้น mySchneider IT Partner Program จึงสร้างขึ้นจากประวัติโปรแกรมที่ได้รับรางวัลของพันธมิตรของเรา เพื่อช่วยให้คุณติดตามความสามารถด้านไอทีที่หลากหลาย และช่วยให้สามารถพัฒนารูปแบบธุรกิจใหม่ๆได้ ด้วยการเสนอสามระดับสำหรับความเชี่ยวชาญพิเศษใหม่ ได้แก่ Select, Premier, Elite คุณสามารถก้าวหน้าได้ทีละขั้นตามความต้องการทางธุรกิจของคุณ สำรวจระดับการเป็นหุ้นส่วนที่แตกต่างกันและสัมผัสโอกาสใหม่ ๆ โดยได้รับการรับรองในความเชี่ยวชาญด้าน IT Solution Provider สร้างความหลากหลายให้กับธุรกิจของคุณ ดึงดูดลูกค้าใหม่ๆ และคว้าโอกาสทางการตลาดใหม่ๆ คลิกเพื่อเข้าร่วมความเชี่ยวชาญด้าน IT Solution Provider วันนี้!   ลงทะเบียน mySchneider IT Partner   Download Brochure       + Lifecycle Services   From energy and sustainability consulting to optimizing the life cycle of your assets, we have services to meet your business needs.     Schneider Electric 46 Rungrojthanakul Building. 1st, 10th, 11th Floor, Ratchadapisek Road. Huaykwang Bangkok - 10310, Thailand Phone +662 617 5555     ยกเลิกการเป็นสมาชิก  |   นโยบายความเป็นส่วนตัว     © 2022 Schneider Electric. All Rights Reserved. Schneider Electric is a trademark and the property of Schneider Electric SE, its subsidiaries and affiliated companies. All other trademarks are the property of their respective owners.

   

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  by "Schneider Electric" <reply@se.com> - 11:01 - 19 Oct 2022

• Driving growth by closing the gap between US labor demand and supply

  Harmony Internal - McKinsey

  Read our insights ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   AN ARTICLE A DAY, PICKED BY OUR EDITORS   Edited by Stephanie d’Arc Taylor   Digital Editor, Southern California A site to behold. The Bipartisan Infrastructure Law is poised to inject $383 billion into US infrastructure over the next ten years. But right now, there aren’t enough construction workers to engineer and build the proposed infrastructure, or factory workers to manufacture the materials. Shortages at any point along the construction value chain can trigger delays, drive up costs, or even result in projects being scaled back or scrapped—which could have far-reaching ramifications for future US economic success. But all is not lost. By working in creative cooperation, the public, private, and social sectors could close the gap between construction labor supply and demand—and help the US fully embrace this once-in-a-generation opportunity. For four concrete actions, check out this article by McKinsey senior partner Adi Kumar and his coauthors. Will a labor crunch derail plans to upgrade US infrastructure? There’s a historic and widening labor shortfall in the US construction sector. Yet it extends far beyond jobsites and varies by location, demanding tailored solutions. Read our insights Quote of the day “There’s a lot of data about how vulnerability is incredibly valuable for leaders. It makes them more approachable by their employees, and it also encourages employees to share their ideas and help contribute to problem-solving and building a company’s assets.” —Julia Boorstin, senior media and tech correspondent at CNBC, on woman leaders being comfortable with vulnerability in a recent Author Talks interview   Chart of the day See today’s chart   ALSO NEW Reimagining the future of biopharma manufacturing Leveraging digital and analytics advances can unlock significant value for biopharma companies through gains in quality, speed, agility, and resilience. Update the technology   Will fusion energy help decarbonize the power system? Nuclear fusion has long been considered a near-impossible clean-energy solution. But technological advances—and the need for a flexible zero-carbon power grid—have made fusion worth considering. Work for a sustainable future   Embedded finance: Who will lead the next payments revolution? Winners are already emerging in the race to provide banking and payments infrastructure for embedded finance, but incumbents and new entrants still have time to claim a share of this dynamic market. Capture value   Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:52 - 19 Oct 2022

• 1 DAY LEFT! Enterprise metaverse insights at your fingertips!

  Schneider Electric

  Register now for this Innovation Talk!   ดูออนไลน์     Analyze, visualize, and act faster than ever   Innovation Summit World Tour 2022 continues tomorrow at 2:00 PM CEST with "Building the Enterprise Metaverse," a future-oriented Innovation Talk. We've got a spot waiting for you! Join Peter Weckesser (EVP, Schneider Digital & Chief Digital Officer, Schneider Electric) and Caspar Herzberg (COO, AVEVA) as they discuss what the future holds for companies like yours. Explore tools for the integration of data across all enterprise areas Learn how analytics and visualization accelerate decision-making Discover how the metaverse will reshape today’s business landscape There is still time to register. If you have any questions feel free to reach us at innovation-experience@se.com.   Register now   Learn more       When?   Thursday, October 20 at 2:00 PM CEST     Where?   Live stream on LinkedIn       + Lifecycle Services   From energy and sustainability consulting to optimizing the life cycle of your assets, we have services to meet your business needs.     Schneider Electric 46 Rungrojthanakul Building. 1st, 10th, 11th Floor, Ratchadapisek Road. Huaykwang Bangkok - 10310, Thailand Phone +662 617 5555     ยกเลิกการเป็นสมาชิก  |   นโยบายความเป็นส่วนตัว     © 2022 Schneider Electric, All Rights Reserved. Schneider Electric trademarks are owned by Schneider Electric or its affiliated companies in the United States and other countries. All other trademarks are property of their respective owners.

   

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  by "Schneider Electric" <reply@se.com> - 04:04 - 19 Oct 2022

• Is your business at risk of financial fraud? Here’s a powerful way to fight back.

  On Point

  Using machine learning to fight fraud ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  TODAY’S NEWS. TOMORROW’S INSIGHTS. A daily newsletter from McKinsey & Company   Edited by Alexandra Mondalek   Associate Editor, New York Fraught with fraud In the news • The fine print. In an effort to step up Wall Street’s vigilance against financial crime, one US regulator is introducing steep fines for broker-dealer members that are too lax with money laundering prevention. The cost of ignoring rules that seek to prevent financial fraud depends on the size of the firm. For smaller firms, failing to adequately monitor financial transactions and report suspicious activity could mean paying a penalty ranging from $10,000 to $310,000. Noncompliant larger firms could pay a minimum of $50,000, with no upper limit. [WSJ] • Fast-rising fraud. More financial institutions are reporting higher rates of fraud in the past year, with small firms experiencing the biggest increase, according to a 2022 survey of 200 senior leaders. About two-thirds of the respondents with assets between $5 billion and $25 billion said that they are losing more money to fraudulent transactions, while about half of companies with assets worth $100 billion or more said the same. Nearly all executives said they want to prioritize the use of technology to help prevent fraud and money laundering. [PYMNTS] Transaction monitoring—specifically, combining machine learning with other advanced algorithms—is where banks can reap one of the most immediate and significant benefits in their anti-money-laundering efforts. On McKinsey.com • Putting machines to work. There’s growing momentum across the financial-services industry to prevent fraud and money laundering, creating strong interest in machine learning (ML) among leaders, say McKinsey partners Pankaj Kumar, Adrian Murphy, and coauthors. ML—which leverages granular, behavior-focused data to build sophisticated algorithms—can nimbly adjust to new money laundering trends and help companies reduce the risk of financial crimes. By replacing existing tools with ML models, one leading financial institution improved its ability to identify suspicious activity by up to 40%. • Transitioning to new tech. Even if a business has the right data to fuel an anti-money-laundering algorithm, implementing the new technology requires some additional time and investment. Firms will need to align stakeholders, develop a gradual technology transition plan, and revise their frameworks for transaction monitoring. For example, when integrating new monitoring technologies, it may be useful for employees to do so in conjunction with existing systems, so that they may be gradually phased out. See three key questions that banks need to address when transitioning to an ML model for transaction monitoring. Learn how ML fights fraud Was this forwarded to you? Sign up here. Or send us feedback—we’d love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:15 - 18 Oct 2022

• The Creativity Conference starts tomorrow at 12.30pm (AEDT)/9.30am (SGT)

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  by "Adobe Creative Cloud for Business" <demand@info.adobe.com> - 09:13 - 18 Oct 2022

• The big break: How retailers can break habits to support diverse-owned businesses

  Harmony Internal - McKinsey

  Embrace inclusivity in retail ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   AN ARTICLE A DAY, PICKED BY OUR EDITORS   Edited by Joyce Yoo   Digital Editor, New York Shopping with purpose is a priority for consumers today. In fact, whether a brand is minority or Black owned is an important part of the purchase decisions for Gen Z and millennials, who account for $800 billion in retail spending. And while diverse-owned brands face many unique challenges, there are opportunities for retailers to fulfill consumer demand for inclusivity and access the growing spending power of the inclusive consumer market, according to McKinsey senior partner Tiffany Burns and her coauthors. In a new article, they outline the seven habits retailers should break—and new ones to adopt—in order to drive diversity and help diverse brands scale their businesses. See how to stand out in the crowded retail landscape and support diverse-owned brands. The big break: How retailers can break habits to support diverse-owned businesses Our recent consumer survey found two important facts about American consumers. And retailers should take note. Embrace inclusivity in retail   Quote of the day “For Asian Americans, even those who are actually born in the US, being inclusive means not making them feel like they are foreigners in their own country.” —McKinsey consultant Jackie Wong on fostering inclusion and better representation across the entire talent pipeline in a recent episode of the Future of America podcast Chart of the day See today’s chart   ALSO NEW China’s theme parks face a new era China’s theme park industry is growing and evolving—a new report sheds light on how operators can elevate existing parks, and plan for new ones. Buckle up   Global Economics Intelligence executive summary, September 2022 Central banks sustain aggressive policy tightening; industrial activity picks up in emerging economies; financial-markets uncertainty works to strengthen the dollar. Dive in for the latest   Building greater resilience in vaccine manufacturing The COVID-19 pandemic has highlighted the need for resilience in vaccine manufacturing. Five considerations can help national public-health leaders plan. Be prepared   Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:31 - 18 Oct 2022

• You're invited!🎙️The Productive Power of Friendships at Work Webinar hosted by Welcome. 

  You're invited!🎙️The Productive Power of Friendships at Work Webinar hosted by Welcome. 

  Register today to save your spot. Can't make the live event? Register anyway and we'll send you the recording after!

  Hi MD, You are invited to join Remote's VP of People, Nadia Vatalidis, alongside Laura Hart, VP of Marketing at Loom, Rodrigo de la Sotta, People Success Manager at Torch, and Jena Andres, Head of Marketing at Welcome for...   🎙️ Webinar: The Productive Power of Friendships at Work Wednesday, October 19, 2022 12:00pm–1:00pm EST 4:00pm–5:00pm UTC Save your spot today What will you learn? Ways to build strong workplace relationships throughout the employee lifecycle How leaders can intentionally champion friendships at work Tools, systems, processes, or activities that encourage remote or in-person healthy relationship-building Speakers: Nadia Vatalidis, VP of People at Remote Laura Hart, VP of Marketing at Loom Rodrigo de la Sotta, People Success Manager at Torch Jena Andres, Head of Marketing at Welcome  Please note: This webinar is hosted by our friends at Welcome. Grow your headcount without the headaches.   Get started REQUEST A DEMO You received this email because you are subscribed to News & Offers from Remote Technology, Inc. Update your email preferences to choose the types of emails you receive. Unsubscribe from all future emails Remote Technology, Inc. 18 Bartol St. #1163 San Francisco California Copyright © 2022 Remote Technology, Inc. All rights reserved.

  

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  by "Remote" <hello@remote-comms.com> - 12:32 - 18 Oct 2022

• Will you join us? 🎙Webinar: Getting more from your HR tech stack.

  Will you join us? 🎙Webinar: Getting more from your HR tech stack.

  There is still time to register your spot for our next webinar.

  Hi MD, You are invited to join our next webinar! Webinar: Getting more from your HR tech stack Date and times: October 25th, 2022 5:00pm UTC 7:00pm CST 1:00pm EST   The world of work has changed forever. Where people used to commute to offices, more people than ever are working from home, from the road, and from new locations all over the world. More than 53% of companies have shifted their growth strategy to focus on remote international talent, and that figure will only grow as more companies recognize the immense potential of an international workforce.   New growth means new challenges — but also new solutions. But how do you get more out of your HR tech stack? What should you look for when choosing to add to it?   Join Remote's VP of People, Nadia Vatalidis, along with our partners from HiBob and AngelList Talent as we discuss the world of HR tech and reveal why now is such an exciting time to use your HR tech in a more strategic way. From integrations to API’s, this is an exciting time to use the flexibility and power of your HR tech stack to grow your business. Save your spot today What will you learn? How to integrate multiple HR tools to get more done with fewer logins Tips to use your tech to automate and scale recruitment, onboarding, hiring, payroll, and benefits administration How the most efficient companies construct their HR tech stacks Which tools to prioritize according to your unique needs Practical usage tips and common mistakes to avoid Your speakers: Alyssa Previti - Head of People at AngelList Talent Will Smith - Sales Engineering Manager at HiBob Nadia Vatalidis - VP of People at Remote Grow your headcount without the headaches.   Get started REQUEST A DEMO You received this email because you are subscribed to News & Offers from Remote Technology, Inc. Update your email preferences to choose the types of emails you receive. Unsubscribe from all future emails Remote Technology, Inc. 18 Bartol St. #1163 San Francisco California Copyright © 2022 Remote Technology, Inc. All rights reserved.

  

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  by "Remote" <hello@remote-comms.com> - 08:15 - 18 Oct 2022

• Missing out on mobile? Unlock key insights with New Relic's mobile monitoring capabilities

  In a world full of noisy data, have your entire cross-platform mobile stack in one view with New Relic’s mobile monitoring. We can help you gain deeper visibility into how to analyze your Android and iOS application performance and troubleshoot crashes. You can also examine HTTP and other network performance for unexpected lag, which will in turn help you collaborate more efficiently with your backend teams. Not sure where to start? Find out more in our introduction to mobile monitoring Learn more   FOLLOW US: New Relic, Inc.  31-36 Golden Ln, Dublin 8, D08 A5RV, Ireland | +353 (01) 687 6808 Unsubscribe or Change Your Email Address and preferences at any time. For information about our privacy practices, see our Privacy Policy. © 2022 New Relic, Inc. All rights reserved. New Relic logo are trademarks of New Relic, In  View this online

  

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  by "New Relic" <emeamarketing@newrelic.com> - 05:36 - 18 Oct 2022

• Announcement: Sangoma at Africa Com

  Announcement: Sangoma at Africa Com

  Come & Visit Sangoma Booth at Africa Com Cape Town

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  [ Sangoma Engage '21 - Sept. 28-30, 2021 ]

  Africa Com 2022: This Time For Africa !!

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  by "Sangoma Technologies" <webannounce@sangoma.com> - 04:46 - 18 Oct 2022

• Expense Management - White Label GPS Tracking Software

  Expense Management - White Label GPS Tracking Software

  Start your profitable GPS tracking business.

  Expense Management 65+ countries | 500,000+ units | 50,000+ happy customers Tracker independent | Supports multiple language Download E-Book Gives fleet owners complete financial control Key Benefits Eliminate avoidable expenses With detailed cost distribution reports of avoidable and necessary expenses, Trakzee makes it easy to save money and taxes. Detailed expense breakdown Gives a complete breakdown and visual summary of all expenses — from fuel and tyres to insurance and driver salaries. Compare costs for Vehicles Keep track of how much each vehicle costs with monthly reports along with maintenance, repair and breakdown history. Make expense tracking simpler Trakzee's mobile app makes it extremely simple for drivers and fleet managers to track expenses and vehicle costs. Fleet Management Platform That Grows With You Get a demo Plan & Pricing Uffizio India Software Consultant Pvt Ltd, A27, 29, 2nd floor, Pramukh Sanidhya, Dharampur Road Abrama, Valsad, Gujarat 396001, India, +91-7285855104 Unsubscribe Manage preferences

  

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  by "Jignesh Pardeshi" <official@uffizio.in> - 01:14 - 18 Oct 2022

• What are the greatest perceived risks to global economic growth?

  On Point

  Our latest survey on economic conditions ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  TODAY’S NEWS. TOMORROW’S INSIGHTS. A daily newsletter from McKinsey & Company   Edited by Alexandra Mondalek   Associate Editor, New York Forecasting the global economy In the news • Slowing growth, increased pressure. Ongoing conflict in Europe is exacerbating price pressures and contributing to a global economy that’s cooling off faster than expected. Worldwide economic growth is now expected to be a scaled-back 2.2% in 2023, compared with a previous forecast of 2.8%, according to the OECD. Consumers and businesses have been hammered by the rising costs of energy and food, with Europe being particularly affected by the slowdown. [NYT] • Seven economic winners. Despite global economic headwinds, a handful of countries have emerged with healthy economies, modest inflation, and robust earnings from stock markets, challenging deeply held biases about which kinds of countries perform well in the global economy. These seven economies in Asia, Europe, and the Middle East are all uniquely positioned: some are more insulated from energy supply shocks that are roiling other nations, while others are enjoying revived activity in foreign investment and in tourism. [FT] In a change from June, volatile energy prices have superseded supply chain disruptions as the third-most-cited global risk. On McKinsey.com • Top risks to growth. Respondents worldwide are generally downbeat about the economy, with those in most regions citing inflation as the main risk to growth in their home economies, according to McKinsey senior partner Sven Smit and colleagues. Nine out of ten respondents say their companies have experienced cost increases in the past six months, found the latest McKinsey Global Survey on economic conditions. Geopolitical instability and conflicts remain a top concern, most often cited as the greatest risk to global growth. • Focused on supply chains. Although concerns over the effects of supply chain disruptions on global and domestic growth have eased since the previous survey, those disruptions are still top of mind as a risk to company growth. A majority of respondents in manufacturing—including those in automotive and assembly, aerospace and defense, and advanced electronics—or retail say they have too much or too little inventory. See the biggest perceived risks to global economic growth (along with which pressures are moderating). Understand the risks Was this forwarded to you? Sign up here. Or send us feedback—we’d love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:09 - 17 Oct 2022

• Why businesses thrive when women lead

  Harmony Internal - McKinsey

  Understand the value ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   AN ARTICLE A DAY, PICKED BY OUR EDITORS   Edited by Stephanie d'Arc Taylor   Digital Editor, Southern California It’s not easy being a woman in business. Female executives represent just eight percent of CEOs leading Fortune 500 companies. What’s more, in 2021, female-led companies won just two percent of the $330 billion invested in startups by venture capital firms. But because they surmount such great odds to reach the top, female leaders are, by definition, exceptional. And there’s a lot we all can learn from their journeys, according to Julia Boorstin in a new Author Talks interview. See why Boorstin is “incredibly optimistic” for the future of women in the workplace despite the continuing challenges—and why companies with women in leadership positions are more successful—by catching her full interview. And for more on why diverse companies perform better, check out this article by Sundiatu Dixon-Fyle, Sara Prince, and their coauthors. Author Talks: Dismantling double standards in business with CNBC’s Julia Boorstin Julia Boorstin, creator of CNBC’s Disruptor 50 franchise, shares the lessons she’s learned on adaptability and decision making from some of the world’s top female CEOs. Understand the value   Quote of the day “The aim is for the future to become as open as the internet was when it was first launched. That is the kind of promise of what a future metaverse could be for everybody, not this idea of individual, siloed experiences.” —Rob Lowe, former managing director of Digital Play at LEGO Ventures, on the consumer experience in the metaverse in “Building a safer metaverse”  Chart of the day See today’s chart   ALSO NEW Appealing to a broader audience Ken Wee, chief strategy officer at Activision Blizzard, says despite the explosion of the market addressable by the metaverse, a true unlock has yet to occur to draw in a larger non-game-endemic audience. An edited version of the conversation from our ‘Value creation in the metaverse’ report follows. Thoughts from Activision Blizzard   Will the supply–demand mismatch persist for automotive semiconductors? Automotive OEMs can’t get enough chips for their vehicles. All signs point to a continued mismatch between supply and demand unless industry stakeholders act now. Get the insights   A defining moment: How Europe’s CEOs can build resilience to grow in today’s economic maelstrom Can leaders lift their companies to the next frontier of resilience—not only to survive but also to thrive? Get the bigger picture   Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Daily Read newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:33 - 17 Oct 2022

• [Webinar with Forrester] RESTful and Event-Driven APIs: Better Together

  SmartBear

  Join us for a special webinar hosted with Forrester!

  VIEW IN BROWSER RESTful + Event-Driven APIs Join us on October 25th to learn about Event-Driven APIs from Forrester! Register Now   Registration is now open for our upcoming webinar, RESTful and Event-Driven APIs: Better Together, featuring Forrester Senior Analyst, David Mooter. RESTful APIs have maintained steady growth and popularity as APIs have become increasingly central to business operations and strategy. Many architects and developers, however, have realized that RESTful APIs simply cannot fulfill all API use cases.  Event-Driven Architectures add a backbone to an organization's internal services, satisfying the need to rapidly deploy new services, engage in real-time communications and deliver more value both internally and to end-users.  From a developer's point of view, having a single API catalog for both RESTful and event-driven APIs enables better discovery, reuse and governance across the organization.    What We Will Cover: Trends in APIs and Microservices Why - and how – event-driven APIs have grown in popularity How RESTful and event-driven systems can succeed in concert How to enhance developer experience across both RESTful and event-driven APIs Which protocols are emerging to add governance and precision to event-driven APIs Register Now   Hope to see you there! P.S. Feel free to complete our State of Software Quality | API survey to help shape the future of software development!   Andrew Marotta Growth Marketing Manager, SmartBear andrew.marotta@smartbear.com

  This email was sent to {lead.Eamil Address} by SmartBear Software, 450 Artisan Way, Somerville, MA. 02145, 617.684.2600, www.smartbear.com. We hope you found this email of interest. However, we value your privacy. If you do not wish to receive future correspondence from us, please click here to manage email preferences.   VISIT SMARTBEAR.COM   |   UNSUBSCRIBE   |   VIEW IN BROWSER

  

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  by "Andrew from SwaggerHub" <swaggerhub-team@smartbearmail.com> - 02:25 - 17 Oct 2022

• A leader’s guide to building digital trust—and growth

  Harmony Internal - McKinsey

  A trusted relationship ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   ESSENTIALS FOR LEADERS AND THOSE THEY LEAD   Edited by Rama Ramaswami   Senior Editor, New York World events today may not give much cause for optimism, but businesses can take comfort in at least one thing: research shows that they are the most trusted institution. People also view societal leadership as a core business function. All the more reason, then, for organizations to invest in building digital trust—the confidence of customers, employees, and stakeholders that their online interactions are secure, their data is protected and used ethically, and the digital products and services they use are trustworthy. “The stakes for companies could not be higher,” say McKinsey’s Kayvaun Rowshankish and others in this article on data management traps to avoid. “Organizations that fail to walk the walk on data ethics risk losing their customers’ trust and destroying value.” AN IDEA Boosting digital trust can lead to business growth Often shadowed by tracking technologies, consumers are highly wary of how brands use their personal information; many will buy only from companies that have a reputation for protecting consumer data. Organizations that lead in digital trust—defined as those companies with employees who follow codified data, AI, and general ethics policies and that engage in cybersecurity best practices—are more likely than others to see annual growth rates of at least 10 percent on their top and bottom lines, according to research by McKinsey’s Alex Singla, Kate Smaje, and colleagues. But while nearly 90 percent of companies believe that they are somewhat effective at mitigating digital risks, 57 percent have suffered at least one data breach in the past three years. This is where digital-trust leaders come out ahead: 41 percent have experienced an adverse event in the past three years, compared with 53 percent of all other institutions. “Achieving digital trust is a major strategic imperative and a huge business differentiator,” says McKinsey’s Jim Boehm. A BIG NUMBER $101.5 billion That’s the amount that organizations are projected to spend on cybersecurity service providers by 2025, according to McKinsey research. “Even today’s most sophisticated cyber controls, no matter how effective, will soon be obsolete,” note McKinsey experts in this article on the latest cybersecurity trends and their implications for organizations. As cyberattacks grow more widespread, sophisticated, and frequent, companies are racing to keep up: market indicators show the costs of cybercrime increasing 15 percent annually, reaching $10.5 trillion in 2025. A QUOTE “There is no cure-all for the broad spectrum of AI risks.” That’s McKinsey senior partner Kevin Buehler and other experts on managing the unwanted consequences of AI, such as privacy violations, discrimination, accidents, and even manipulation of political systems. Leaders can keep some incidents at bay by creating a risk prioritization and mitigation framework based on legal guidance and technical best practices. One way to do this is to map specific AI risk categories against possible business contexts. For example, privacy breaches usually occur in the context of data capture, collection, extraction, or engineering; therefore, any mitigation efforts should be directed to these areas. Alongside this framework, organizations should consider reviewing past failures in risk mitigation, since AI draws its predictive power from past events. A SPOTLIGHT INTERVIEW “A cyberattack tends to elevate and exacerbate tensions that already exist within an organization,” says McKinsey’s Wolf Richter in this podcast on how boards of directors can help shore up their organizations’ digital trust. “The board’s responsibility is to make sure that the executive team has a plan, is prepared, and is preparing the whole organization for the eventuality of an attack.” That means targeting particular vulnerabilities—such as field-service agents and customer service representatives—and balancing cybersecurity investments with investments in other parts of the business. “If I was a board member, I would ask which assets or parts of the organization the cybersecurity team and the leadership team focus their attention on,” Richter says. “The more specific they are in targeting initiatives toward specific systems, infrastructures, processes, and people, the better I would feel as a director.” GONE FISHING Phishing, pharming, sandboxing, island hopping—far from being things you’d do on vacation, these are just a few of the kinds of cyberattacks unleashed on organizations with alarming frequency. Incidents of cybercriminals holding data for ransom surged 105 percent worldwide in 2021, with governments and the healthcare industry bearing the brunt of the attacks. The large-scale adoption of work-from-home technologies following the pandemic makes it harder for companies to maintain security, but leadership teams should consider bolstering four key areas of vulnerability, including conducting a quantitative risk analysis and enhancing response and recovery capabilities. Lead with digital trust. Follow our thinking Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the Leading Off newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:28 - 17 Oct 2022

• Do you know how AI systems work? Here’s why explainable AI is essential.

  On Point

  Five benefits of explainable AI ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  TODAY’S NEWS. TOMORROW’S INSIGHTS. A daily newsletter from McKinsey & Company   Edited by Belinda Yu   Editor, Atlanta Exploring explainable AI In the news • Bikinis and business suits. Images in data sets used to train AI systems reflect human bias, researchers have found. When provided a picture of a woman’s face and asked to fill in the rest of the image, one computer vision model auto-completed more than half of the images with bikinis or revealing attire. Forty-two percent of men’s faces, however, were auto-completed with business attire such as suits. But even though computer vision models are involved in making critical decisions (for example, in evaluating job candidates), there’s no standardized process for transparency that gives people insight into how AI is used. [Brookings] • Four features of AI. To be successful, AI systems must gain the trust of consumers, employees, and other stakeholders. But AI models have four features that may make it difficult for people to trust them, MIT researchers find. One is that it’s difficult to understand if an AI model is accurate and ethical, because it depends on complicated mathematical and statistical calculations. By establishing practices for tracing decisions, such as using charts and other visuals, developers can make clearer how the models actually work. [MIT] Organizations that establish digital trust among consumers are more likely to see their annual revenue and EBIT grow at rates of 10% or more. On McKinsey.com • Explainability is essential. Companies increasingly depend on AI to make decisions, and consumers need to know that these decisions are fair, accurate, and trustworthy. Firms that show how their AI-driven recommendations are derived (that is, “explainability”) win over regulators and the public, while adding to the company’s bottom line, say McKinsey senior partner Alex Singla, Andreas Kremer, and colleagues. Companies that attribute at least 20% of EBIT to their use of AI are more likely to follow best practices that enable explainability. • Opening the black box. Mastering explainability in AI is more important than ever, but it’s also getting harder. Too often, advanced machine learning models remain a black box. The more sophisticated an AI system is, the tougher it is to understand. AI systems constantly learn from the data that they ingest, sometimes delivering outputs within fractions of a second. To demystify AI models, firms need to establish a governance framework and invest in the right tools and talent. See five ways that explainable AI can benefit organizations. See the value of explainable AI Was this forwarded to you? Sign up here. Or send us feedback—we’d love to hear from you. Follow our thinking This email contains information about McKinsey's research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to the On Point newsletter. Manage subscriptions | Unsubscribe Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:08 - 17 Oct 2022