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AN ARTICLE A DAY, PICKED BY OUR EDITORS

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

Why businesses thrive when women lead

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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

Chart detailing that health care providers tend to be more robust in screening for social determinants of health than in programming to meet needs.

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.

ALSO NEW

Appealing to a broader audience

Thoughts from Activision Blizzard

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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.

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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?

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ESSENTIALS FOR LEADERS AND THOSE THEY LEAD

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

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

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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. 

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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

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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

Illustration of two interlocking rings, representing interlocking cybersecurity

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

Illustration of a 3D design with various shapes and sizes fitting into it as pieces

“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

Person swinging a fishing pole in water at dusk

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.

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TODAY’S NEWS. TOMORROW’S INSIGHTS.
A daily newsletter from McKinsey & Company

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

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

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ALL THE WEEK’S DATA THAT’S FIT TO VISUALIZE

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

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by "Adobe Creative Cloud for Business" <demand@info.adobe.com> - 11:09 - 16 Oct 2022

The week in charts

The Week in Charts

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Our Charting the path to the next normal series offers a daily chart that helps explain a changing world—as we strive toward sustainable and inclusive growth. In case you missed them, this week’s graphics explored investments in e-kickscooters, burnout in Asia, opportunities for remote work, inclusion of LGBTQ+ employees, and the talent gap in aerospace and defense.

FEATURED CHART

Investors get a kick out of e-scooters

This week’s other select charts

Higher stress levels

Not everyone gets to work remotely

LGBTQ+ employees feel left out

Engineering a diverse talent pool

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Embrace inclusive innovation

by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:04 - 15 Oct 2022

Building resilience in Europe, gender parity in Mexico, electric-vehicle charging solutions, and more: The Daily Read weekender

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CURATED PICKS FOR YOUR DOWNTIME, FROM OUR EDITORS

Joyce Yoo
Digital Editor, New York

The weekend is finally here. Take a moment and get caught up on the week’s big reads on building resilience in Europe, gender parity in Mexico, product inclusion and equity in tech, and more.

Hemant Ahlawat, Homayoun Hatami, Maria del Mar Martinez, Thomas Poppensieker, and their coauthors outline a resilience framework to help European leaders understand gaps and identify growth opportunities amid disruption.

Get the bigger picture

How can gender parity be achieved in Mexico’s workplaces? Eduardo Bolio and his coauthors explore what companies can do to make progress.

Close the gap

McKinsey partners Martin Harrysson and Claudy Jules talk to Annie Jean-Baptiste, head of product inclusion and equity at Google about what it takes to make equity and inclusion a core part of the product process.

Our weekly briefing note on sustainable and inclusive growth explores electric-vehicle charging solutions, the global payments landscape, conscious eating, and more.

Get the latest update

Quote of the day

“Alternative proteins are the next battlefield. What people often don’t know is that the food system makes up about 34 percent of the total greenhouse-gas emissions globally, and most of it comes from meat and dairy.”

—McKinsey senior partner Daniel Läubli on what's next for grocery retail in a recent episode of the McKinsey on Consumer and Retail podcast

Chart of the day

Charts of female representation in engineering, industrial, and manufacturing organizations

How well do you know the numbers behind the changes in business, society, and the world? Take the McKinsey weekly quiz to find out.

ready to unwind?

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Data Points: Your weekly quiz

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We’re helping build an economy that works for all.

7 in 10 people live in societies with growing inequality. That’s why McKinsey is taking action to create a more inclusive economy through our work with clients, and in local communities.

See how we’re helping

1-Across: With 52-Down, author of the cookbook whose title is in the shaded squares

Know the answer? Test yourself with the latest McKinsey Crossword, “Now You’re Cooking!” | No. 97.

Get cooking

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OUR BEST IDEAS, QUICK AND CURATED | OCTOBER 14, 2022

by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:24 - 14 Oct 2022

Amid volatility, stick to long-term thinking

The Shortlist

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This week, we’re focusing on long-term value in an era of turbulence. Plus, the state of fintech in Africa, and a look at how a more efficient food system can build global resilience.

Image of a winding road through a beautiful forest

October is the cruelest month for stock markets, or so many believe (think 1929 and 1987). With worries swirling about the global economic picture, it’s a good time to remind even the most sophisticated business readers what a solid bet the capital markets are over the long term. Stock markets can be volatile, and some years they decline. This is no surprise. But the ups far outnumber the downs —and recent returns are in line with two centuries of performance.

A longer horizon. In “Looking back: What does the long term really mean?,” partner Tim Koller writes: “When McKinsey on Finance was first released in 2001, the market capitalization of the companies that made up the S&P 500 Index was about $10 trillion. As of mid-June 2022, the S&P 500 Index market capitalization was about $35 trillion.” Koller goes on to note that “from 1996 to mid-June 2022, S&P 500 Index returns declined annually only five times (six if we assume that full-year 2022 will also result in an annual decline).”

The long-term mentality. With a stretched time horizon, companies generate more shareholder value, create more jobs, and contribute more to economic growth than do peer companies that focus on the short term. Data also show that companies can achieve better long-term performance when they address the interests of employees, customers, and other stakeholders . Even so, a 2020 survey of 500 global executives conducted by FCLTGlobal and McKinsey shows that many continue to feel pressure from shareholders and directors to meet near-term earnings targets at the expense of long-term strategies. Managers and boards can take five steps to reorient their organizations toward long-term value creation rather than just short-term performance.

Creating value. Although it is far from perfect, shareholder-oriented capitalism is still the best path to broad economic prosperity, as long as companies focus on the long term. The guiding principle of business value creation is a refreshingly simple construct: companies that grow and earn a return on capital that exceeds their cost of capital create value. When managers, boards of directors , and investors forget this guiding principle, the consequences are disastrous, as we saw with the financial crisis of 2007–08 and the Great Recession that followed. Creating shareholder value is not the same as maximizing short-term profits—and companies that confuse the two often put both shareholder value and stakeholder interests at risk. What’s needed at a time of volatility is a clear definition of value creation that can guide markets and managers alike.

Off the charts

Expectations for company performance, by industry

In the latest McKinsey Global Survey on economic conditions, respondents’ expectations for their companies’ performance are more somber than they have been since early in the COVID-19 pandemic. This pessimism comes as companies feel the impact of cost increases. While expectations for profits have become less positive in most industries since December 2021, respondents working in the energy and materials sector have a rosier view of their profits over the next six months than they did last quarter.

Chart of respondents who expect demand for their companies' profits to increase in the next six months, by sector

Check out our chart of the day here.

PODCAST

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Empowering economic growth in the US Latino community

In this Future of America podcast, Domenika Lynch, head of the Aspen Institute’s Latinos and Society Program, joins McKinsey partner Bernardo Sichel and senior partner Kweilin Ellingrud to explore the economic experiences of Latinos in the United States and the prospects for their full participation in the US economy. As workers, entrepreneurs, and consumers, Latinos are “too large of a community to fail,” Lynch says, but they continue to experience a wage gap and barriers to full economic participation that must be addressed.

More on McKinsey.com

Fintech in Africa: The end of the beginning | In the face of political and economic challenges and a global pandemic, Africa’s fintech industry is booming. Here’s what comes next.

Still feeling good: The US wellness market continues to boom | New survey results show continued growth of consumer interest in health and wellness, with persistent gaps in certain areas presenting exciting opportunities for companies to serve unmet consumer needs.

Leading operating model modernization: What do transformation leaders say? | Executives from across Europe and Asia–Pacific discuss their organizations’ emerging agile-working practices and factors they view as crucial for success.

INTERVIEW

WHAT WE’RE THINKING

Nicolas Denis

Nicolas Denis is a partner in McKinsey’s Brussels office. He advises government institutions on sustainable economic development and serves leading companies in agribusiness, fisheries, forestry, and biotech.

A combination of factors is disrupting the global food supply . We have more people to feed in a system that is global, but where there is more geopolitical constraint. And at the same time, there is an increased risk of simultaneous breadbasket failure because of climate change.

There are six breadbaskets in the world. Combined, Ukraine and Russia are a big one. The region produces 28 percent of the world’s exported wheat and 15 percent of its corn. The current war in Ukraine has two implications in this area: besides being a region where a lot of commodities are produced, it’s also where some of the world’s fertilizer is produced. That has contributed to the price of fertilizers going up, which affects farmers’ ability to pay for those fertilizers, which can potentially have an impact on crop yield.

This is happening at a time when grain stocks are relatively low in many countries. That’s because since 2020, we saw a spike in the price of agricultural commodities, and countries tend to deplete their stocks more aggressively when the price of commodities is high. The combination of relatively low stocks with a disruption in one of the breadbaskets has a further impact on price.

The bottom line is that there are currently more shocks to the food system than usual.

To deal with these problems in the shorter term, we must ask: How do we rebuild strategic stocks for different commodities? How can we protect populations most vulnerable to food insecurity and make food affordable for them? In the medium to long term, private- and public-sector stakeholders can think about how to build more resilience into the food supply chain. One way may be through diversification of the sources of supply—being less dependent on just a few countries.

Another could be by trying to eliminate losses and waste, including by using effective seeds and irrigation efficiently. Roughly 30 percent of all food globally is wasted across the value chain . And then there’s getting both the right level of protein consumption in diets and thinking about the protein mix. There is a factor of ten or more between the least and most efficient ways of producing protein. Focusing on the most efficient proteins can relieve some pressure on the food system. It’s like energy: the more efficiency you create , the more resilience you have in your energy system.

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BACKTALK

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TODAY’S NEWS. TOMORROW’S INSIGHTS.
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by "McKinsey Shortlist" <publishing@email.mckinsey.com> - 02:50 - 14 Oct 2022

Ever heard of the Stanley Steamer? Here’s what it teaches about the car of the future.

On Point

Edited by Alexandra Mondalek
Associate Editor, New York

The road ahead for EVs

In the news

•

Anyone have a charger? There’s more to know about purchasing an electric vehicle (EV) than whether you can afford the car itself. While consumers won’t be spending money at the gas pump, those with longer commutes may want to pay for installing a charger at home, which could add up to about $1,500 to $3,000. Consumers will also need to buy the charger itself, with one popular choice priced at about $700. Overnight charging sessions may also increase household energy bills. But even with the upfront costs, consumers should quickly see savings from gas and maintenance. [WaPo]

•

Get in (the assembly) line. US consumers’ appetite for electric vehicles is growing, with one in four drivers saying they want an EV. Still, only 4% of cars produced in American factories are electric (that’s 323,000 EVs out of 7.4 million vehicles). Carmakers say they need the revenue generated from selling gas-powered cars to fund the shift to EVs. They’re racing to obtain supplies for batteries and to add EV production lines. But the longer it takes companies to manufacture battery-powered cars, the more likely they are to lose revenue to existing EV producers. [Bloomberg]

In the early 20th century, steam powertrains failed and ICE succeeded because an entire infrastructure developed for ICE automobiles.

On McKinsey.com

•

Ford versus Francis and Freelan. Twin brothers Francis and Freelan Stanley created their steam-powered automobile in 1897, eventually calling it the Stanley Steamer. It became the best-selling car in the US, even with electric and internal-combustion-engine (ICE) cars available. How, then, did Henry Ford’s Model T—which relied on internal combustion—overtake the Stanley Steamer in sales just a few years later? For McKinsey partners Russell Hensley, Moritz Rittstieg, and Shivika Sahdev, the key was that Ford did his thinking “relentlessly in systems.” His assembly line helped enable the company to produce more vehicles that often exceeded consumer expectations on speed, power, and price.

•

Lessons for the shift to electric. As automakers begin to shift production toward electric vehicles to meet consumer demand, there are lessons to glean from the past. As Ford recognized, making a great car means not just operating a great factory but also considering both physical and human capital. Decades ago, ICE-powered vehicles gave rise to an ICE-vehicle ecosystem, with gas stations, ICE-powered buses, a network of paved roads, parking lots, and garages all springing into existence. Leaders know that as demand grows for EVs, they must advance investment in supporting infrastructure.

Imagine the future car ecosystem

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:47 - 14 Oct 2022

Raising the resilience of your organization

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Digital Editor, Charlotte

Did you know that companies with organizational resilience are less likely to buckle during economic downturns? That’s because adaptable leaders learn from their mistakes and view disruptions as opportunities to make lasting, substantive, and positive changes. Organizations seeking to be more resilient should focus on four strategic capabilities—building an agile organization, developing self-sufficient teams, finding and promoting adaptable leaders, and investing in talent and culture. To find out more about how you can navigate an uncertain future, check out these insights from McKinsey’s Dana Maor , Michael Park , and Brooke Weddle .

Raising the resilience of your organization

Repeatedly rebounding from disruption is tough, but some companies have a recipe for success: a systems mindset emphasizing agility, psychological safety, adaptable leadership, and cohesive culture.

Adapt now

Quote of the day

“I expect that charging will happen where it’s most convenient for the consumer and businesses. And that drive for convenience will drive the future of e-mobility.”

—Andreas Lips, president and CEO of Shell Recharge Solutions in North America and Asia–Pacific, on the changes in electric charging in “Scaling electric-vehicle infrastructure to meet demand”

Chart of the day

Chart of the inclusion score gap by sexual orientation and gender identity

7 in 10 people live in societies with growing inequality. That’s why McKinsey is taking action to create a more inclusive economy through our work with clients, and in local communities.

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The multi-billion-dollar paper jam: Unlocking trade by digitalizing documentation

Trade documentation is a paper-intensive and resource-consuming process. An electronic bill of lading could save $6.5 billion in direct costs and enable $40 billion in global trade.

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Can leaders lift their companies to the next frontier of resilience—not only to survive but also to thrive?

by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:56 - 13 Oct 2022

A defining moment: How Europe’s CEOs can build resilience to grow in today’s economic maelstrom

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A defining moment: How Europe’s CEOs can build resilience to grow in today’s economic maelstrom

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by "McKinsey Quarterly" <publishing@email.mckinsey.com> - 02:56 - 13 Oct 2022

What does the enterprise metaverse hold for you?

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Join "Building the Enterprise Metaverse," a forward-looking Innovation Talk live stream, to connect with industry leaders and experts and learn how you can prepare your business for the future.

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US consumers spend billions on wellness. What products do they say they still need?

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The thriving US wellness industry

In the news

•

Skincare by celebs. When it comes to celebrities launching their own beauty and skincare lines, there’s one group of people whose feelings aren’t too pretty about it: beauty industry insiders who’ve spent decades building their careers. In recent years, actors, actresses, and former talk-show hosts have all sought to capture a slice of the US luxury skin care market, which generated $6.3 billion in sales in 2021. But although brands founded by famous people tend to instantly capture consumers’ attention, only quality products will keep them coming back, said one beauty industry expert. [WaPo]

•

Learning to meditate. From reducing anxiety and depression to boosting concentration, meditation has a host of benefits. But it’s often difficult to get started and can be especially frustrating for people who struggle to pay attention. Meditation experts offer tips that may help, starting with the advice that everyone gets distracted. Rather than assuming that you’re doing something wrong each time your mind wanders, simply notice when you get sidetracked, begin again, and accept that you’re only human, says one teacher. [NYT]

The wellness market is growing quickly. Overall, around 50% of US consumers now report wellness as a top priority in their day-to-day lives.

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A booming industry. The surging US wellness industry shows little sign of slowing. Spending on wellness products and services tops $450 billion in the US alone and is growing at more than 5% each year, find McKinsey senior partners Martin Lösch, Warren Teichner, and colleagues. Even so, many consumers still feel that what’s available doesn’t fully meet their needs. About 37% of consumers report wanting additional products and services in sleep and mindfulness, while almost a third of consumers say the same for health, nutrition, fitness, and appearance, according to a McKinsey survey of more than 2,000 US consumers.

•

Open to influence. Celebrities and social media influencers increasingly affect how brands are discovered. From 2020 to 2022, the share of consumers saying that celebrities are an important way for them to learn about new wellness products or brands grew from 38% to 62%, an increase of 24 percentage points, McKinsey research shows. Over the same period, the share of consumers looking to small-scale and large-scale influencers to find new brands increased 17 and 20 percentage points, respectively. See six surprising new trends in wellness in the US.

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:19 - 13 Oct 2022

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How digital twins create value in the enterprise metaverse

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AN ARTICLE A DAY, PICKED BY OUR EDITORS

Edited by Stephanie d'Arc Taylor
Digital Editor, Southern California

Put away your crystal ball. For enterprise organizations, the metaverse has the potential to help predict what's next with tremendous precision through mass simulations and artificial intelligence technologies. The engines that will power these predictions are digital twins—exact replicas of physical assets, processes, and even people within organizations to reinvent experiences and decision making in a digital context. A new interactive from Tomas Lajous , Kayvaun Rowshankish , Rodney Zemmel , and their coauthors breaks down how digital twins can drive efficiency and optimize outcomes—and what we can look forward to in the future. Check it out and get connected.

Digital twins: The foundation of the enterprise metaverse

Companies can leverage digital twins in a way that delivers significant value today—while building the engine for the enterprise metaverse of tomorrow.

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Quote of the day

“We are quick to tell ourselves stories. And in those stories, we often cast ourselves as the hero and the other person as the villain because it’s an easy shortcut. It’s an easy trope, but it’s often not the full story.”

—Amy Gallo of Harvard Business Review and the Women at Work podcast on processing conflict at work in a recent Author Talks interview

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