A conversation with partner Anu Madgavkar

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The Women of McKinsey: Anu Madgavkar

This Women’s History Month, we’re chatting with McKinsey leaders about their role as women in the workplace and beyond. Today, we’ll hear from Anu Madgavkar, a McKinsey Global Institute partner who leads global research focused on labor markets and human capital, technology’s economic impact, gender economics, digital and financial inclusion, and inclusive growth. For more Q&As throughout the month, bookmark this page.

What are you most proud of?

I'm most proud about how we, as a firm, and at the McKinsey Global Institute, really shape and influence the way global leaders think about important issues. I think our work around gender parity and sizing its economic value changed the course of the debate. We were also the first to put society issues side-by-side with economic ones, as we thought about capturing that opportunity. That changed the way world leaders like Shinzo Abe, Hillary Clinton, and Melinda Gates talked about these issues and framed them.

More recently, we are setting aspirations for whole nations in terms of economic empowerment, rather than just poverty reduction. That changes the way world leaders are thinking about these issues, including most recently at the B20 in Indonesia, where we really set the course for a much bolder set of aspirations for countries to take forward.

Watch the full interview

PUBLISHED WORK

Two production operators with tablet in factory shop floor

Rekindling US productivity for a new era

Regaining historical rates of productivity growth would add $10 trillion to US GDP—a boost needed to confront workforce shortages, debt, inflation, and the energy transition.

Download the full report

Performance through people: Transforming human capital into competitive advantage

A dual focus on developing people and managing them well gives a select group of companies a long-term performance edge.

Emphasize skill development

Addressing the revolving door in risk

As the field of risk management evolves, the value proposition for employees has to evolve as well.

Create more interest

To see more essential reading on topics that matter, visit McKinsey Themes.

— Edited by Eleni Kostopoulos, managing editor, New York

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by "McKinsey & Company" <publishing@email.mckinsey.com> - 12:42 - 24 Mar 2023

Announcing a new way to read the McKinsey Quarterly

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Executive insights, now for everyone

For nearly six decades, the McKinsey Quarterly has been McKinsey’s flagship print publication, available only to a relatively limited number of print subscribers. We’re now delighted to offer the Quarterly to a wider audience in a digital experience that has all the same content and elegance of the print magazine, but in an engaging package that helps to reduce our collective carbon footprint—as we accelerate on the path toward a more sustainable future for all of us.

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by "McKinsey & Company" <publishing@email.mckinsey.com> - 07:27 - 24 Mar 2023

So you want to be CEO? Here’s how.

The Shortlist

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FOUR OF OUR BEST NEW IDEAS

Curated by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

Twice monthly, we bring you four new insights out of the dozens we publish that we think are worth a second glance from any business leader in any geography. In this edition, we look closely at new advice for CEO aspirants, the squeeze on middle management, and more. We hope you enjoy the read.

—Liz and Homayoun

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What’s new

One in a million. When Mary Barra joined General Motors as an 18-year-old intern, she was more likely to be struck by lightning than become CEO. The odds were far lower than one in 750,000 (the number of GM employees at the time). Yet today, she’s nearly ten years into her tenure. How did she—and dozens of other CEOs—beat the odds? There’s no guaranteed formula, but we’ve isolated four key pieces of advice that will greatly increase your chances of winning the top job.

To get your trail map, read Stepping up: Becoming a high-potential CEO candidate, a new article by Carolyn Dewar , Scott Keller , Vikram Malhotra , and Kurt Strovink .

Image of a red figurine in the middle of an office cubicle layout

What’s now

Middle managers can’t win. Sometimes they’re seen as superfluous; “managers managing managers” is one recent criticism. Sometimes they’re so vital to everyday operations that they’re essentially still working a line job, with no time to help the people who report to them. If those people leave for lack of a good boss, the company suffers. Where’s the middle ground?

If your company is in one of these traps, our new article has tips to get out. Check out Stop wasting your most precious resource: Middle managers, by Emily Field , Bryan Hancock , Marino Mugayar-Baldocchi, and Bill Schaninger .

Illustration of a person trying to turn several gears

What’s next

The rise and rise of generative AI. Not all business problems are machine learning problems. But looking at some persistent challenges through a machine learning (ML) lens can lend critical new insight. Applying foundational models like ChatGPT to specific issues can significantly shorten the time needed for model development, a key step in ML applications. Fashion companies are already using generative AI to shorten their design cycle.

Speed up your problem solving with A new and faster machine learning flywheel for enterprises, by Medha Bankhwal and Roger Roberts .

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What’s needed

Let’s also be smart about intelligence. New automation and AI technologies are poised to change the world. But whether they’re moving the needle in the direction of shared, sustainable global prosperity is another question altogether. In a new report, we found that education—of all kinds, including emotional and social skills, and at all learning stages—will be critically important to ensuring tech-fueled growth leaves no one behind.

To learn more about the looming skills gap—and how to close it—check out The skills revolution and the future of learning and earning, a new report by Emma Dorn , Stephen Hall , Hibatalla Ibrahim, Shajia Sarfraz, Dirk Schmautzer , and Safia Tmiri.

We hope you find this synthesis helpful. See you in two weeks with four more ideas from McKinsey.

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by "McKinsey Shortlist" <publishing@email.mckinsey.com> - 02:29 - 24 Mar 2023

Where does shared autonomous mobility go next?

On Point

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

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

On shared autonomous mobility

In the news

•

Boosting employment. Many people with disabilities have limited options for accessible transportation, making it difficult to find employment. Self-driving cars might enable millions of Americans with disabilities to participate in the workforce, per a National Disability Institute study. In 2021, 21% of Americans with disabilities held jobs, compared with nearly 70% of people without disabilities. Widespread adoption of self-driving cars could add an additional 9.2 million US workers to the labor force, including 4.4 million people with disabilities. [Axios]

•

Smaller parking lots. Self-driving vehicles such as robo-taxis may reduce the need for big parking lots in urban areas, since consumers would probably need fewer private cars. However, nearly 70% of American adults say they are wary of fully autonomous cars, and many are confused about self-driving systems and how they operate, a recent AAA survey has found. Although self-driving cars have faced concerns over safety, a majority of serious collisions are caused by human error, according to a US government study. [The Week]

Competition will likely be most intense in major urban areas. Top AV markets worldwide will likely include Beijing, London, New York City, Paris, and Shanghai.

On McKinsey.com

•

Commercializing autonomous cars. As the autonomous-vehicle (AV) industry attempts to move from testing and validating the technology to launching and commercializing it, it faces some challenges. Pure-play AV players have seen dropping valuations, and investments into the space are slowing. However, commercial successes of key players in China and the US suggest that the promise of shared autonomous mobility, including robo-taxis and robo-shuttles, could soon be realized for the on-road, inner-city transportation of people, explain McKinsey partner Kersten Heineke and coauthors.

•

Selective capital. Today’s uncertain economic and political environment has created headwinds for R&D and venture capital investments. With more cautious investors, capital has become more selective. AV players gearing up for commercialization will require significant capital outlays before the business can turn profitable. McKinsey analysis suggests cumulative burn rates of about $50 billion to $67 billion through 2030, with results varying by region. Consider five key factors that may influence the future shared AV market.

Understand the shared AV market

— Edited by Belinda Yu, editor, Atlanta

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 10:10 - 23 Mar 2023

See Adobe Commerce in action at our upcoming demo webinar

Adobe

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Buyers love to buy. And seamless, personalised experiences keep them coming back for more. Join our next APAC demo webinar to discover how Adobe Commerce gives you the best-in-class experiences that buyers expect.

You’ll see a high-level product demo (great for everyone, not just back-end users and developers!), and learn about the newest Adobe Commerce 2.4.5 release.

We also cover:

How AI makes product recommendations a breeze
B2B, D2C, and B2C features
Different tech architectures to fit all business models

It's time to bring your commerce vision to life.

Date:  Thursday 6 April 2023
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by "Adobe" <demand@info.adobe.com> - 10:06 - 23 Mar 2023

Reminder: Artificial Intelligence Webinar

Reminder: Artificial Intelligence Webinar 0.7.4

Dear MD Abul,

Next week, on March 30, Maike Schlumbohm, Director of Company Insights at Statista, will share crucial insights into the recent developments in artificial intelligence and its impact on companies.

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by "Statista | Webinars" <webinars@statista.com> - 09:04 - 23 Mar 2023

Monitoring software shouldn’t be hard.

New Relic

Without a complete picture of application performance, incidents can catch you off guard—and fixing them can take uncomfortably long. Using distributed tracing in New Relic APM gives you that complete picture, so your team can have the answers they need to stay a step ahead.

With distributed tracing, teams can:

Trace the path of a request as it travels across a complex system.
Understand where bottlenecks are occurring in the request path.
See and analyze where errors happen in the transaction at the individual service level.

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by "New Relic" <emeamarketing@newrelic.com> - 06:36 - 23 Mar 2023

How are the best CEOs navigating the turbulence of 2023?

On Point

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

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

Top trends for CEOs in 2023

In the news

•

Testing generative AI. CEOs and other leaders are experimenting with buzzy generative AI tools that can produce artwork, images, and text with human-like results. Using an AI-enhanced chatbot to write letters and emails has already enabled one leader, the CEO of an online learning platform, to “spend way more time thinking.” At an international architecture firm, an AI-based image generator has become so popular with clients that the company is working to create a formal set of policies on the use of generative AI. [WSJ]

•

More upbeat. At the start of 2023, CEOs were feeling a little more upbeat about the economy, reveals a survey of roughly 140 top US bosses. Chief executives’ sentiment isn’t consistent with a recession. This year, they forecasted that the economy would grow 1.4%, which is below historical levels of growth but also not in negative territory. The US job market has proven resilient, and business activity is also keeping up. However, inflation is still high, and 71% of CEOs said that they are worried about the national debt. [The Hill]

Companies that outperformed peers during the 2008 crisis cut operating costs by 1% before the downturn, while the others expanded costs by the same percentage.

On McKinsey.com

•

Three big trends. Which trends matter most to leading CEOs in 2023? McKinsey’s latest CEO Excellence Survey takes the pulse of the world’s top-performing CEOs’ evolving priorities and the actions they’re taking in response. Their answers suggest that three trends will have the biggest influence on how they lead their business in 2023 compared with past years: digital disruption, the economy, and geopolitics, find McKinsey senior partner Carolyn Dewar and coauthors.

•

Risks and opportunities. Today’s top CEOs are making defensive and offensive moves. Leaders who protect against risks and uncover new opportunities create a powerful playbook. To deal with digital disruption, 62% of CEOs say they are developing advanced analytics. One beverage company used geolocation data to personalize and target content for consumers, which led to a 17% increase in media spend ROI. Explore more actions CEOs are taking to navigate the turbulence of 2023.

See the actions of top CEOs

— Edited by Belinda Yu, editor, Atlanta

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:45 - 23 Mar 2023

A Tire Management Software that works with various industries

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Unlock the full potential of your tires. See how tire management software can benefit several industries.

Use Cases Across Industries

Mining Industry

Mining operations face harsh conditions that result in rapid tire wear and failures, causing costly downtime and safety risks. Our software tracks real-time tire wear and other metrics to identify potential issues, enabling proactive measures to prevent failures

Trucking Industry

Managing tire costs is crucial for trucking operations. With various tire brands and models to choose from, it can be challenging to identify the most cost-effective ones. Our software provides real-time tracking of tire performance and costs, to compare and optimize tire usage

Agriculture Industry

Efficient farm operations rely on tire monitoring for heavy machinery. Our software facilitates real-time monitoring of all tires, issuing alerts for underinflated, overinflated, or abnormally worn tires. Additionally, it generates various reports for analysis

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by "Sunny Thakur" <sunny.thakur@uffizio.com> - 12:30 - 23 Mar 2023

[Webinar] Boost Collaboration in Event-Driven Architecture with Development and QA Teams

SmartBear

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Scale. Update. Deploy: Boost Collaboration in Event-Driven Architecture

Join us on March 29 or 30 to learn how to use AsyncAPI with design-first methodology throughout the API lifecycle.

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Registration is now open for our March 29th webinar, Scale. Update. Deploy: Boost Collaboration in Event-Driven Architecture with Development and QA Teams.

As companies grow and rely more on automation and expansion through APIs, so does the need to manage that increasing complexity. 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. 

With SmartBear’s commitment to the API Lifecycle, we’ve added some new functionalities to our flagship API development and testing tools.

What Will Be Covered:

AsyncAPI standardization in SwaggerHub
How to import AsyncAPIs from SwaggerHub into ReadyAPI for testing
How to broker the complexity of EDAs with Pactflow
Live Demo and Q&A

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by "David" <davidmoussavou@server.com> - 08:35 - 22 Mar 2023

What’s the fate of globalization? New research breaks down changes in global flows.

On Point

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

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

How globalization is changing

In the news

•

Rerouting relationships. Multinational companies have spent decades investing in supply chains that span the globe. Now, amid shifting geopolitical tensions, organizations are revisiting their relationships with suppliers as they focus on safety and on diversifying their economic ties. World trade accounts for 57% of overall economic activity, down from a high of 61% in 2008. As companies reroute export and supply chain pathways, this has resulted in strengthened ties with some countries and reduced reliance on others. [WSJ]

•

Global melting pot. Some economists believe that globalization peaked in 2007, before declining in the face of the global financial crisis, populist politics, the pandemic, and war. But the global success of some K-pop groups shows that cultural globalization is unstoppable—there’s no winding back the blending of Western and Asian cultures. Moreover, one US economist points to an increase in cross-border trade in services as evidence that globalization is continuing. [Bloomberg]

“Multinationals play an outsize role in global flows. They are responsible for about 30% of trade, 60% of exports, and 82% of exports of knowledge-intensive goods.”

On McKinsey.com

•

Ties that bind. While flows of goods have leveled off after nearly two decades, they have also kept pace with GDP over the past few years, despite the COVID-19 pandemic and other disruptions, explains McKinsey Global Institute director Olivia White in an episode of The McKinsey Podcast. According to research by White and colleagues, globalization is evolving, rather than fracturing. Flows representing knowledge and know-how, such as intellectual property and data, and flows of services and international students are now growing faster than the flows of goods.

•

Stronger together. The world remains interdependent. In fact, “every region in the world depends on another significant region for at least 25% of a flow it values most,” White says. For instance, resource-rich regions of the world depend on other regions to import manufactured goods, while manufacturing centers depend on others for food and other resources. Listen to the podcast for more ways globalization could continue to progress in coming years.

See how global flows are evolving

— Edited by Gwyn Herbein, editor, Atlanta

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:08 - 22 Mar 2023

Proposal

Dear sir/Madam,
I have sent you this email from Goma, Democratic Republic of Congo.

I am writing to inquire if your company can supply food (rice)
to a war region.
We do not have cash money for payment, but we have raw gold for. exchange.

We shall convey our gold to you first before your supply.

Please note that your help can save lives over here.

Regards,
David Moussavou
davidmoussavou75@gmail.com

Food coordinator, Congolese Revolutionary Army Goma.

by "David" <davidmoussavou@sendgrid.net> - 05:36 - 21 Mar 2023

Attention

Dear sir/Madam,
I have sent you this email from Goma, Democratic Republic of Congo.

I am writing to inquire if your company can supply food (rice)
to a war region.
We do not have cash money for payment, but we have raw gold for. exchange.

We shall convey our gold to you first before your supply.

Please note that your help can save lives over here.

Regards,
David Moussavou
davidmoussavou75@gmail.com

Food coordinator, Congolese Revolutionary Army Goma.

by "David" <davidmoussavou@sendgrid.net> - 04:09 - 21 Mar 2023

Will you join us? 🎙Webinar: Future of global employment: what we learned from 1,500+ remote leaders.

Hi MD,

Don't miss out on the opportunity to gain valuable insights into the future of global employment and distributed teams! Our upcoming webinar, based on Remote's extensive research project, will provide you with key takeaways that you can implement in your business strategy. Join our team of experts as we delve into the data and discuss what it means for businesses in 2023 and beyond. Register now to secure your spot and make the most of this unique opportunity.

Don't miss out. Save your spot

Webinar: Future of global employment: what we learned from 1,500+ remote leaders

Date and times:

Thursday, March 30, 2023

5:00PM UTC

6:00PM CET

1:00PM EST

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What will you learn?

How are companies optimizing headcount costs hiring distributed teams?
How long does it take to fill open roles with remote talent?
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Speakers:

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by "Remote" <hello@remote-comms.com> - 08:17 - 21 Mar 2023

Join me on Wednesday for a live workshop - Improving Observability with New Relic Mobile and React Native

Hi MD,

With New Relic’s latest support for React Native, you can ingest data from framework-instrumented applications directly into New Relic. So now you can see not only application performance, but how the performance of your entire stack impacts users.

To learn more you can register for the free online workshop that I'll be hosting on Wednesday 22nd March at 2 PM GMT/ 3 PM CET.

In this practical session, you’ll learn the steps for instrumenting your React Native apps with New Relic, and use the data reported to understand and improve the performance of your applications over time.

You can find the full agenda on the registration page here. While we recommend attending the workshop live, you can also register to receive the recording.

I hope to see you then,

Liam Hurrell,
Lead Customer Training Specialist

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by "Liam Hurrell, New Relic" <emeamarketing@newrelic.com> - 06:36 - 21 Mar 2023

Streamline your Fleet Tires and Maximize your Savings

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One-stop solution for all tire monitoring issues. A tire management software that handles all aspects of tire inventory, operation, and inspection.

Find out what makes our software stand out from the crowd

Axle Configuration

With graphical representation, we offer you the simplest approach to define axle position.

Tire Inspection

Driver can easily inspect the tires through a mobile app and record findings making it easier to address the issues immediately.

Tire Maintenance Reminder

Set reminders based on parameters for timely maintenance. Get notified of important tasks with our tire maintenance reminder.

Reports and Analytics

Gain insights on tire usage, performance, and costs. Optimize your maintenance strategy with detailed analytics and reports.

Empower your clients with advanced tire management software

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by "Sunny Thakur" <sunny.thakur@uffizio.com> - 12:30 - 21 Mar 2023

Generative AI is here. How could tools like ChatGPT change your business?

On Point

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

Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities

Generative AI in business

In the news

•

New AI platforms. From AI-enhanced search engines to powerful chatbots, some of the biggest tech companies are introducing new generative-AI products and platforms, drumming up excitement from investors while other businesses race to create generative-AI tools of their own. Still, executives admit that the technology isn’t perfect. In February, a US journalist was left feeling deeply unsettled when a search engine’s chatbot declared that it loved him. Casting aside the hype, most businesses are still figuring out how to make generative AI a profitable endeavor. [Axios]

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Boom or bust? Generative-AI evangelists say the technology could change the world on the same order of magnitude that the internet did when it was introduced. Others who are less optimistic claim the technology will lead to job losses and, at the extreme end, pose an existential threat to humanity. Even if it seems improbable that killer robots will turn on us one day, developers of generative-AI tools urge caution. Many, including tech insiders, are asking regulators to establish guardrails as generative AI’s kinks are ironed out. [Vox]

Generative AI is pushing technology into a realm thought to be unique to the human mind: creativity.

On McKinsey.com

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Generative AI’s big moment. The latest breakthrough in AI relies on deep-learning models trained on broad data sets to create original content. That means generative-AI tools such as ChatGPT and DALL-E 2 can create entirely new text and images, opening up a world of possibility for businesses across industries, according to McKinsey Global Institute partner Michael Chui and coauthors. Generative AI has many potential uses in business. In marketing and sales, it could be used to craft personalized marketing, social media, and technical sales content.

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Ready, set, go. Generative AI is still in its infancy, which means there are real risks that come with jumping in headfirst. For example, generative AI can be wrong but still confidently offer incorrect responses to prompts without indicating this to the user. Another risk is that the massive amounts of data used by generative-AI tools may contain unwanted biases. Executives in companies considering generative AI can consider forming a cross-functional team, including data scientists, legal experts, and business leaders, to think through five basic questions.

Understand generative AI

— Edited by Alexandra Mondalek, editor, New York

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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:24 - 21 Mar 2023

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