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• There’s a whole new way for advertisers to reach consumers

  Re:think

  Advertising will never be the same ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  FRESH TAKES ON BIG IDEAS ON THE FUTURE OF ADVERTISING The sea changes that are upending advertising Marc Brodherson Advertising is an amazing industry. It’s worth about a trillion dollars globally, grows above GDP, and is either the primary business model or one of the fastest-growing ones for at least five of the top ten companies by global market cap. Advertising matters to traditional media companies and tech giants, big brands and small businesses, agencies and other ad services and tech providers, and now even to nonmedia consumer companies that are starting advertising businesses.  There’s been a sea change, which is now accelerating, in traditional brand advertising as consumers spend their time differently and tech giants compete with traditional TV advertising. Younger audiences are spending more time watching short-form mobile videos—versus traditional TV content—and playing video games that are normally less amenable to advertising. Combined with the rise of ad-free streaming, these trends make it harder than ever to reach audiences who can pay to avoid ads, and they raise socioeconomic questions about who has to see them.  Another growing trend is large tech platforms launching ad-supported tiers for their streaming products and moving into the most valuable ad category of all: live sports. At minimum, this will make the market even more competitive for legacy TV and further collapse the boundaries between brand and performance marketing as well as digital and TV marketing.  But the biggest trend right now is the rise of e-commerce companies building advertising businesses by selling access to their consumers. We call this retail media or commerce media. This is a new way for advertisers to reach consumers. Right now, retail brands with consumer data can reach customers at the moment they express interest in a product. They sell sponsored listings, which then pop up to consumers as suggested products. In some cases, these lines of business are worth tens of billions of dollars, with margins that can exceed 20 times traditional retail margins. The investor community is starting to recognize commerce media as a material part of company valuations, though retailers are primarily known for selling consumer goods rather than ads.  Retail media is expanding to players like rideshare and delivery companies, which know users’ locations and can put relevant ads in the apps at the right time. Hotel chains are doing it, credit card companies and banks are looking at it, and airlines have the potential to get into it—they have screens on planes and in apps, and physical media such as billboards and in-flight magazines in the terminal, on the jet bridge, or on the plane.   “By 2028, we believe that spending in retail and commerce media will be bigger than for all of global television and streaming advertising.” These seismic forces are reshaping advertising. By 2028, we believe that global retail and commerce media spending will be bigger than all of television and streaming advertising. This provides an unprecedented ability to do closed-loop advertising, where a company can say, “I know an ad appeared, and I know it did or did not lead to a purchase.” It’s super-targeted, highly performative media. It effectively collapses the marketing full funnel—from awareness to consideration to purchase—into a single step. Media and social platforms are also experimenting with this, collapsing the funnel the other way by turning their content into shoppable media, in which the audience can make purchases inside of the content they are consuming. This leads to challenges on the advertiser side. In the past, a traditional brand doing a lot of brand advertising could call four TV networks, three newspapers, and maybe a little radio and premium digital publishing and be done. Now there is much more complexity to manage, figuring out how a whole new category of advertising fits in, how to measure ad effectiveness, and how to budget and plan.  There’s more opportunity, too. These changes allow small and local businesses into this new advertising ecosystem. They might not spend a million dollars on a TV campaign but may spend a few thousand to create a video ad, maybe with the help of generative AI, and hyper-target it.  We’re on the precipice of a huge shift, and companies are trying to make sense of it. The solution, obviously, is to try to get as much data as you can from willing customers to serve relevant ads. But that’s easy to say and hard to do, and there are major implications for consumer privacy in an environment where Big Tech companies are making changes to data collection, as well as more regulatory interest.   There are industry-level challenges, so there needs to be a fundamental reset for chief marketing officers and CEOs to align amid a different landscape, bring in new talent with new skills, encourage experimentation with new ad formats, and prepare for a shift toward new marketing ROI paradigms. Right now, there’s a lot of change with more questions than answers, but it’s a very exciting time. Share Marc Brodherson’s insights ABOUT THIS AUTHOR Marc Brodherson is a senior partner in McKinsey’s New York office. MORE FROM THIS AUTHOR The power of partnership: How the CEO–CMO relationship can drive outsize growth Amid a challenging macroeconomic environment and rapid change, CEOs are searching for the next engine for growth. The answer may be right in front of them: a redefined and reinvigorated relationship with their CMO. More  Beyond belt-tightening: How marketing can drive resiliency during uncertain times During tough times, marketing is often the first to be trimmed, but that’s a shortsighted approach. Instead, companies can invest in marketing as a key to long-term growth. More  UP NEXT Anna Pione on wellness After the COVID-19 pandemic moved into its endemic phase, investors and consumer executives wondered whether the wellness industry—which grew exponentially during the pandemic—would have staying power. The upshot: consumer interest in the space has never been higher. 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 our McKinsey Quarterly alert list. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Quarterly" <publishing@email.mckinsey.com> - 02:14 - 7 Feb 2024

• Panama Canal restrictions are expected to shake up global supply chains

  On Point

  Our analysis of the slowdown ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  DELIVERING ACTIONABLE INSIGHTS ON THE DAY’S NEWS As only McKinsey can Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Pain at the Panama Canal In the news • Dire drought. Fewer ships are passing through the Panama Canal as drought has brought local water levels to record lows amid the El Niño weather phenomenon and climate change. Roughly 40% of US container traffic, as well as about 5% of global maritime trade, typically passes through the canal. With the dry season expected to run through April and climate extremes intensifying, the conditions are only expected to get worse. [Foreign Policy] • Daily limit. Authorities overseeing the Panama Canal recently cut daily traffic through the narrow corridor to 24 ships a day, down by roughly a third from last year’s levels. The limits on canal passings are expected to result in significant economic losses, according to a canal official. Lower levels of water could cost approximately $500 million to $700 million in 2024, the official said. [AP] There could be nearly 4,000 fewer Panama Canal crossings as a result of the restrictions. On McKinsey.com • More time at sea. The slowdown at the Panama Canal will likely shake up regular shipping routes. A ship traveling from Asia to the Caribbean that would typically cross east through the Panama Canal (taking about 26 days) could instead go west around the Cape of Good Hope (taking about 39 days), McKinsey senior partner John Murnane and coauthors explain. A ship going from the west coast of South America to the Caribbean that would typically use the Panama Canal (taking about six days) could instead cross through the Strait of Magellan, completing what is essentially a full loop around South America (taking about 31 days). • Rising costs. No matter where ships might divert to, costs are likely to increase and be passed on to consumers. McKinsey analysis finds that new shipping routes could increase the total ocean transport costs of trade currently moving through the Panama Canal by about 5%, or an estimated annual $1.1 billion. Some ships will choose to pay extra for priority transit slots through the canal, while other vessels carrying less valuable cargo could find it cost prohibitive to use the canal. Learn how restrictions at the Panama Canal are likely to affect supply chains. Explore Panama Canal work-arounds — Edited by Jana Zabkova, senior editor, New York 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 newsletter because you subscribed to the Only McKinsey newsletter, formerly called On Point. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "Only McKinsey" <publishing@email.mckinsey.com> - 01:08 - 7 Feb 2024

• A Crash Course in P2P

  A Crash Course in P2P

  

  Create your free AI chatbot (Sponsored) Meet Sendbird SmartAssistant, a customizable chatbot powered by OpenAI’s GPT engine. The only chatbot that can be presented in your brand, trained with your own content, and deployed via low-to-no code. In this interactive Demo you will see how Sendbird offers:  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

  	Forwarded this email? Subscribe here for more A Crash Course in P2P ByteByteGo Feb 6   READ IN APP   Create your free AI chatbot (Sponsored) Meet Sendbird SmartAssistant, a customizable chatbot powered by OpenAI’s GPT engine. The only chatbot that can be presented in your brand, trained with your own content, and deployed via low-to-no code. In this interactive Demo you will see how Sendbird offers: LLM flexibility, with integrations into ChatGPT, PaLM2, LLaMa2, Sagemaker Security & privacy, with support for private or open-sourced models  Fast customization, with chat UI components for quick deployment  Scalability, with existing infrastructure supporting 7 Billion+ messages every month   Try SmartAssistant, part of Sendbird's AI-embedded communications platform across chat, messaging, voice, and video APIs, to enable faster, deeper engagement with your customers.  Create your demo A Crash Course in P2P In this issue, we are diving deep into the world of P2P (peer-to-peer) networks. It's all about computers talking directly to each other. We will take you on a cool journey, checking out how P2P networks evolved, the different P2P models, and the nitty-gritty details of how they work. We will talk about the challenges faced by P2P networks and a sneak peek into the future where blockchain and DeFi make things even more interesting. A P2P network is a type of network in which different computers communicate with each other directly without the need for a central server. The peer in the term indicates that all participating computers/systems are equal. These computers are also called nodes.  In a traditional network architecture (known as the client-server architecture), there is usually one server and multiple clients. If two clients want to communicate with each other, the message has to first reach the server and then the server sends the message to the second client.  History of P2P networks We start our discussion of P2P with the history of such networks, as it is not a recent concept. The evolution of P2P networks is a fascinating journey spanning several decades, marked by groundbreaking developments and innovations. Here is a timeline of key P2P applications and transformative moments in the history of P2P. Types of P2P models We would like to discuss how the P2P networks operate, but before we do that, it is important to understand the different ways in which peer-to-peer networks can be structured or categorized based on their functionalities. So, here are some common types of P2P models. Pure P2P model In this model, there is no central server or authority, and each node can act both as a client and a server.  Hybrid P2P model This model makes use of centralized servers for facilitating initial connection and peer discovery. Further communication between peers is carried out in a decentralized manner. This approach balances the benefits of a decentralized network with the efficiency of centralized coordination. Blockchain-based P2P model A blockchain-based Peer-to-Peer model refers to a decentralized network architecture where the principles of P2P interaction are combined with blockchain technology. In this model, blockchain serves as the underlying distributed ledger or database that records and verifies transactions, creating a secure and transparent environment for peer-to-peer interactions. This model is often associated with decentralized applications (DApps) and platforms that leverage the capabilities of blockchain for various purposes. Latest articles If you’re not a paid subscriber, here’s what you missed this month. Good Code vs. Bad Code Mastering Design Principles - SOLID A Crash Course in Networking Netflix: What Happens When You Press Play - Part 2 Netflix: What Happens When You Press Play? To receive all the full articles and support ByteByteGo, consider subscribing: Upgrade to paid How the P2P network operates Now, we are all set to discuss how a typical P2P network operates. As discussed earlier, the P2P network is an example of a decentralized architecture where each node has equal status and is capable of both requesting and providing resources or services. P2P networks can be used for various applications, including file sharing, communication, distributed computing, and more.  Here is a general overview of how a P2P network operates. Node Initialization When a new node in a P2P network boots up, it doesn’t know anything about the network, because there is no central server. Usually, developers provide a list of trusted nodes written directly into the code of the P2P client application that can be used for initial peer discovery. These trusted nodes could be centralized servers or peers depending upon the P2P application.   A node is usually identified by the following node triple: IP address, Port number, and node ID. The node ID should be unique with no collisions between peers. There are several methods to achieve this: Node ID is a random number generated once the P2P client is installed. Node id is a hash of the computer’s network card MAC address and hard disk serial number Take the example of Bitcoin, when a Bitcoin client starts, it checks its database for a list of reliable peers, if no such list is found it will use the default list hard coded into the software by the developers. Once the client has found a peer it will periodically look for new peers. The hard-coded list is just a bootstrap, once the client has a few nodes connected it doesn't need the original list anymore. The Bitcoin P2P system is designed to be very fault-tolerant and decentralized. Discovery and Connection After the node initialization, it needs a way to discover and connect with other nodes in the network. There are different methods for peer discovery in a P2P network. Some of the methods are discussed below.  Centralized Server / Tracker Server: In this method, there is a central server that has information about all nodes in the network. When a new node wants to join the P2P network, it first contacts the central server which provides the new node the information about other peers. The new node can then communicate directly with other nodes. This method may seem like client-server architecture. However, the server is only used for peer discovery and not for actual communication since after peer discovery, the communication among peers occurs directly.  The central server is also called a tracker in some P2P applications that maintains a list of active peers in the network. All existing peers periodically communicate with the tracker to confirm their availability and get a fresh list of all available peers. The hybrid P2P model utilizes this approach. Distributed Hash Tables (DHTs): It is a decentralized method for peer discovery commonly used in P2P networks. Nodes are assigned a unique identifier, and a distributed hash table is used to map these identifiers to IP addresses.  When a node wants to discover another peer, it can perform a lookup in the DHT to find the corresponding IP address. The pure P2P model utilizes this approach. Broadcasting and Multicasting: Nodes may broadcast their presence or send multicast messages to the network. Other nodes can listen to these broadcasts or messages to discover peers. This method is more common in smaller, local P2P networks.  For example, when a node sends a broadcast file request to the network, all peers who can provide the file send the message to the requester node. The node then chooses the specific peer to get the file from.  Distributed Data Storage Peers in a P2P network share resources directly with each other. Resources can include files, computational power, or other services. So, the question is, how these resources are being stored in a P2P network? We can understand this with the help of an example. In a file-sharing P2P network, each peer contributes a portion of its storage to host parts of files. This results in a distributed storage system where the complete file is reconstructed by combining contributions from multiple peers in the network. Routing and Lookup Every node maintains a lookup table (also called a routing table) where it stores the node information (IP, Port, and ID) of the closest peers it knows of. The implementation for lookup tables varies based on the topology, but all share a common principle - they enable nodes to identify the peer closest to any given node ID. If the peer has the data it will route it back to the query originator, if not, it will route the query to the closest node it has on its lookup table, this process continues recursively until the node that has the data is found.  Depending on the P2P protocol, there exist different metrics to define the distance between the node ID of two peers. For example, the very popular peer-to-peer protocol Kademlia uses the XOR-metric. Real-life applications of P2P network P2P networks have some cool real-life applications. Here are some common P2P applications along with the respective models they often fall into: Advantages of P2P network Decentralization P2P networks are designed to operate in a decentralized manner, meaning there is no central server or authority controlling the network. Redundancy and reliability The data is not placed in just one peer’s storage. Multiple peers have a copy of the same data which prevents a single point of failure - unlike the traditional client-server architecture where the central server has the data and can be lost if the server fails. Since data is distributed across multiple nodes, P2P networks are inherently redundant. If one node fails or leaves the network, the data can still be retrieved from other nodes, enhancing reliability. Scalability A P2P network is more scalable than a traditional client-server architecture. In a traditional client-server architecture, a single server has to handle all requests. If there are too many client requests, the server may not be able to handle all of the requests. However, in the case of P2P, each request is not necessarily handled by a single node, thus providing scalability. Distributed computing P2P networks can be used for distributed computing tasks where processing is distributed among multiple nodes. This is beneficial for tasks that require significant computational power. File Sharing and content distribution P2P networks, especially those using protocols like BitTorrent, excel in distributing large files efficiently. Users can download and upload simultaneously, reducing the load on individual servers. Privacy and anonymity In P2P systems, users may enjoy increased privacy and anonymity as they communicate directly with peers without relying on a central server. This can be advantageous in applications where privacy is a concern. Challenges in P2P network Let’s now discuss, some of the challenges in P2P networks.  Security concerns P2P networks can be more vulnerable to security threats, including unauthorized access, malware distribution, etc. Dependency on peer availability The availability of data in a P2P network depends on the willingness and availability of peers to share that data. If certain nodes leave the network or become unresponsive, it can affect the availability of resources. Legal and copyright issues P2P networks are known to share and spread copyrighted material. Sharing copyrighted material can lead users to legal issues.  For example, Metallica (a music band) filed a lawsuit against Napster in 2000. Napster was shut down in 2001. In another incident, the alleged owner of one of the biggest torrent sites, i.e., kickasstorrents, was arrested by the US authorities from Poland back in 2016. Similarly, another famous torrent site for movies YIFY Torrents or YTS also went down in 2015 after facing a lawsuit from Motion Picture Association of America. Regulatory frameworks for P2P networks P2P networks are playing a significant role in shaping the Internet's future. Nevertheless, it's crucial to address specific legal and ethical considerations. For instance: Sharing copyrighted material without permission is a strict no-go. For blockchains, implementing KYC (know your customer) procedures for every user is important. This helps prevent potential issues, such as, money laundering and other illegal transactions through cryptocurrencies. Security in P2P networks is paramount. Measures must be in place to prevent any unauthorized access by hackers to users' computers on the network. It's essential to ensure that no malware spreads through the P2P network. What lies ahead for the P2P networks? P2P networks have gained traction in recent years when it comes to file sharing and cryptocurrency. With the advent of DeFi (decentralized finance) on blockchain, the future of P2P networks looks greener than ever. DeFi platforms allow people to lend or borrow funds from others without relying on any financial institute or brokerage. The most prominent blockchain that supports DeFi is the Ethereum blockchain. Furthermore, P2P could play a role in how our smart devices communicate. Imagine your smart fridge and coffee maker having a direct chit-chat without involving a server. They might even plan your breakfast together. Sounds fun! isn’t it?  Recap Here is what we have covered in this newsletter: P2P networks follow decentralized architecture where inherently there is no central server acting as authority. We have discussed the different models of P2P networks such as pure, hybrid, and blockchain-based P2P networks.  A detailed description of how a generic P2P network operates is discussed in this issue.  We have presented the advantages and challenges of P2P networks, together with some of the instances of the legal and copyright issues faced by P2P applications in the past.  The future of the P2P network looks brighter than ever with the advent of blockchain and DeFi technologies.    Like Comment Restack   © 2024 ByteByteGo 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe

  

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  by "ByteByteGo" <bytebytego@substack.com> - 11:38 - 6 Feb 2024

• [Online workshop] Level up your Kubernetes observability with New Relic

  New Relic

  Are you familiar with Kubernetes, but want to gain a deeper understanding of some powerful kubectl commands to explore the cluster, work with labels, annotations and Helm settings to configure your environment from an observability perspective using the Prometheus agent? Then this interactive workshop is for you. Register for our free workshop, "Level up your Kubernetes observability with New Relic" on 22nd February at 10 am GMT/ 11 am CET to learn how to get hands-on with a working Kubernetes environment, improve your understanding of the Prometheus Agent and how to make configuration changes that affect the metrics sent to New Relic. Join New Relic’s Kubernetes and observability expert, Harry Kimpel, to get hands-on with a live Kubernetes environment. During the webinar, New Relic experts will take a technical dive into configuring the Prometheus agent, best practices and strategies, covering topics including: Install the Prometheus Agent (and other New Relic components) into a Minikube cluster Work with Kubernetes labels and annotations to incrementally ingest new Prometheus metrics into your New Relic account View the data ingest in real-time with a supplemental New Relic dashboard specifically built for this Instruqt lab Learn how to manipulate data ingest by dropping labels and metrics using Prometheus Agent configuration techniques Save Your Spot Need help? Let's get in touch. Ask Community Ask Support Contact Sales This email is sent from an account used for sending messages only. Please do not reply to this email to contact us—we will not get your response. View in browser This email was sent to info@learn.odoo.com  Update your email preferences. For information about our privacy practices, see our Privacy Policy. Need to contact New Relic? You can chat or call us at +44 20 3859 9190. Strand Bridge House, 138-142 Strand, London WC2R 1HH © 2024 New Relic, Inc. All rights reserved. New Relic logo are trademarks of New Relic, Inc Global unsubscribe page.

  

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  by "New Relic" <emeamarketing@newrelic.com> - 07:06 - 6 Feb 2024

• What can gen AI do for real estate?

  On Point

  7 steps to realize value ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  DELIVERING ACTIONABLE INSIGHTS ON THE DAY’S NEWS As only McKinsey can 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 real estate In the news • Your generative AI assistant. AI is entering a new phase in which people will be able to create and customize their own generative AI (gen AI)–powered chatbots, increasing productivity for individuals and companies. For instance, in real estate, a chatbot could draw information from a company’s database of listings and provide speedy responses. In addition to enhancing task efficiency, in the future, users could potentially generate income by offering their personal chatbots to the public, one tech executive said. [NYT] • AI at every turn. The chief information officer of a global real estate company says that it is incorporating AI at each stage of the commercial-real-estate transaction. The business created an AI task force to provide internal assistance to employees, as well as to assess AI tools for risk and protect client and employee data. In addition, the company is developing a global technology center to ensure that its AI-based tech products “are genuinely enterprise-grade and scalable,” said the executive. [Fortune] In our own work with AI, we have seen real estate companies gain over 10% or more in net operating income. On McKinsey.com • Getting value from gen AI. Gen AI technology comes at a favorable time for the real estate industry, as investors have gained access to a vast trove of client, community, and property data. When used as input for gen AI tools, such data could be leveraged to customize those platforms, enabling them to identify new commercial opportunities and increase revenue, McKinsey senior partner Matt Fitzpatrick and coauthors explain. However, realizing the full value of gen AI isn’t as simple as adopting one of the major foundational models. Companies should be prepared to address challenges in implementation and scaling. • Operating more efficiently. Through the use of AI, it’s possible for real estate companies to create a stronger customer experience, boost tenant retention, and create more efficient operating models. For instance, lease documents can be dense, making it tough for property owners to find the information they need. A gen-AI-based tool can sift through the documents, summarizing key themes, such as how much rent is expected monthly. Read the full article to see seven actions real estate leaders can take to fully benefit from gen AI. Seize gen AI’s advantages — Edited by Vanessa Burke, editor, Atlanta 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 newsletter because you subscribed to the Only McKinsey newsletter, formerly called On Point. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "Only McKinsey" <publishing@email.mckinsey.com> - 01:42 - 6 Feb 2024

• Video Telematics Solution - Monitor the Behavior of Vehicles and Drivers

  Video Telematics Solution - Monitor the Behavior of Vehicles and Drivers

  Change the way your clients track and monitor their fleet with our advanced video telematics software.

  Download E-book Change the way your clients track and monitor their fleet with our advanced video telematics software. Catch a glimpse of what our software has to offer Multiple Camera Support Our software enables multiple camera support for a comprehensive view inside and outside the vehicle. Identify Risky Behavior Monitor risky driver behavior, including speeding, harsh braking, and other unsafe driving habits. Redefine Visibility Make a visual record of the tiniest details of your vehicle’s journey. With ready-to-access visual data displayed in real-time, see what the driver is doing. 24X7 Live Streaming Access video recordings instantly anywhere, anytime with our mobile app support. Enjoy multiple channel access and flexible viewing options. ADAS ADAS uses sensors and cameras to detect potential hazards and alert drivers to potential risks.  Driver Monitoring System DMS monitors driver behavior, including fatigue and distraction. The system gets real-time alerts and detailed reports. Learn how our video telematics can help your business grow Schedule a Meeting www.uffizio.com info@uffizio.com +91-7283858080 Uffizio Technologies Pvt. Ltd., 4th Floor, Metropolis, Opp. S.T Workshop, Valsad, Gujarat, 396001, India Unsubscribe Manage preferences

  

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  by "Sunny Thakur" <sunny.thakur@uffizio.com> - 07:00 - 5 Feb 2024

• So you want to be a board director: A leader’s guide

  Welcome aboard ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  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 Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Serving on a board of directors is an unequivocal opportunity for leaders to develop new skills, hone their business acumen, and expand their personal and professional networks. And boards themselves benefit from the fresh perspectives that new directors bring to the boardroom. But for those who haven’t taken the plunge, the “how” of joining a corporate board is less than clear. Board membership is also a significant investment of time, especially as the board’s role—and the range of issues that come across a board member’s proverbial desk—continues to expand and evolve. We’ll take a look at specific ways to get started on your board journey and what success looks like once you’re there. AN IDEA Ask, don’t tell While the path to board membership may seem winding or murky, McKinsey senior partner Celia Huber and colleagues outline six steps that board-curious leaders can take. Wherever leaders are on the journey, they shouldn’t underestimate the value of asking questions: an “ask, don’t tell” policy is an important way for directors to contribute and clarify their role. “First-time directors often find it difficult to step away from an operator mentality,” the authors say. A director’s job “isn’t to offer solutions but to probe and constructively challenge management’s proposals to make executives reflect on their decisions. Your objective should be to help the management team see ten steps ahead.” With so many competing priorities to weigh, the ability to ask thoughtful questions about everything from generative AI (gen AI) to the company’s purpose is paramount. A BIG NUMBER 60 That’s the percentage of directors who, in a global survey, believe their organizations are unprepared to manage the next large-scale crisis. In a conversation about preparing for extraordinary risks, McKinsey’s Celia Huber and colleagues note the importance of identifying “predictable surprises”: events that would, with great certainty, change a company’s entire business. Boards, and new directors in particular, have a critical part to play in this process. “If the board engages in approving strategy, it’s helpful to ask, ‘What would cause this strategy to fail?’” says senior partner emeritus Nora Aufreiter. “New members are sometimes best at identifying long-term core risks because they can step back and ask simple questions that longtime directors may not think of or assume the organization knows the answer to.” A QUOTE “Resilience is a new muscle for everyone and how boards and management teams work together to build that muscle is going to be extremely important.” That’s senior partner Asutosh Padhi discussing the board’s role in building a resilient organization: that is, a company that can change course when faced with a potential shock. So much of a director’s job is a balancing act. Collectively, boards must also walk and chew gum at the same time in preparing their companies for both the current moment and what’s to come. “Fundamentally, board members can think about the balance between defensive versus offensive responses to crisis, short-term versus long-term trade-offs, and appropriately challenging management,” says senior partner Ida Kristensen. A SPOTLIGHT INTERVIEW While the board’s role is continually changing, the people part of its work is perhaps more critical than ever—especially for the person at the top. “Being CEO is a lonely job,” says Nicolai Tangen, the CEO of Norges Bank Investment Management (NBIM), in an interview with senior partner Frithjof Lund. “CEOs need someone they can talk to and trust. You are there not only to ask the right questions but also to look for signs of stress and burnout and provide early support to CEOs in need.” And while CEO succession remains a fundamental board responsibility, broader issues of talent, skill development, and organizational culture are now firmly on the agenda. I ASK, THEREFORE I AM Popular wisdom suggests that there’s no such thing as a stupid question. Indeed, the willingness to ask questions—even ones that seem obvious or tough—is an important way for prospective and new directors to showcase their intellectual curiosity and ways of thinking, including when interviewing for the role. That can be easier said than done for new members who are just getting their bearings. If you’re reluctant to speak up at the start of your tenure, take a page from Albert Einstein’s book. One way to contribute to board discussions from the start is “question storming”: that is, starting a problem-solving session by asking as many questions (more than 50!) as you can about the problem at hand. Once you and your board colleagues have some answers, a solution will be much easier to reach. Lead by asking questions. – Edited by Daniella Seiler, executive editor, Washington, DC 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 © 2024 | 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> - 04:35 - 5 Feb 2024

• Attitudes about college are changing. What should US higher ed leaders do?

  On Point

  5 actions to support students ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  DELIVERING ACTIONABLE INSIGHTS ON THE DAY’S NEWS As only McKinsey can Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Universities under pressure In the news • A changing curriculum. According to the Wall Street Journal, US postsecondary institutions face a reckoning similar to the sweeping change that followed the Industrial Revolution, which transformed schools that once catered to an agrarian society. Today, postsecondary schools are struggling to meet the needs of students in the digital era, a former university leader says. Students are being wait-listed for classes in subjects like computer science, while enrollments in humanities departments are, in some cases, dwindling. [WSJ] • Small colleges struggle. Small colleges—those with fewer than 5,000 students—in the US are struggling to cope with rising costs and declining revenues. Roughly 170 small, not-for-profit institutions of higher education meet multiple criteria for stress, including having a high rate of admission and operating at a deficit for at least three consecutive years, a Bloomberg News analysis of about 1,000 American schools has found. In 2023, about ten four-year colleges either closed or stated their intentions to shut down. [Bloomberg] The average gap in completion rates between high- and low-performing two- and four-year institutions remains 30 percentage points. On McKinsey.com • Learning and earning. US higher education faces tough times. Although people clearly benefit from securing a postsecondary degree—earning more money over their lifetimes, for instance—enrollment growth is slowing, student debt is at an all-time high, and many Americans are developing a dimmer view of institutions of higher learning. In light of these challenges, the sector should still set a bold goal: to graduate ten million more students than currently projected over the next 20 years, McKinsey senior partner Jonathan Law and coauthors suggest. • Future job requirements. A drop in the US birth rate, changing attitudes, and fallout from the COVID-19 pandemic have contributed to a decline in college and university enrollment rates across the US. Even so, demand for workers with degrees has increased. Of the new US jobs projected to be created through 2030 (in fields such as nursing, teaching, and cybersecurity), 86% will likely require postsecondary education, McKinsey analysis finds. Explore the barriers that learners are up against and five actions that US higher ed leaders can take to remedy them. See a strategy for US higher ed — Edited by Belinda Yu, editor, Atlanta 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 newsletter because you subscribed to the Only McKinsey newsletter, formerly called On Point. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "Only McKinsey" <publishing@email.mckinsey.com> - 11:08 - 4 Feb 2024

• Zooming in on the Black resident experience

  Black History Month begins ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities New from McKinsey & Company A place-based approach to racial equity “People shape places, and places in turn shape outcomes for people.” So write McKinsey’s JP Julien, Duwain Pinder, Shelley Stewart III, and coauthors in a new report from the McKinsey Institute for Black Economic Mobility that reveals substantial differences in overall outcomes for US Black residents across community profiles—as well as substantial gaps between Black and White residents in virtually every county. How can investors, companies, philanthropies, and public-sector leaders devise solutions that are transformative for Black residents and the trajectory of their communities? As Black History Month kicks off, check out these insights to understand the role of community in racial equity, as well as the opportunities that exist to advance outcomes for Black residents. Read more The state of Black residents: The relevance of place to racial equity and outcomes At the current pace of change, it could take decades to improve outcomes for Black Americans and more than three centuries to get to racial parity. How can different types of communities move closer to delivering a better quality of life for all residents? Change the trajectory  Impacts of climate change on Black populations in the United States Explore how extreme weather can put the prospect of Black livelihood, well-being, and socioeconomic mobility at greater risk. Adapt and build resilience  Advancing racial equity in US pre-K–12 education Six actions could help close racial gaps in US pre-K–12 academic achievement. 6 actions  Examining philanthropic funding for racial equity across the United States Philanthropic capital can help communities achieve more racially equitable outcomes. Our interactive maps reveal where the funds are going and where they are needed. See the analysis  The economic state of Black America: What is and what could be Closing racial gaps across the economy is not only about righting historic wrongs. It is also about choosing a more dynamic future and realizing the full potential of a massively underutilized source of talent, to the benefit of all Americans. Address the disparities  Closing the digital divide in Black America Five steps could help to bring broadband and digital equity to every Black household in the United States—urban and rural—while bolstering efforts to create a more inclusive economy. Closing the divide  To see more essential reading on topics that matter, visit McKinsey Themes. — Edited by Eleni Kostopoulos, managing editor, New York Follow our thinking McKinsey Insights - Get our latest thinking on your iPhone, iPad or Android. 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 our McKinsey Global Institute alert list. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey & Company" <publishing@email.mckinsey.com> - 06:45 - 3 Feb 2024

• The week in charts

  The Week in Charts

  Gen AI in fashion, future-proof jobs, and more ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   ALL THE WEEK’S DATA THAT’S FIT TO VISUALIZE Our McKinsey Chart of the Day 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 gen AI in fashion, future-proof jobs, OEM life cycle services, sustainable fuels, and leisure travel. FEATURED CHART Gen AI is so hot right now See more This week’s other select charts Job skills of the future The journey is the destination Flying high on sustainable fuels Leisure travel’s peaks and valleys 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 Week in Charts newsletter. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:21 - 3 Feb 2024

• Shifts in the geometry of global trade

  Plus, 10 digital and AI ideas shaping business ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   Monthly Highlights, February 2024 Global trade patterns are reconfiguring, and increased investment into a range of developing economies suggests further trade reconfiguration in coming years. What can business leaders do to position their organizations for uncertainty? In a report from the McKinsey Global Institute, Jeongmin Seong, Olivia White, Michael Birshan, Lola Woetzel, and coauthors explore shifts in the geometry of global trade—and their many implications. Our second featured story examines how a Panama Canal slowdown could affect various trade segments and stakeholders. Other highlights in this month’s issue include the following topics: • ten core business imperatives in digital and AI, and the importance of rewiring organizations • how better women’s health could add $1 trillion to the global economy • the trends shaping the consumer wellness landscape • how CEOs can prepare for compounding risks Editor’s choice Geopolitics and the geometry of global trade Global trade patterns are reconfiguring. More shifts are likely and businesses need to be aware of the potential trade-offs of different paths ahead. Be prepared for a range of shifts  How could Panama Canal restrictions affect supply chains? A cap on canal transits could reroute millions of tons of cargo. Different sectors face different choices. See the analysis  THIS MONTH’s HIGHLIGHTS Ten unsung digital and AI ideas shaping business Keeping your eye on where value comes from is still the name of the game. Rewire for value capture Closing the women’s health gap: A $1 trillion opportunity to improve lives and economies Investments addressing the women’s health gap could add years to life and life to years—and potentially boost the global economy by $1 trillion annually by 2040. Take a holistic approach The trends defining the $1.8 trillion global wellness market in 2024 Our latest Future of Wellness survey finds that consumers are taking greater control over their health—and expect companies to provide effective, science-backed solutions. 7 areas of growth How CEOs can mitigate compounding risks When risks combine, the cumulative impact can have existential consequences. But leaders can prevent compounding risks from sneaking up on them by adapting risk processes to manage multiple threats. Be prepared What to expect in US healthcare in 2024 and beyond A new perspective on how technology, transformation efforts, and other changes have affected payers, health systems, healthcare services and technology, and pharmacy services. See what’s ahead How to identify employee disengagement More than half of employees say they’re disengaged at work—with implications for both morale and value creation. Do any of these behaviors seem familiar? Take the quiz ALSO New Five Fifty: Are you an innovative grower? The changing landscape for banks The shape of talent in 2023 and 2024 Rewired and running ahead: Digital and AI leaders are leaving the rest behind Generative AI in operations: Capturing the value Accelerating Europe: Competitiveness for a new era Generative AI in the pharmaceutical industry: Moving from hype to reality Exploring consumer sentiment on electric-vehicle charging 2024 and beyond: Will it be economic stagnation or the advent of productivity-driven abundance? How airlines can handle busier summers—and comparatively quiet winters OUT NOW: How innovation seeds growth Research shows clearly that innovation drives growth. But how can you make this happen at your company? In this issue, we look deeply into what it really takes to be an innovative grower. See the latest issue of McKinsey Quarterly  Special features McKinsey Themes Browse our essential reading on the topics that matter. Get up to speed McKinsey Explainers Find direct answers to complex questions, backed by McKinsey’s expert insights. Learn more McKinsey on Books Explore this month’s best-selling business books prepared exclusively for McKinsey Publishing by Circana. See the lists McKinsey Chart of the Day See our daily chart that helps explain a changing world—as we strive for sustainable, inclusive growth. Dive in McKinsey Classics Is there a link between the strategic moves of new CEOs and the performance of their companies? Read our 2016 classic “How new CEOs can boost their odds of success” to learn more. Rewind The Daily Read Our Daily Read newsletter features revealing research and inspiring interviews to empower you—and those you lead. Subscribe now — Edited by Eleni Kostopoulos, managing editor, New York Follow our thinking McKinsey Insights - Get our latest thinking on your iPhone, iPad or Android. 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 are a registered member of our Monthly Highlights newsletter. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "McKinsey Highlights" <publishing@email.mckinsey.com> - 11:45 - 3 Feb 2024

• EP97: 10 Good Coding Principles to Improve Code Quality

  EP97: 10 Good Coding Principles to Improve Code Quality

  

  This week’s system design refresher: How Disney Hotstar Captures One Billion Emojis (Youtube video) 10 Good Coding Principles to improve code quality Top Network Security Cheatsheet How does a VPN work? Explaining 9 types of API testing What is a cookie?  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

  	Forwarded this email? Subscribe here for more EP97: 10 Good Coding Principles to Improve Code Quality ByteByteGo Feb 3   READ IN APP   This week’s system design refresher: How Disney Hotstar Captures One Billion Emojis (Youtube video) 10 Good Coding Principles to improve code quality Top Network Security Cheatsheet How does a VPN work? What is a cookie? ScyllaDB Summit | Feb 14-15 | Free + Virtual (Sponsored) Join thousands of your peers for an unprecedented opportunity to learn from experts at Discord, Disney, Expedia, Zee, ShareChat, Paramount & more – for free, from anywhere.  30+ talks on NoSQL, Kafka, Kubernetes, and AI/ML system architectures and best practices, plus interactive hands-on training.  Discord Keynote: Everything's great until the database is down. Bo Ingram, staff engineer at Discord and author of ScyllaDB in Action, shares lessons from their  database outage so that you can learn from their mistakes. Book Bonus: Register this week to get Database Performance at Scale and an early access copy of ScyllaDB in Action. GET YOUR FREE TICKET How Disney Hotstar Captures One Billion Emojis! Subscribe to our YouTube Channel Now 10 Good Coding Principles to improve code quality Software development requires good system designs and coding standards. We list 10 good coding principles in the diagram below. 01 Follow Code Specifications When we write code, it is important to follow the industry's well-established norms, like “PEP 8”, “Google Java Style”, adhering to a set of agreed-upon code specifications ensures that the quality of the code is consistent and readable. 02 Documentation and Comments Good code should be clearly documented and commented to explain complex logic and decisions, and comments should explain why a certain approach was taken (“Why”) rather than what exactly is being done (“What”). Documentation and comments should be clear, concise, and continuously updated. 03 Robustness Good code should be able to handle a variety of unexpected situations and inputs without crashing or producing unpredictable results. Most common approach is to catch and handle exceptions. 04 Follow the SOLID principle “Single Responsibility”, “Open/Closed”, “Liskov Substitution”, “Interface Segregation”, and “Dependency Inversion” - these five principles (SOLID for short) are the cornerstones of writing code that scales and is easy to maintain. 05 Make Testing Easy Testability of software is particularly important. Good code should be easy to test, both by trying to reduce the complexity of each component, and by supporting automated testing to ensure that it behaves as expected. 06 Abstraction Abstraction requires us to extract the core logic and hide the complexity, thus making the code more flexible and generic. Good code should have a moderate level of abstraction, neither over-designed nor neglecting long-term expandability and maintainability. 07 Utilize Design Patterns, but don't over-design Design patterns can help us solve some common problems. However, every pattern has its applicable scenarios. Overusing or misusing design patterns may make your code more complex and difficult to understand. 08 Reduce Global Dependencies We can get bogged down in dependencies and confusing state management if we use global variables and instances. Good code should rely on localized state and parameter passing. Functions should be side-effect free. 09 Continuous Refactoring Good code is maintainable and extensible. Continuous refactoring reduces technical debt by identifying and fixing problems as early as possible. 10 Security is a Top Priority Good code should avoid common security vulnerabilities. Over to you: which one do you prefer, and with which one do you disagree? Latest articles If you’re not a paid subscriber, here’s what you missed this month. Good Code vs. Bad Code Mastering Design Principles - SOLID A Crash Course in Networking Netflix: What Happens When You Press Play - Part 2 Netflix: What Happens When You Press Play? To receive all the full articles and support ByteByteGo, consider subscribing: Upgrade to paid Top Network Security Cheatsheet The diagram below shows some possible network attacks in 7 OSI model layers. Application Layer - Pushing - Malware injection - DDos attacks Presentation Layer - Encoding/decoding vulnerabilities - Format string attacks - Malicious code injection Session Layer - Session hijacking - Session fixation attacks - Brute force attacks Transport Layer - Man-in-the-middle attacks - SYN/ACK flood Network Layer - IP spoofing - Route table manipulation - DDos attacks Data Link Layer - MAC address spoofing - ARP spoofing - VLAN hopping Physical Layer - Wiretapping - Physical tampering - Electromagnetic interference Over to you - What did we miss? How does a VPN work? This diagram below shows how we access the internet with and without VPNs. A VPN, or Virtual Private Network, is a technology that creates a secure, encrypted connection over a less secure network, such as the public internet. The primary purpose of a VPN is to provide privacy and security to data and communications. A VPN acts as a tunnel through which the encrypted data goes from one location to another. Any external party cannot see the data transferring. A VPN works in 4 steps: Step 1 - Establish a secure tunnel between our device and the VPN server. Step 2 - Encrypt the data transmitted. Step 3 - Mask our IP address, so it appears as if our internet activity is coming from the VPN server. Step 4 - Our internet traffic is routed through the VPN server. Advantages of a VPN: Privacy Anonymity Security Encryption Masking the original IP address Disadvantages of a VPN: VPN blocking Slow down connections Trust in VPN provider What is a cookie? Imagine Bob goes to a coffee shop for the first time, orders a medium-sized espresso with two sugars. The cashier records Bob’s identity and preferences on a card and hands it over to Bob with a cup of coffee. The next time Bob goes to the cafe, he shows the cashier the preference card. The cashier immediately knows who the customer is and what kind of coffee he likes. A cookie acts as the preference card. When we log in to a website, the server issues a cookie to us with a small amount of data. The cookie is stored on the client side, so the next time we send a request to the server with the cookie, the server knows our identity and preferences immediately without looking into the database.   Like Comment Restack   © 2024 ByteByteGo 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe

  

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  by "ByteByteGo" <bytebytego@substack.com> - 11:38 - 3 Feb 2024

• What are the essentials of innovation?

  On Point

  Five fundamentals of innovation culture ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌   ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

  DELIVERING ACTIONABLE INSIGHTS ON THE DAY’S NEWS As only McKinsey can Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities Growth and innovation In the news • Win–win innovation. Innovation doesn’t always have to be disruptive, explain two business school professors in Harvard Business Review. “Nondisruptive creation” occurs when entrepreneurs invent a new market without replacing other businesses, which helps prevent job losses and corporate bankruptcies. Halloween costumes for pets—a $500 million industry—are one example. Organizations that practice nondisruptive creation consider ideas from all employees, not just a few. [HBR] • What makes economies grow. As reported in the Wall Street Journal, communities in mature economies prosper the most from making technological progress, not merely from accumulating wealth or increasing their populations, according to a Nobel Prize–winning economist who died in December. Innovation enables societies to become more efficient and productive, which stimulates economic growth, the late economist’s work revealed. The findings inspired governments and universities to strengthen R&D budgets. [WSJ] Companies with strong innovation cultures are much more likely to succeed in digital transformations. On McKinsey.com • Out-innovating your peers. The best companies don’t just outgrow their competitors—they out-innovate them as well. In the face of constant disruptions, leading companies become “innovative growers,” excelling at growth and innovation and outperforming their peers in the process. In fact, most of the 50-plus companies McKinsey identified as innovative growers achieved TSR above their industry median between 2012 and 2022, partner Rebecca Doherty and coauthors explain. • Facing your fears. Organizational culture is crucial for both successful innovative growth and adopting new technologies. But many companies struggle to create conditions that encourage risk-taking and experimentation. Fear of failure, criticism, and negative career impact can prevent organizations from investing in new ideas. Creating a supportive space where it’s OK to fail can help people overcome their anxiety. Learn the five actions leading companies take to build a thriving culture of innovation. Foster innovation — Edited by Belinda Yu, editor, Atlanta 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 newsletter because you subscribed to the Only McKinsey newsletter, formerly called On Point. Manage subscriptions | Unsubscribe Copyright © 2024 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007

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  by "Only McKinsey" <publishing@email.mckinsey.com> - 01:31 - 2 Feb 2024