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by "McKinsey Quarterly" <publishing@email.mckinsey.com> - 02:11 - 5 Jul 2023 -
Where is the world economy heading? See the key trends.
On Point
Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
• US inflation cools. The pace of inflation in the US slowed to 4.0% in May 2023, its lowest point in two years (after spiking to 9.1% in June 2022), government data reveals. Decreasing energy prices and a small uptick in food costs contributed to the decline. Some economists are keeping a close eye on housing inflation; costs related to housing went up 0.6% in May. Current conditions are “encouraging,” but the US might still experience an economic slowdown, albeit a delayed one, a chief economist said. [FT]
• Inflation still top of mind. Central banks across the world are looking to maintain interest rate interventions in the hopes of tempering inflation rates. In many regions and countries, inflation continues to moderate but generally remains high. Interest rates and sentiment are weighing on growth projections, and the picture is somewhat patchy, explain Sven Smit, McKinsey’s chair of insights and ecosystems and chair of the McKinsey Global Institute, and colleagues. Growth in some emerging economies such as China and India are outpacing developed economies.
• Uneven growth. In advanced economies, inflation in the US has declined, partly due to falling energy prices. Energy prices also came down in the eurozone, although food prices remain high, and experts believe the UK may be able to avoid a recession in 2023. Meanwhile, India is set to contribute around 15% to global growth, making it one of the world’s fastest-growing economies. Dive deeper into McKinsey’s macroeconomic data and analysis of the world economy to understand key global trends and risks.
— Edited by Gwyn Herbein, editor, Atlanta
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:47 - 5 Jul 2023 -
ขอแสดงความยินดีกับผู้ชนะกิจกรรม ตอบคำถามนวัตกรรมเพื่อความยั่งยืนฯ
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ขอบคุณที่ร่วมสนุกกับเรา!ชไนเดอร์ อิเล็คทริค ขอแสดงความยินดีกับผู้ชนะ ร่วมสนุกตอบคำถามกิจกรรม ตอบคำถามนวัตกรรมเพื่อความยั่งยืน
ตรวจสอบรายชื่อผู้โชคดีรับคูปอง Grab มูลค่า 50 บาท คลิกปุ่มด้านล่างเลย
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by "Gil Domb" <gil@techsalerator.com> - 12:40 - 4 Jul 2023 -
Monitoring software shouldn’t be hard.
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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.
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Time is Running Out | Sign up for the oneAPI DevSummit for HPC & AI, Southeast Asia 2023
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Load Monitoring Software that gives real-time insights for optimal load management on your vehicle.
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by "Sunny Thakur" <sunny.thakur@uffizio.com> - 12:30 - 4 Jul 2023 -
The sharper edge: A leader’s guide to competitive advantage
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Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
Companies can distinguish themselves in many ways. Besides such classic differentiators as cost or products, today’s competitive advantages can come from a variety of sources, such as new business models, disruption, culture, and technology. But in a highly competitive environment, finding a “superpower” and nurturing it may require the entire organization to pitch in, with visionary leadership at every level. This week, we explore some effective practices to build and sustain what makes your organization unique.
Few business leaders can afford to ignore this game-changing technology. In the view of McKinsey experts, “CEOs should consider exploration of generative AI a must, not a maybe. Generative AI can create value in a wide range of use cases.... The downside of inaction could be quickly falling behind competitors.” Options range from deploying specific generative-AI features on a smaller scale to implementations that can transform entire businesses. For example, one company uses an off-the-shelf generative-AI coding tool to improve productivity, whereas another has built and trained a foundation model from scratch to accelerate scientific research—a high-cost, resource-intensive process. To organize for generative AI, it may be best to start by convening a cross-functional group of the company’s leaders to identify and prioritize where the technology could generate the most value.
That’s the number of capabilities that companies need to build to outperform the competition, according to McKinsey senior partners Eric Lamarre, Kate Smaje, and Rodney Zemmel. In their new book, Rewired: The McKinsey Guide to Outcompeting in the Age of Digital and AI, the authors discuss what it takes for leaders to spark transformation across all six capabilities. A key step involves adopting a new operating model that brings business, technology, and operations closer together. “The shift to a new operating model is the signature move of CEOs in rewiring the company,” say the authors. “Only they can catalyze such large-scale organizational change.”
That’s McKinsey senior partner Carolyn Dewar and colleagues on how continuous-improvement practices can deliver a competitive edge for organizations. “Sometimes those improvements are big, often they are small,” say the McKinsey experts. “But what’s most important is they’re frequent.” For example, to increase performance transparency—an essential practice for continuous improvement—one company tracked capital asset utilization across different areas of its operations. Finding many assets that were poorly utilized, the teams that were using them channeled their energies into making the assets more productive—generating a 20 percent productivity leap in less than two months.
“I honestly believe that culture is a critical competitive weapon,” says Harvard Business School professor emeritus James Heskett in a discussion with McKinsey. But few leaders take the time to create a strong organizational culture. “We all agree that we need to address it, but it takes too long to do it,” Heskett says. “It’ll probably have to be handed off to some other leader.” Culture may be even more difficult to nurture in a hybrid environment where people in different geographic locations and work settings need to work together productively. In such cases, “An effective culture will ensure that there is adequate advocacy, that there is the right amount of face-to-face contact, and that certain really important values come to the fore: inclusion and voice,” says Heskett.
Corporate culture can be a major competitive advantage, but it can be hard to define. As the author of an Economist article puts it, “There is no substitute for being at a firm day in, day out, if you want to understand what it is really like.” One person’s idea of a good culture may be Ping-Pong tables and catered lunches, whereas another may prefer an inspiring mission statement. But most leaders would agree that a large part of building a robust culture lies in creating shared values and beliefs that govern how the organization works. This strategy has worked for smart-energy company Tibber, which credits much of its rapid growth to its sense of purpose. “At our core, I think all humans yearn for that,” says chief technology officer Richard Eklund in a McKinsey interview. “I feel we’ve arrived at an inflection point where purpose is becoming even more important than compensation.”
Lead with a competitive edge.
— Edited by Rama Ramaswami, senior editor, New York
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by "McKinsey Leading Off" <publishing@email.mckinsey.com> - 02:19 - 3 Jul 2023 -
What potential paths could the global economy take from now to 2030?
On Point
Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
• A fragile recovery. The world economy is expected to make a tenuous recovery in 2023 and 2024 as inflation and elevated interest rates continue to affect banking, consumer spending, and growth, according to the OECD. Although the economy is improving, risks abound, including the ongoing war in Ukraine and rising debt in developing nations. Global GDP is now projected to grow 2.7% in 2023, a 0.5% increase from the OECD’s previous forecast. Economies in Asia—including China, India, and Singapore—will fuel much of that growth. [AP]
• It’s one thing on paper. Asset price inflation over the past two decades created about $160 trillion in wealth—on paper. At the same time, economic growth was sluggish, inequality rose, and every $1.00 in investment ended up generating $1.90 in debt. With recent turbulence in the banking sector and heightened geopolitical tensions, conditions have changed from the years of loose money and seemingly endless increases in wealth, according to Sven Smit, McKinsey’s chair of insights and ecosystems and of the McKinsey Global Institute, and colleagues.
— Edited by Katherine Tam, editor, New York
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by "McKinsey On Point" <publishing@email.mckinsey.com> - 12:43 - 3 Jul 2023 -
รายเชิงลึกเชิงลึกเกี่ยวกับสินทรัพย์ด้านไฟฟ้าของไซต์งานคุณ
Schneider Electric
by "Warachai Chaturasathaporn, Schneider Electric" <Marcom.thailand@se.com> - 10:02 - 2 Jul 2023 -
Top 10 reports this quarter
McKinsey&Company
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Our top ten reports this quarter look at the state of organizations, how to accelerate productivity growth, and more. At No. 1, Michael Chui, Eric Hazan, Roger Roberts, Alex Singla, Kate Smaje, Alex Sukharevsky, Lareina Yee, and Rodney Zemmel reveal how gen AI could unlock trillions of dollars in value across sectors.
Africa’s economy downshifted over the last decade, yet half of its people live in countries that have thrived on the continent. Africa has the human capital and natural resources to accelerate productivity and reimagine its economic growth, which is, more than ever, vital for the welfare of the world. Download the full report
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by "McKinsey Top Ten" <publishing@email.mckinsey.com> - 03:39 - 2 Jul 2023 -
The week in charts
The Week in Charts
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by "McKinsey Week in Charts" <publishing@email.mckinsey.com> - 03:57 - 1 Jul 2023 -
EP66: Comparison of URL, URI, and URN
EP66: Comparison of URL, URI, and URN
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This week’s system design refresher:
OAuth 2 explained in simple terms (Youtube video)
Comparison of URL, URI, and URN
Data Warehouse vs Data Lake
Twitter 1.0 Tech Stack
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OAuth 2 Explained in Simple Terms
URL, URI, URN - Do you know the differences?
The diagram below shows a comparison of URL, URI, and URN.
URI
URI stands for Uniform Resource Identifier. It identifies a logical or physical resource on the web. URL and URN are subtypes of URI. URL locates a resource, while URN names a resource.
A URI is composed of the following parts:
scheme:[//authority]path[?query][#fragment]
URL
URL stands for Uniform Resource Locator, the key concept of HTTP. It is the address of a unique resource on the web. It can be used with other protocols like FTP and JDBC.
URN
URN stands for Uniform Resource Name. It uses the urn scheme. URNs cannot be used to locate a resource. A simple example given in the diagram is composed of a namespace and a namespace-specific string.
If you would like to learn more detail on the subject, I would recommend W3C’s clarification.
What are the differences between a data warehouse and a data lake?
The diagram below shows their comparison.
A data warehouse processes structured data, while a data lake processes structured, semi-structured, unstructured, and raw binary data.
A data warehouse leverages a database to store layers of structured data, which can be expensive. A data lake stores data in low-cost devices.
A data warehouse performs Extract-Transform-Load (ETL) on data. A data lake performs Extract-Load-Transform (ELT).
A data warehouse is schema-on-write, which means the data is already prepared when written into the data warehouse. A data lake is schema-on-read, so the data is stored as it is. The data can then be transformed and stored in a data warehouse for consumption.
Over to you: Do you use a data warehouse or a data lake to retrieve data?
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by "ByteByteGo" <bytebytego@substack.com> - 11:37 - 1 Jul 2023 -
Gen AI and the future of work
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Generative AI is powerful, accessible, and poised to change the anatomy of work. What impact could this new era of AI have on global productivity? And what can leaders do now to prepare for inevitable disruption? In this month’s first featured story, Michael Chui, Eric Hazan, Roger Roberts, Alex Singla, Kate Smaje, Alex Sukharevsky, Lareina Yee, and Rodney Zemmel present research that suggests gen AI could unlock trillions of dollars in value across sectors from banking to life sciences. In our second featured story, talent leaders Bryan Hancock and Bill Schaninger talk with McKinsey Technology Council chair Lareina Yee about the promise and pitfalls of using gen AI in HR—from recruiting to performance management to chatbot-enabled professional growth. Other highlights in this month’s issue include the following topics:
• how Africa can power its economic growth
• the four “superpowers” that can help CEOs respond to significant organizational shifts
• what companies are doing well and where they can improve when it comes to flexible work
• how CEOs can cultivate great design
Reimagining economic growth in Africa: Turning diversity into opportunity
Africa has the human capital and natural resources to accelerate productivity and reimagine its economic growth, which is, more than ever, vital for the welfare of the world.
Download the full report
All change: The new era of perpetual organizational upheaval
To flourish at a time when massive shifts are shaking their organizations, business leaders need to focus on the “superpowers” of speed, technology, talent, and leadership.
4 superpowers
Is your workplace ready for flexible work? A survey offers clues
Flexible work can deliver both better employee engagement and real estate savings. Here’s how tenants and investors can prepare.
Accommodate shifting needs
‘The creative process is fabulously unpredictable. A great idea cannot be predicted’
In this episode of The Quarterly Interview: Provocations to Ponder, Jony Ive, the former design head of Apple, talks about what it takes for the creative process to thrive at any company.
Think creatively
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.
Double down on growth
A monthly update on the state of the US consumer: June 2023
More consumers are feeling optimistic about the economy—but they’re also spending more cautiously. Here’s the latest research from our ConsumerWise team.
Understand changes
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Browse our essential reading on the topics that matter.
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McKinsey on Books
Explore this month’s best-selling business books prepared exclusively for McKinsey Publishing by Circana.
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McKinsey Chart of the Day
See our daily chart that helps explain a changing world—as we strive for sustainable, inclusive growth.
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Does creativity translate into actual business value? Read our 2017 classic “Creativity’s bottom line: How winning companies turn creativity into business value and growth” to find out.
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by "McKinsey Highlights" <publishing@email.mckinsey.com> - 11:15 - 1 Jul 2023 -
Last chance to register: Harness Generative AI Acceleration
Last chance to register: Harness Generative AI Acceleration
Harness Generative AI Acceleration with OpenVINO™ Toolkit
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Generative AI is exploding, bringing potential AI applications that could change everything we do. In this workshop, we'll delve into the world of transformer models, including Stable Diffusions and text processing, as well as explore how we've optimized these models to run on Intel’s wide variety of hardware.
What you’ll learn:
- Using Huggingface Transformers to create powerful AI solutions quickly
- Deploying stable diffusion and text processing from sophisticated Jupyter Notebooks
- AI applications can scale across GPUs and CPUs heterogeneously with Intel® Hardware
- How dynamic shape optimization maximizes Deep Learning performance
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by "Intel Developer Zone" <intel.developer.zone@plan.intel.com> - 10:03 - 30 Jun 2023 -
How boards can build organizational resilience, revenue growth techniques for restaurants, what Gen Z wants, and more: The Daily Read weekender
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Brought to you by Liz Hilton Segel, chief client officer and managing partner, global industry practices, & Homayoun Hatami, managing partner, global client capabilities
TECH FOR EXECS
Welcome to Tech for Execs: quick primers on key technology concepts to get leaders up to speed.
What is a data mesh? For both new and experienced data practitioners, managing data is not a trivial matter. Data mesh is a relatively new approach to data management. By decentralizing data to specific business domains like sales, marketing, or customer service, teams can have more ownership over their data and easily share it across the organization.
How does it work? A data mesh is as much a cultural shift as it is a technological one. Part of this is thinking of data as a product, rather than a by-product of a process—and treating data producers as product owners, who can manage their own data and create policies with their best interests in mind.
What are the biggest benefits of a data mesh? Organizations increasingly rely on efficient data collection, storage, and access so cross-functional teams can use it effectively, across the business. A decentralized data architecture is therefore great for scalability and accessibility, especially when used alongside cloud technologies. It reduces operational bottlenecks that come with centralized systems, freeing up technical teams so they can focus on more complex systems.
Where do I start? Moving to a data mesh means overhauling technology, processes, and the way people work. So you need to start with a solid strategy. This might involve investing in DataOps to accelerate design and development, as well as fostering a data culture across the organization.QUOTE OF THE DAY
chart of the day
Ready to unwind?
—Edited by Joyce Yoo, editor, New York
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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:23 - 30 Jun 2023 -
🙌 Your exclusive invite: Remote’s Product Roadmap 2023
🙌 Your exclusive invite: Remote’s Product Roadmap 2023
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Hi MD
We know that hiring efficiently and staying competitive in the global job market is important to our customers, which is why we have planned this next event specifically for you!
Your invitation: Join us for an exclusive look at Remote's 2023 Product Roadmap
Date: July 18, 2023Time: 1pm UTC
Join Remote's co-founder & CEO, Job van der Voort and Caio Tozzini, Director of Product and preview the new and exciting updates that are on our product roadmap for 2023 and beyond. We will also share what we’ve learned from years of facilitating global and remote employment and the impact it has had on our product, and how you, as customers, are the center of our product development.
We’ll conclude with a live Q&A where you can bring your questions and feedback directly to our product team.
Calendar clash?
Register for the webinar, and we’ll send you the session recording after the event.P.S. This webinar is free of charge and designed to provide you with the essential knowledge and tools to power your international expansion.
Grow your headcount
without the headaches.
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18 Bartol St. #1163 San Francisco California
by "Remote" <hello@remote-comms.com> - 08:00 - 30 Jun 2023
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