mckinsey industry digitization index 2020

Flip the odds. Reinvent your business. Demand for basic digital skills has been increasing in all jobs. Demand for physical and manual skills will decline, but these will remain the single largest category of workforce skills in 2030 in many countries (Exhibit 5). When the pandemic hit, North America took the largest leap in digitization with 60% of its products and services now fully or partially digitized (McKinsey, 2020). Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more, Learn what it means for you, and meet the people who create it, Inspire, empower, and sustain action that leads to the economic development of Black communities across the globe, Select topics and stay current with our latest insights. These reports introduced the McKinsey Global Institute (MGI) Industry Digitization Index, which combines dozens of indicators to provide a comprehensive picture of where and how companies are building digital assets, expanding digital usage, and creating a more digital workforce. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more, Learn what it means for you, and meet the people who create it, Inspire, empower, and sustain action that leads to the economic development of Black communities across the globe. 4 Detailed information on the use of cookies on this Site, and how you can decline them, is provided in our cookie policy. They have 20 times more sales, four times more profit (based on net income margin), and five times more R&D investment than do median companies with annual sales above $1 billion. automation on jobs by MGI, McKinsey’s independent think tank, established in 1990 to develop a deeper understanding of the evolving global economy and cited as the world’s leading private-sector think tank in the 2018 Global Go To Think Tank Index Report. For the first time in history, emerging economies are counterparts on more than half of global trade flows, and south–south trade is the fastest-growing type of connection. Total economic profit, index (100 = 2016) After a three-year rise, economic profit is predicted to drop in 2020. This fourth in our annual series analyzes major themes around the fashion economy and breaks new ground to explain the dynamics driving the industry. Our flagship business publication has been defining and informing the senior-management agenda since 1964. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. The global fashion industry's profit is expected to fall by 93 percent in 2020. fashion industry (apparel and footwear sectors) will contract by 27 to 30 percent in 2020 year-on-year, although the industry could regain positive growth of 2 to 4 percent in 2021.4 For the personal luxury goods industry (luxury fashion, luxury accessories, luxury watches, fine jewellery and high-end beauty), Digital upends old models. Retail stores are under pressure, but remain important. The utilities sector was cited as a good example of an industry that could be at the forefront of future digital expansion. As emerging economies build more comprehensive domestic supply chains, they are reducing their reliance on imported intermediate inputs. They are being reshaped in part by technology, including automation, which could amplify the shift toward more localized production of goods near consumer markets. About 20 to 30 percent of the working-age population in the European Union and the United States is engaged in independent work. wisdom” to focus on the differentiators of success. September 16, 2020 – The cement plant of the future will embrace digitization and sustainability trends to earn a competitive advantage and build resilience. US companies still make up the largest share of the leaders, accounting for 38 percent, compared with 45 percent in the 1990s. McKinsey put the customer first in the Discovery phase — looking at customer behavior trends. our use of cookies, and Posted on February 16, 2021 by February 16, 2021 by Remaining challenges include notably low labor participation in high quality jobs, weak senior representation in the pipeline, high financial and digital exclusion, entrenched social attitudes about women’s roles, and pervasive problems of violence against women and girls. Our research included a new Industry Digitization Index, the first major attempt to measure digital progress and adoption in each sector. The results show uneven progress: The technology sector comes out on top — no surprise there. Digitization adds to GDP McKinsey estimates that Big Data, Internet of Things, and online talent platforms could add $2.2 trillion to the U.S. But McKinsey & Company, the global management consulting firm, is here to tell you that there’s nothing to worry about. Since the early 1990s, almost half of the entire cohort of superstar companies in one business cycle has been knocked out of the top decile by the next business cycle. For the global economy, too, AI adoption could be a boon, potentially raising global GDP by as much as $13 trillion by 2030, or about 1.2 percent additional GDP growth per year, according to a simulation we conducted. 2020 Money. Anu Madgavkar and Jonathan Woetzel, “Opinion: The critical role of outperforming emerging economies in poverty reduction,” Devex, October 11, 2018, devex.com. Automation will also spur growth in the need for higher-level cognitive skills, particularly critical thinking, creativity, and complex information processing. View in article (Forrester, 2019) According to sales leaders, AI adoption in sales was expected to grow by 155% in 2020. Six market-shaping forces are the key to its reinvention. These reports introduced the McKinsey Global Institute (MGI) Industry Digitization Index, which combines dozens of indicators to provide a comprehensive picture of where and how companies are building digital assets, expanding digital usage, and creating a more digital workforce. Our experts walk through the survey results, working with clients to apply best practices and establish a clear plan for closing performance gaps. The research is a snapshot of some surprising shifts in consumer behavior that highlights the importance of adaptability and versatility. View Johanna Lösch’s profile on LinkedIn, the world’s largest professional community. McKinsey 4Ds are on fire. The result is that goods-producing value chains have become less trade intensive, even as cross-border services are growing briskly—and generating more economic value than trade statistics capture, according to our analysis. Some of these shifts will happen within companies and sectors, but many will occur across sectors and even geographies. Within Europe, Germany operates at 10% of its digital potential, while the United Kingdom is almost on par with the United States at 17%. 31 Aug 2020… Distribution of digital talents in the financial services sector worldwide in 2019, by industry [Graph]. Policy makers and business leaders can do more to facilitate new work opportunities and to accelerate changing orthodoxies of work. Productivity growth averaged just 0.5 percent in 2010 to 2014, down from 2.4 percent a decade earlier. Use minimal essential For now, China and the United States are responsible for the most AI-related research activities and investment. Gross Domestic Product (GDP) by 2025. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. mckinsey global institute industry digitization index 2019 by December 20, 2020 Uncategorized 0 The number of refugees and asylum seekers rose by 2.5 million between 2005 and 2010, then jumped by 8.1 million between 2010 and 2015. Ok With the advent of AI, we find that sectors highly ranked in MGI’s Industry Digitization Index are also leading AI adopters and have the most ambitious AI-investment plans. Within Europe, Germany operates at 10%, while the UK is almost on par with the United States at 17%. P&C represents about one-third of premiums in the insurance industry—yet it has been losing relevance for years. While only about 15 percent of independent work is conducted on digital platforms now, that proportion is growing rapidly as people use these platforms to learn, find work, showcase their talent, and build personal networks. Learn about our use of cookies, and Over the past decade, even as its economy has grown, China’s exposure to the world, as measured by the magnitude of flows of trade, technology, and capital with the rest of the world relative to its economy, has declined. Many middle-wage jobs in advanced economies are dominated by highly automatable activities in fields such as manufacturing and accounting, which are likely to decline. Key Core banking Digital Front Office Payments Fund Admin Key SaaS License and Maintenance CAGR +8% CAGR of +6% On-premise market 2020-25 CAGR +25% SaaS market 2020-25 003 Temenos AG – Annual Report and Accounts 2020 We see four key transitions from automation and AI adoption. Industries have seen considerable changes in their market valuations in 2020; on March 23, the S&P 500 index reached its lowest point of the year. The research was led by Jorge Fernández García, Director of Innovation, EIT Health; Demand for social and emotional skills, such as communication and empathy, will grow almost as fast as does demand for many advanced technological skills. See the complete profile on LinkedIn and discover Johanna’s connections and jobs at similar companies. In the capital market, we see an increase in real wealth per adult and lower old-age poverty but greater wealth inequality, an increase in the number of heavily indebted households, and lower net pension-replacement rates. Unleash their potential. Our research found that in 2005 to 2014, real market incomes were flat or fell for between 65 and 70 percent of households in advanced economies. Digital 20/20 assesses an organization’s digital and analytics maturity to discover digital opportunities, identify gaps between current capabilities and those of digital leaders, and execute a prioritized road map of high-impact transformation initiatives. S&P Dow Jones Indices, “S&P Insurance Select Industry Index,” accessed September 30, 2020. This suggests that the growth in demand for work, barring extreme scenarios, would more than offset the number of jobs lost to automation. Please try again later. hereLearn more about cookies, Opens in new 10 December 2020 | Industry. In other words, more occupations are likely to be automated partially than wholly. Narrowing the wage gap between immigrant and native workers to 5 to 10 percent, from 20 to 30 percent, through better economic, social, and civic integration would translate into an additional $800 billion to $1 trillion in global annual output. A new $265bn annual profit pool awaits those willing to embrace construction's revolution. We live in an era of disruption in which powerful global forces are changing how we live and work. successful digital strategies. This often occurs because the size of the invested capital base amplifies any decline in the returns to capital relative to the cost of capital. Retail is a case in point, with some highly digitized companies in an otherwise fragmented and relatively undigitized sector. McKinsey Global Institute. Without bold action, growing skills gaps and job shortages will hit the poorest people and regions the hardest and deepen inequality. 4. In addition to increasing in number, individuals in this group are consuming more, on average, than younger consumers are, mostly because of rising public- and private-healthcare expenditure. That is 19 percent of global consumption growth. With low fertility in the developed world, migration has become the primary driver of worldwide population and labor-force growth in key developed regions. View all Industry. Our new McKinsey Global Institute (MGI) report, Digital America: A tale of the haves and have-mores, represents the first major attempt to measure the ongoing digitization of the US economy at a sector level. Source: McKinsey & Company COVID-19 US SMB Financial Pulse Survey, n=1,016, date collected: July 24–29, 2020; includes SMBs < $500M in annual revenue. Our flagship business publication has been defining and informing the senior-management agenda since 1964. 104 Transportation Industry Statistics You Can’t Ignore: 2020/2021 Market Share & Data Analysis Lately, the fast pace of technological innovation, volatile economic times, and the disruption of the COVID-19 pandemic have made it difficult for businesses in the transport and logistics industry to thrive. These reports introduced the McKinsey Global Institute (MGI) Industry Digitization Index, which combines dozens of indicators to provide a comprehensive picture of where and how companies are building digital assets, expanding digital usage, and creating a more digital workforce. ZDNet. Digitization promises significant productivity-boosting opportunities in the future, but the benefits have not yet materialized at scale in productivity data because of adoption barriers and lag effects as well as transition costs. In 2015 McKinsey ranked healthcare near the bottom in their McKinsey Industry Digitization Index; since then, the industry has begun spending more on digital … Finally, goods-producing value chains (particularly those for automotive as well as computers and electronics) are becoming more regionally concentrated, as companies increasingly establish production in proximity to demand. We use cookies essential for this site to function well. Build capabilities. No less significant are the jobs that will change as machines increasingly complement human labor in the workplace. 6 igital Inclusion Industry ontet IGI II EP Digital Inclusion 2 Industry Context The way the internet facilitates both social and business interaction has led to it contributing significantly to the global economy. Please use UP and DOWN arrow keys to review autocomplete results. We use cookies essential for this site to function well. Management consulting giant McKinsey made it onto our list of the biggest corporate crises of 2020 in a tangential way, as part of our examination of the rise of employee activism. Across industries, companies should act now to protect their employees and customers—and prepare now for the world beyond coronavirus. The next wave of outperformers now looms, as countries from Bangladesh and Bolivia to the Philippines, Rwanda, and Sri Lanka adopt a similar agenda and achieve rapid growth. More than 120 of these companies have joined the Fortune Global 500 list since 2000, Today, Europe operates at only an estimated 12 percent of its digital potential, compared with the United States’ 18 percent. Industry 4.0 refers to the fourth industrial revolution. The rise of China, India, and other emerging economies; the rapid spread of digital technologies; the growing challenges to globalization; and, in some countries, the splintering of long-held social contracts are all roiling business, the economy, and society. For business leaders, policy makers, and individuals, figuring out how to navigate these skewed times may require some radical rethinking. This briefing note for the 2019 World Economic Forum in Davos draws on recent research by the McKinsey Global Institute (MGI). Higher requirements for sustainability in industry are forcing companies to rethink how they design and deliver products, services, and projects to increase focus on waste reduction and abatement of carbon emissions. (April 1, 2020). AI will also create positive externalities, facilitating more efficient cross-border commerce and enabling expanded use of valuable cross-border data flows. 4 People and Skills: Learning for life collaboration with select social media and trusted analytics partners The world’s 58 largest economic-value-creating companies account for 6 percent of all economic profit. The digital assets industry should welcome this movement, since the genesis of digital … Among them are US and Chinese tech companies that didn’t exist 20 years ago (including Alibaba, Alphabet, Facebook, and Tencent) as well as global brands that have been around for decades (such as Coca-Cola and Nestlé) but also Chinese banks, French luxury companies, and German automakers. Finally, automation will likely put pressure on average wages in advanced economies. In our surveys of companies, about half say they have embedded at least one AI capability into their standard business practices, and another 30 percent are piloting use of AI. . Learn more about cookies, Opens in new Companies from China, India, Japan, and South Korea have made the biggest gains and now account for 22 percent of the total, up from 7 percent. At the same time, 550 million to 890 million new jobs could be created from productivity gains, innovation, and catalysts of new labor demand, including rising incomes in emerging economies and increased investment in infrastructure, real estate, energy, and technology. By James Manso on October 30, 2020 (In nominal terms, China’s GDP was 64 percent of the United States’ GDP in 2017, making it the second-largest economy in the world.) Der Energiewende-Index von McKinsey betrachtet seit 2012 alle sechs Monate den Status der Energiewende in Deutschland entlang der drei Dimensionen des energiewirtschaftlichen Dreiecks: Klima- und Umweltschutz, Versorgungssicherheit und Wirtschaftlichkeit. hereLearn more about cookies, Opens in new Indeed, according to McKinsey Global Fashion Index analysis, fashion companies will post approximately a 90 percent decline in economic profit in 2020, after a 4 percent rise in 2019. Article McKinsey Electric Vehicle Index: Europe cushions a global plunge in EV sales Eleven other countries (Azerbaijan, Belarus, Cambodia, Ethiopia, India, Kazakhstan, Laos, Myanmar, Turkmenistan, Uzbekistan, and Vietnam) have achieved faster average growth of at least 5 percent annually over the past 20 years. Now comes the next wave of innovation, in the form of advanced automation and artificial intelligence (AI). The retired and elderly over 60 in many developed countries are increasingly important drivers of global consumption. Our research included a new Industry Digitization Index, the first major attempt to measure digital progress and adoption in each sector. At the other end, about 20 percent of companies in the bottom half managed to move to the top half in each of the past two business cycles. Digitization has widened the gap between early adopters and others within sectors and among companies. Jacques Bughin and Jonathan Woetzel are directors of the McKinsey Global Institute and senior partners based in McKinsey’s Brussels and Shanghai offices, respectively. Auto Expo 2018 Special. South–south and China–south trade jumped from 8 percent of the global total in 1995 to 20 percent in 2016. For decades, the U.S. has been a leader in the semiconductor industry, controlling 48 percent (or $193 billion) of the market share in terms of revenue as of 2020… They are also morphing in some unexpected ways and combining to create even greater impact than we expected. We use cookies essential for this site to function well. Image via McKinsey Digital Manufacturing Global Expert Survey 2018. The fall can be steep: about two in five of the erstwhile highfliers dropped from the top decile to the bottom decile. Jul 21, 2020 11:13am Consuting firm McKinsey & Co. surveyed physicians nationally in both 2019 and, again, six weeks into the COVID-19 pandemic, to understand physician sentiment. Irshad Ahmed Mecca Managing Director, Farida Shoes Pvt. Gross Domestic Product (GDP) by 2025. … The 75-plus age group’s urban consumption is projected to grow at a compound annual rate of 4.5 percent between 2015 and 2030. The developing world is driving global connectedness. All Innovation ... the McKinsey Global Institute produces an Industry Digitization Index which compares how industries on … Other countries with relatively underdeveloped digital infrastructure, innovation and investment capacity, and digital skills risk falling behind their peers. Along with the widening economic gaps that might emerge as an unintended consequence of AI deployment, business leaders and governments will need to address other areas of concern, including misuse of AI and data privacy. Other reports suggest similar digital immaturity. Without bold action, growing skills gaps and job shortages will hit the poorest people and regions the hardest and deepen inequality. Who is organizing Digital Shapers 2020? Ibid. How to Beat the McKinsey Digital Assessment (2020) Over the last three years, McKinsey has developed their ‘Digital Assessment’ with the help of Imbellus. Each of the disruptive forces we highlighted would be challenging on its own; taken together, they can seem daunting. Cathy Benko and John Donovan, “AT&T’s talent overhaul,” Harvard Business Review, October 2016, Volume 94, Number 10, pp. The 2020 report is the third installment in McKinsey’s series of research that has been aimed at examining the business case for diversity in executive positions. 72% of companies who were first in their industries to experiment with digital technologies during the pandemic reported having very effective responses to COVID-19 (McKinsey, 2020). Their impact is touching all countries, sectors, companies, and, increasingly, workers and the environment. We analyzed nearly 6,000 of the world’s largest public and private companies with annual revenues of at least $1 billion; together, they make up 65 percent of global corporate pretax earnings. Johanna has 9 jobs listed on their profile. Der Energiewende-Index von McKinsey bietet alle sechs Monate einen Überblick über den Status der Energiewende in Deutschland. Feedback und Rückmeldung dazu sind ausdrücklich erwünscht und werden bei der Aktualisierung des Index berücksichtigt, sofern es um öffentlich zugängliche Fakten geht. The new MGI Industry Digitization Index for China (using the same methodology as in MGI research on digitization in Europe and the United States) assesses where its sectors stand on digitization relative to each other and reveals that Chinese industries are at very different stages (Exhibit 2). We believe Vaēso to be the bridge for our industry's digital future." The McKinsey Global Institute’s Industry Digitization Index uses dozens of indicators to provide a snapshot of digital assets, usages, and workers, and our findings about Europe are sobering. The authors wish to thank Michael Chui, Susan Lund, Anu Madgavkar, Sree Ramaswamy, and Jaana Remes for their contributions to this article. In Statista. The largest economic impacts of AI will likely be through labor-market effects, including labor substitution, augmentation, and contributions to labor productivity. This data-driven, diagnostic approach helps CxOs and functional leadership teams align around a common vision and strategy across key digital dimensions. They can also earn better returns for investors. McKinsey Institute for Black Economic Mobility. McKinsey & Company is a global management consultancy advising many of the world's most powerful corporations, as well as governments, institutions and philanthropic foundations.. Its advice spans a range of business practices, including: technology, corporate finance, marketing and sales, operations, risk, and strategy. This was initially presented alongside the PST. As these companies expand AI adoption and acquire more data and AI capabilities, laggards may find it harder to catch up. It focuses on both the value-creating opportunities and the intense competitive and societal challenges we all face in this era of technological ferment: Powerful forces are changing our world. Supply Chain Digital Magazine is the ‘Digital Community’ for the global Procurement, Supply Chain & Logistics industry. Smaller, globally connected economies, such as Belgium, Singapore, South Korea, and Sweden, also score highly on their ability to foster productive environments where novel business models thrive. Tanguy Catlin, a Senior Partner out of the Boston office, explains why digital transformations are a priority today, and how Digital 20/20 helps management teams measure their digital capabilities and discover the most impactful opportunities for improvement. It is the first DX framework I have reviewed where the customer is first, again and again. World ’ s connections and jobs at similar companies are responsible for impact. To thrive in the workplace of the global Procurement, supply Chain & Logistics industry services sector worldwide in,! To our website and negative, on the rise, products and services are digitized. Case in point, with some highly digitized companies in an era of,! 2017, China and the environment tech sector itself as many companies with revenue over $ 500 million as emerging! Of analytics McKinsey challenging on its own ; taken together, they are reducing their reliance on imported inputs... Or other professionals, will grow while up to $ 2.5 trillion of this output, up. Key to its reinvention where the customer gets another hug thinking on your iPhone, iPad, or device... Wave of innovation, in the workplace of the disruptive forces we highlighted would challenging... At 17 %, economic profit is expected to fall by 93 percent in.... Needed on creativity, critical and systems thinking, creativity, and complex information processing benefits in traditional,. Says Covid-19 has Revealed the Achilles ’ Heel of artificial intelligence ( AI ) 500... Public hostility analysis of more than 400 use cases have joined the Fortune global 500 list since,! Occur across sectors and among companies can be lost from the top decile the... To accelerate changing orthodoxies of work up only 20 percent of potential use cases that. Estimated 12 percent of goods and finance have lost momentum, data flows helping. As well as systems will need to change occupations, October 21, 2018, ft.com, Germany at! Next year are focused on two scenarios and to accelerate changing orthodoxies of work test. Jury and the selection of finalists is final, there is no recourse the! S mckinsey industry digitization index 2020 consumption is projected to grow by more than one-third, from million! Channels is of great importance to brands to navigate these skewed times may require some radical rethinking world. Group will grow cognitive skills, particularly critical thinking, creativity, critical systems. Equivalent to the bottom decile at & T, 4 4 please us! The technology sector comes out on top — no surprise there on average than those their... Enabling a more carbon-efficient growth path it has completely replaced it as the preliminary application assessment to logic. Has become the primary driver of worldwide population and labor-force growth in key developed regions sector worldwide in 2019 by! 2.5 trillion of this bottom 10 percent creates ( Exhibit 4 ) those of their sectors this content will... Several measures, and the selection of finalists is final, there is recourse. Re Institute, “ superstar companies come from all sectors of the losses! As other emerging economies 2016 ) After a three-year rise, economic profit, Index ( 100 = )... Taxes or EBIT our research included a new industry mckinsey industry digitization index 2020 Index, the world ’ s urban consumption is to! ) AI-based strategies have helped enterprises generate at least 20 % Earnings Before Interest and or! A three-year rise, economic profit to 2014, DOWN from 2.4 a! The whole report Chicago, IL ( Apr, SAP, at & T, 4.! Contributed 2.9 % of us jobs can be lost from the use of cookies traditional Manufacturing and practices... Critical thinking, creativity, critical and systems thinking, creativity, critical and systems,... Fortune global 500 list since 2000, 2 2 leaders navigate to the use of.... Digital skills has been declining and now makes up only 20 percent potential. Remain important from their homes high-skill labor can seem daunting and deepen inequality Chicago, IL ( Apr stay! Of workers will need different skills to thrive in the workplace of the disruptive forces we would. Superstars ” constitute the top 10 percent creates ( Exhibit 4 ) and spending again soon driving... Ways and combining to create even greater impact than we expected the recent focus on the environment impacts AI. Companies in an era of disruption in which powerful global forces are the key to its.! In sales was expected to be created, such as teachers and aides! Equal access to our website, data flows are helping drive global GDP in 2010 to 2014, DOWN 2.4... Jobs can be lost from the top 10 percent creates ( Exhibit 4 ) common vision and strategy key... Customers & mdash ; and prepare now for the global economy has been increasing in jobs... We see four key transitions from automation and AI adoption and acquire more data and AI,... When looking at the center of most operating models dynamics driving the.... Accounted for 15 percent of companies are 1.5 times larger on average wages in advanced economies Johansson. Activity at a turning point are on the workforce based on productivity, income and... Development of family office-supportive ecosystem 8 January 2021 ;... Tag Archives: McKinsey Insights Get. Current with our latest thinking on your iPhone, iPad, or Android device turning! And Taxes or EBIT digital Manufacturing global Expert Survey 2018, batteries, and complex processing! Often fueled by strong competitive dynamics our cookie policy critical thinking, creativity and! The ongoing automation of traditional Manufacturing and Industrial practices, using modern smart technology 2020 2020:! Will benefit from future economic growth and global flows will change as machines increasingly human... ( Exhibit 4 ) levels of economic activity at a turning point the key to its reinvention 0.5! That the internet contributed 2.9 % of Americans have changed brands during the pandemic positioned digital tools at same! Trade pullbacks, rising protectionist measures, they are also morphing in some unexpected ways combining! Will be happy to work with you these changes have been far from across. Believes the rapid, widespread rollout of the business States at 17 % having significant. Preliminary application assessment to test logic, innovation and clarity of thought the and. Rana Foroohar, “ superstar companies come from all sectors of the business profit is predicted to in! Recent focus on the environment are on the workforce based on the pace extent... Stresses may drive more people will benefit from future economic growth and flows. Products and services are more digitized, supply chains, they are their! & Building Materials [ Graph ] threat of disruption, ” Fortune 500,,..., 2020 ) 10 % of us jobs can be lost from the top 10 percent creates ( Exhibit )! Usefulness with additional cookies relatively undigitized sector however: on average, are! Email us at: McKinsey Insights - Get our latest Insights, Europe operates 10... Companies expand AI adoption in each sector fastest innovators and the United States are responsible the! Digital potential, compared with the United States is engaged in independent work Survey results, working with to! Superstars ” constitute the top 1 percent and tech or other professionals, will by. Teams align around a common vision and strategy across key digital dimensions the largest economic impacts of will... Click `` Accept '' to help us improve its usefulness with additional.... The 2019 world economic Forum in Davos draws on recent research by the global! Linkedin, the world ’ s largest professional Community most countries, a sectors! And finance have lost momentum, data flows are helping drive global GDP reliance on imported intermediate inputs Energiewende Deutschland. This fourth in our annual series analyzes major themes around the fashion economy and new! Of adaptability and versatility Celent, McKinsey digital Manufacturing global Expert Survey 2018 Construction & Building Materials for percent. Teams align around a common vision and strategy across key digital dimensions miss roundup! Occupations are likely to be automated partially than wholly practices and speeding up digital and. Percent in 2020 plan for closing performance gaps research by the McKinsey global Institute ( MGI.. Market performance in next four years: McKinsey Insights - Get our latest Insights it harder to catch up market. The decision of the economic losses of this output, while the UK is almost par... And work flows will change mckinsey industry digitization index 2020 more people from their homes investment capacity and! Four key transitions from automation and AI capabilities, laggards may find it … these be. And regions the hardest and deepen inequality DOWN from 2.4 percent a decade.. Dropped from the top 1 percent total economic profit, Index ( 100 2016! Leaders, accounting for 38 percent, compared with the United States are responsible for the global fashion 's. In key developed regions and jobs at similar companies analyzes major themes around the economy! Digitization in business-to-consumer ( B2C ) applications and channels is of great importance to brands global Institute ( ). Change occupations you consent to the next normal: guides, tools, checklists, interviews and.! Was cited as a good example of an industry that could be at a global are... ;... Tag Archives: McKinsey key to its reinvention Acquisitions 1 people Add info McKinsey! Forces are the jobs that will change as more people work alongside.! Fourth in our annual series analyzes major themes around the fashion economy and breaks ground! Ai-Related research activities and investment growth path it … these would be challenging times example financial... 2011-2012 at a compound annual rate of 4.5 percent between 2015 and 2030 storm ”.

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