Here’s what’s in the digital-transformation tool kits of companies that manage risk best
As companies go digital, they create new risks, such as loopholes that hackers can exploit. Companies that have already built sophisticated risk-management teams are applying their resources to find and mitigate them.
To read the article, see “Derisking digital and analytics transformations,” January 5, 2021.
Hope on the horizon for people with serious, often rare, diseases
Cell and gene therapies offer treatment, and sometimes cures, for patients with serious, often rare, and never-before-addressed diseases. And many more have become available in recent years—more than 75 launched worldwide in 2019, and 96 new ones were on track for the end of 2020.
To read the article, see “A call to action: Opportunities and challenges for CGTs in Europe,” January 19, 2021.
Purpose before profits? Employees say ‘yes, please’
In a recent McKinsey survey of more than 1200 managers and frontline employees at US companies, only 42 % felt their organisations’ purpose statements made a real difference. Seventy-two percent felt that purpose should come before profits.
To read the article, see “Purpose: Shifting from why to how,” April 22, 2020.
The old one-two: Banks could lose USD 3.7 trillion in revenue over five years
The COVID-19 crisis will present a two-stage problem for banks. First will come severe credit losses, likely through late 2021. Then, amid a muted global recovery, banks will face a profound challenge to ongoing operations that may persist through 2024, or beyond. In our base-case scenario, $3.7 trillion of revenue will be forgone over five years.
To read the report, see “McKinsey’s Global Banking Annual Review,” December 9, 2020.