Topics How to Maximize the Business Value of Generative AI The promise of generative AI is value — higher revenue, streamlined efficiencies, and more innovative decision-making. Achieving this value isn’t easy. Maximizing it is even harder. This MIT SMR Executive Guide offers expert insights into the strategies needed to get the most out of GenAI. Brought to you by: More in this series Neil Webb Less than two years ago,…
Quick Hits The Fourth Bureaucracy Reduction Act, effective January 1, 2025, simplifies requirements for giving written evidence of employment contracts, allowing now digital agreements for open-ended contracts while maintaining written form for fixed-term contracts. The EU’s AI Act, effective from August 2024, introduces regulations on AI systems, with initial provisions on unauthorized AI use starting February 2, 2025, and further regulations on general-purpose AI models and sanctions taking effect on…
Introduction The Liberal government’s Fall Economic Statement arrived last month in the midst of an increasingly uncertain political landscape. Among its many offerings, in the trade sphere, the Statement presents a commitment to use the full range of Canada’s “toolkit” to protect its economic security against unfair conduct from trading partners and to promote reciprocity across Canada’s trading partnerships. This represents a departure from Canada’s traditional approach to international trade…
Economic uncertainty is on the rise due to widespread geopolitical changes. While global growth remains mostly stable for now, businesses and investors are closely monitoring these developments for potential disruptions to the economic landscape (Exhibit 1). With President Trump taking office in January, businesses and analysts are seeking clarity on what his second term might bring in terms of economic policies. The US Federal Reserve and other leading central banks…
Young people are already adopting new ways of interacting with AI, and without a solid framework for collaboration between stakeholders, evidence-based policy on AI will lag behind, as it did for social media. Dr. Karen Mansfield, postdoctoral researcher at OIIIn a new paper published in The Lancet Child and Adolescent Health, the research team calls for a critical re-evaluation of how researchers study the impact of internet-based technologies on youth mental health, and outlines…
Enzymes are crucial to life. They are nature’s little catalysts. In the gut, they help us digest food. They can enhance perfumes or get laundry cleaner with less energy. Enzymes also make potent drugs to treat disease. Scientists naturally are eager to create new enzymes. They imagine them doing everything from drawing greenhouse gases out of the skies to degrading harmful toxins in the environment.That age-old quest for new enzymes…
The world is dramatically ill from another point of view, the famines caused by climate change especially in areas affected by water shortages. Agriculture is a victim of these changes, which lead to hunger for millions of families. This drama is aggravated by the fact that it occurs in many cases in countries already previously afflicted by severe poverty. The limit of the Green Deal in the forms developed in…
Quick Hits The New Jersey Division on Civil Rights (DCR) issued guidance that explains how an employer’s use of automated decision-making tools can lead to algorithmic discrimination that violates the New Jersey Law Against Discrimination (NJLAD). The guidance does not impose any new obligations on employers but reinforces the importance of NJLAD compliance and instructs that the NJLAD “draws no distinctions based on the mechanism of discrimination.” Given the increasing…
Following an initial round of consultation held during the summer of 2024, the Competition Bureau (the Bureau) has published its proposed guidelines (the Proposed Guidelines) concerning environmental claims. The Bureau has launched a public consultation to solicit feedback from Canadians on the Proposed Guidelines – the deadline is February 28, 2025. The Proposed Guidelines respond to recent amendments to the Competition Act, which added new explicit provisions targeting misleading environmental benefits claims (greenwashing). Visit…
In this month’s research picks, INSEAD faculty offer insights on improving asset pricing models and sales forecasting models, as well as how the extent of differences among banks affects financial stability. On the organisational front, they examine how artificial intelligence (AI) could impact strategic decision-making processes in firms and ways to prevent relational overload in organisations where employees can easily access colleagues and information. 1. The effects of bank heterogeneity on…
After agreeing to turn himself in to avoid “bloodshed”, the president was remanded in custody for 48 hours – a first in South Korean political history, and is still detiained. Tension has ratcheted up between two broad groupings: on the one hand, a presidential security service determined to protect Yoon at all costs, together with Yoon’s supporters, who see him as a hero who has fallen victim to North Korean…
The Cancer Data-Driven Detection programme will be led by Antonis Antoniou, Professor of Cancer Risk Prediction at the University of Cambridge. It is funded by Cancer Research UK, the National Institute for Health and Care Research, and the Engineering and Physical Sciences Research Council.The programme aims to access and link data from different sources - including health records, genomics, family history, demographics, and behavioural data - to develop statistical models…
Topics Column Our expert columnists offer opinion and analysis on important issues facing modern businesses and managers. More in this series subscribe-icon Subscribe Share Carolyn Geason-Beissel/MIT SMR | Getty Images Let me ask you some questions to get this discussion started. In the past week or two at work, did you see anyone: Tell someone that their thoughts or feelings are stupid? Insult others in public meetings to humiliate or…
Investors use estimates of a stock’s future price, set by finance industry analysts, as one tool to assess the asset’s value in coming months and decide whether to buy or sell. At first blush, very high “consensus” analyst target prices—that is, the average of financial analysts’ individual target prices—may look appealing to investors and tempt them to buy. But hidden in the widely available numbers is a cautionary tale, according…
The study, led by researchers from the universities of Cambridge and Exeter, identified several drugs already licensed and in use that have the potential to be repurposed to treat dementia.Dementia is a leading cause of death in the UK and can lead to profound distress in the individual and among those caring for them. It has been estimated to have a worldwide economic cost in excess of US$1 trillion dollars.…
A fundamental shift is occurring in digital asset markets, evident in the relentless rise of bitcoin and crypto ETFs as well as the proliferation of meme coins, most recently $TRUMP, backed by the new US President himself. The appointment of Paul Atkins, known for favouring market-driven solutions over heavy-handed enforcement, as Chair of the Securities and Exchange Commission (SEC), has fuelled optimism that crypto can finally balance innovation with regulation.But…
Closing the women’s health gap: A $1 trillion opportunity to improve lives and economies, published in 2024 by the World Economic Forum (the Forum) in collaboration with the McKinsey Health Institute (MHI), reported that the women’s health gap correlates with women living in poor health for 25 percent more of their lives than men do. Closing the women’s health gap could yield 75 million disability-adjusted life years annually—the equivalent of…
China will not actively provoke Trump 2.0, but if Trump 2.0 continues to use trade wars, technology wars, or other containment strategies to counter China, China will definitely retaliate with more experienced and precise countermeasures. The ultimate result will remain the same: China will become stronger, writes Wang Wen, Executive Dean and Professor of Chongyang Institute for Financial Studies (RDCY), Renmin University of China. Trump’s return is not a bad…
Growing the U.S. economy is at the top of President-elect Donald Trump’s agenda, and tackling the many challenges in the U.S.-Chinese trade and investment relationship will be central to realizing this objective. Much of Trump’s rhetoric has focused on the use of tariffs: tariffs to rebalance the bilateral trade deficit, tariffs to incentivize U.S. multinational firms to reshore their supply chains and reduce their reliance on Chinese manufacturing, and tariffs…
Carolyn Geason-Beissel/MIT SMR | Getty Images “One conversation in the room, please.” We’ve all heard, or said, something like this during in-person meetings. Hushing side discussions helps reinforce the best parts of face-to-face meetings: the opportunity to be attentive, be aware of eye contact and body language, and focus everyone on a single topic. “One conversation” reminders work for in-person gatherings, but virtual meetings bring a new set of challenges.…
Start-ups: innovation-driven venturesThe traditional start-up model typically emphasises disruptive innovation and rapid scaling, often requiring significant technological advantage and financial capital in its initial phases. It appeals to founders driven by a mission to revolutionise industries and solve problems in the market. To succeed, founders must not only develop a compelling solution but also convince investors – and eventually customers. Creativity, innovation and product-market fit are crucial. Start-ups are inherently high-risk ventures. They…
Separations have become a widely adopted strategy for creating value, but their popularity does not mean these complex transactions are always effective. For instance, spin-offs—one of the main types of corporate separations, alongside divestitures and carveouts—have hit record numbers in recent years, but these deals are not guaranteed to create value for both the remaining and new businesses. Through our decades of research and experience supporting organizations in a range of…
20 January 2025By Luis de Guindos, Vice-President of the ECB, and Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECBStress tests are of crucial importance to assess banks’ resilience under adverse economic conditions. In previous stress tests, however, some banks submitted overly optimistic projections. Despite thorough quality assurance by supervisors, this behaviour makes it more likely that the risks some…
The Russian-Indian Conference of the Valdai Discussion Club, organized in partnership with the Vivekananda International Foundation, will be held in Moscow from January 27, 2025 at 16/1 Tsvetnoy Boulevard in Moscow. The Vivekananda International Foundation and the Valdai Discussion Club are long-standing partners. The Memorandum of Understanding signed at the 20th Annual Meeting of the Valdai Club in 2023 brought expert cooperation between the two countries to a new level…
With global business corridors subject to geopolitical shifts and structural realignment, Asia’s companies stand at a new crossroads—where old formulas for success are stalling, and new highways to growth are emerging. Long-established global trade and investment patterns are reconfiguring in response to geopolitical tensions, a “just in case” rather than a “just in time” mindset, and increasing sophistication in Asia’s skills and capabilities. Companies operating in Asia—local, regional, and multinational—have…
Navigating the Risks of Artificial Intelligence: A Strategic Approach Businesses feel compelled to experiment with AI because of the perceived benefits it offers in terms of efficiency, innovation, customer experience, and competitive advantage. They are told that by integrating AI into their operations, they can unlock new opportunities, streamline processes, and stay ahead in a rapidly evolving technological landscape. Nevertheless, businesses may be sceptical about adopting AI for several reasons.…
The FCA’s Artificial Intelligence (“AI”) update [1] shows the FCA’s approach to ensure safe and responsible use of AI within UK financial markets. Firms which operate in the financial services sector and use AI in their business should evaluate and understand the FCA’s approach and guidelines to avoid negative consequences. Here are some of the key points from the FCA’s update and the implications for your business. AI Regulation There…
Over the past two years, interest in value chain optimization (VCO) has grown as downstream refining businesses come up against volatile market conditions, an emergence of “pure play” portfolios, and technological change. However, many organizations do not take a holistic approach when assessing their value chain; instead they look at each process in a piecemeal fashion, adding cost and inefficiency. VCO, also known in refining organizations as supply chain planning…
The world is faced with a dual imperative in the energy transition: the energy system has to be decarbonized, but much more energy is going to be needed in the future. In this episode, Janet Bush, executive editor at McKinsey Global Institute (MGI), talks to McKinsey experts Chris Bradley and Vishal Agarwal about the hurdles that need to be cleared, particularly in Asia, to achieve decarbonization.An edited transcript of the…
Quick Hits The NLRB GC issued a memorandum addressing potential employer concerns about complying with EEO laws prohibiting discrimination and harassment in the workplace and the NLRA’s protections for employees engaging in concerted activity. The memorandum emphasizes the GC’s view that the NLRA and EEO laws are complementary and “both can and should be given full effect.” The memorandum was issued just days before a changeover in the presidential administration,…
Technology is increasingly shaping the prosperity and sovereignty of nations. The development of disruptive technologies such as AI, along with geopolitical events, is creating new arenas of competition, centered on investment in the innovation, production, and adoption of advanced technologies. However, large European corporations invested €700 billion a year—or €3,000 per capita—less than their US counterparts between 2015 and 2022, particularly in technology, as returns on invested capital (ROIC) for…
Could a student-run pub add a new dimension to campus social life? A group of Stanford students tested this idea with a pop-up pub last month, and the result was a resounding “yes.” The Rough Draught Pub – which was run by students and supported by staff and the Associated Students of Stanford University (ASSU) – hosted over 550 people over two nights. Attendees said the pub, which was held at…
Maximising value through digital transformation in beauty companies. Innovation is the key to sustained growth in the beauty industry. As consumer expectations evolve and market environments become more dynamic, the ability to innovate quickly and effectively has never been more crucial. At Skarbek, we understand the need for companies to enhance their innovation capabilities, which is why we have developed the Innovation Fitness Index (IFI), a comprehensive diagnostic tool…
Quick Hits On January 14, 2025, the DOL issued an opinion letter reiterating that managers and supervisors cannot keep tips unless they “solely and directly” provide service to the customer, regardless of whether a tip credit is taken. The DOL clarified that even if a manager or supervisor works an entire shift in a nonsupervisory role, they cannot participate in a tip pool, as the primary duty test is based…
Daniel Yergin explained the state of the world in his 1990 Pulitzer Prize–winning book, The Prize: The Epic Quest for Oil, Money and Power. He did it again in 1998 with Commanding Heights: The Battle for the World Economy and in 2011 with The Quest: Energy, Security, and the Remaking of the Modern World. His most recent book, The New Map: Energy, Climate, and the Clash of Nations, detailed how…
Against a backdrop of light blue, three fluffy white clouds release a robust rain of blue pixels. Software as a service (SaaS) refers to cloud-based software programs delivered to users over the internet. You probably use SaaS products even if you don’t realize it; in fact, much of our online lives are supported by SaaS. Google Workspace tools—including Gmail, Google Docs, and more—are SaaS products, as are Microsoft Outlook, Slack, Zoom,…
Quick Hits Maryland’s Family and Medical Leave Insurance (FAMLI) program provides most Maryland employees with up to twelve weeks of paid leave, with some eligible for an additional twelve weeks, starting July 1, 2026, funded by contributions from both employers and employees beginning July 1, 2025. The Maryland Department of Labor has released two sets of proposed regulations for the FAMLI program. Under the FAMLI program, employees in Maryland will…
This commentary originally appeared in Time. With Elon Musk, Mark Zuckerberg, and Jeff Bezos joining the CEO of TikTok as guests of President-elect Donald Trump at Monday’s Inauguration, many have noticed how differently some tech titans are greeting the second Trump presidency. This follows the many CEOs racing to Mar-a-Lago to dine with Trump, contributing to a narrative that has emerged that “corporate America is going MAGA,” and that “Trump’s…
In 2025, corporate action on nature has evolved from what was often seen as an environmental obligation into a strategic necessity. Taking action is not just about preserving our natural resources—it is a key element of business strategy. Nature plays a critical role as a foundation for the global economy, with more than half the world’s GDP dependent on nature. In this way, nature degradation—including biodiversity loss, ecosystem collapse, and…
Students with intellectual and developmental disabilities (IDD) such as autism and Down syndrome are often left behind when it comes to literacy instruction – casualties of the misperception that at best, they could only read by learning to recognize common words by sight. But researchers are finding that students with IDD, like their peers without disabilities, can benefit from a more complex approach, including phonics, vocabulary, and reading comprehension. “I always…