Month: July 2017

Preparing for Disruption

Report from the McKinsey Technical Institute Automation’s challenge for policy makers, business leaders, and workers everywhere is a formidable one: how to capture the positive effect on the global economy, at the same time as navigating what is likely to be a complicated period ahead, one with potentially epochal social, economic, and employment repercussions. At a time of sluggish GDP growth and weak productivity gains—and when demographic trends are starting to work against growth in a broad range of countries—automation could serve as an unforeseen boon to the world economy. Yet anxieties about lost jobs and reduced incomes are...

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AN ENGINE OF PRODUCTIVITY

Report from the McKinsey Technical Institute The world is in need of a new engine of GDP growth. Shifting demographics in many countries brought on by aging populations and declining birthrates are reducing the share of working-age populations and creating an economic growth gap: in the not-so-distant future, without an acceleration in productivity growth, there will not be enough workers for countries to meet their aspirations for growth in GDP per capita. In this context, automation could be a significant opportunity. Our estimates suggest it could help serve as a new productivity engine for the global economy, bridging that...

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FACTORS AFFECTING THE PACE AND EXTENT OF AUTOMATION

Report from the McKinsey Technical Institute Automation will be a global force, affecting all countries, all sectors, all jobs, and all work activities. Already today, machines and algorithms are playing a much larger role in the workplace, but how soon will it be before we all feel the impact of automation technologies? Could machines really carry out much or most of the work humans do today—and if so, by when? In this chapter, we describe factors that can affect the pace and extent to which automation is adopted in the global economy. We also present the results of a...

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Five Case Studies

Report from the McKinsey Technical Institute Our analysis of automation potential inevitably raises questions about the practical effect on workplaces and on the people who work in them. What exactly will change, and how? To develop a vision of automation as it could be applied in the workplace, we have created hypothetical case studies across different industries that suggest how automation could affect specific processes. In this chapter, we outline five of these cases by way of example. The five are from highly varied sectors and involve a broad range of activities across various industry sectors and physical settings:...

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