Digital transformation on the CEO agenda

In this episode of The McKinsey Podcast, Kate Smaje and Rodney Zemmel—global leaders of McKinsey Digital—talk with McKinsey Global Publishing’s Lucia Rahilly about digital transformation: what it really means, how to deliver on it, and why it should remain front and center on the CEO agenda. Plus, stay tuned for Kate’s and Rodney’s quick takes on trends to watch.

After, in an Author Talks excerpt, Amy Webb, futurist and author of The Genesis Machine: Our Quest to Rewrite Life in the Age of Synthetic Biology (Hachette Book Group, February 2022), describes how synthetic biology could open the door to “bespoke children,” significantly longer life spans, and subterranean societies.

The McKinsey Podcast is cohosted by Roberta Fusaro and Lucia Rahilly.


Digital transformations are a long game

Lucia Rahilly: The phrase “digital transformation” has been part of our business lexicon for many years now. And at this juncture, most companies have, presumably, invested a relatively substantial volume of resources in digital and tech. Have leaders made any meaningful progress in reinventing themselves digitally? Or is successful digital transformation still elusive?

Rodney Zemmel: It’s become fashionable to say that many digital transformations fail, that it’s hard to get value out of them, and so on. I think that’s created an impression that digital transformation is elusive. The reality is, most big companies have undertaken a digital transformation, and most big companies get some value from that digital transformation.

The point of digital transformation isn’t to become digital. It’s actually to generate value for the business. And having a clear, integrated, top-down road map of where that value is is one of the biggest gaps between companies that get the full value and companies that get something that is just a shadow approximation of

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Crypto Regulation on G-7 Finance Heads’ Agenda

Crypto asset regulation will be a subject matter of communicate among the Team of 7, according to French central lender head Francois Villeroy de Galhau, Reuters noted Tuesday (Could 17).

The finance chiefs are set to meet up with this week in Germany. Talking at an rising markets convention, Villeroy mentioned the current crypto turbulence in the markets proved that there was a have to have for regulation.

“What took place in the current previous is a wake-up connect with for the urgent need for worldwide regulation,” Villeroy said.

In addition, he stated Europe’s Marketplaces in Crypto-Belongings (MiCA) regulatory framework had been something they could develop off of. He additional that they would examine that, alongside with other concerns, at the G-7 meeting.

Phone calls for crypto regulation are not new. For example, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler explained crypto property are “highly speculative” and traders need to have additional protections ahead of they get rid of rely on in the marketplaces.

See also: US SEC Chair Phone calls for More Disclosure on Crypto

Gensler stated those people not getting crypto really do not get the disclosures that occur with asset purchases of other kinds, including issues like regardless of whether buying and selling platforms are investing against them, or if they possess the property stored in the electronic wallets.

According to him, there exists a “basic bargain” in which the public can make selections about dangers, though there is supposed to be disclosure and honesty in all of it. He claimed the SEC would be a little something like a “cop on the beat” in terms of implementing rules on crypto, this sort of as anti-fraud actions, anti-manipulation and creating absolutely sure a true order e-book exists.

Gensler included that crypto markets aren’t genuinely decentralized,

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