McKinsey Global Institute Research Articles

Revolutionizing Healthcare with Smarter AI: In-depth Exploration of Advancements, Challenges, and Future Directions

Artificial intelligence (AI) is the main branch of computer science that permits advanced machines to interpret and analyze complex healthcare data elaborating the recent challenges in the medical field of study. The current state of AI applications in healthcare is examined in this systematic literature review, with an emphasis on the technology's accomplishments, difficulties, and potential. The wide breadth of AI technologies used in healthcare settings, such as robots, computer vision, machine learning, and natural language processing, is highlighted in this review through an extensive analysis of peer-reviewed publications. It talks about how customized medicine, predictive analytics, illness detection, and treatment planning are just a few of the areas of healthcare delivery that AI-driven technologies are transforming. According to research by investment bank Goldman Sachs, 300 million full-time employees could be replaced by artificial intelligence (AI). In the US and Europe, it might replace 25% of labor duties, but it might also lead to an increase in productivity and the creation of new jobs. Additionally, it might eventually result in a 7% rise in the global annual value of products and services produced. Additionally, the paper projects that approximately 25% of all employment might be performed totally by AI and that two-thirds of jobs in the U.S. and Europe "are exposed to some degree of AI automation. "The most likely groups to be impacted by workforce automation are educated white-collar workers making up to $80,000 annually, according to research from OpenAI and the University of Pennsylvania. According to a McKinsey Global Institute study, developments in digitalization, robots, and artificial intelligence may require at least 14% of workers worldwide to change jobs by 2030.

The impact of artificial intelligence on the labor market in the world and particularly in Ukraine

Introduction. In the contemporary context of global environmental, economic, and epidemiological challenges, the study of artificial intelligence (AI) and its impact on the labor market is crucial. The purpose of this paper is to study the impact of artificial intelligence on the labor market in the world and particularly in Ukraine. The results of the research highlight a global trend of job displacement due to technological advancements, particularly in robotics and AI. The study defines AI and highlights its potential in tasks requiring human intelligence. A McKinsey Global Institute study suggests up to 300 million jobs could be lost globally by 2030, emphasizing concerns about employment stability. The paper explores industry-specific data, identifying high-risk areas like routine tasks for automation and less susceptible roles requiring creativity. The impact on the labor market is nuanced, with most jobs only partially automated, offering opportunities for complementation. Positive aspects of AI, such as creating new employment opportunities and enhancing worker safety, are underscored. Governments and businesses are urged to proactively retrain workers at risk of automation. The potential for job reduction in Ukraine is discussed, emphasizing the need for education reform. Conclusion. The multifaceted impact of AI on employment necessitates careful planning and consideration. For Ukraine, the focus should be on creating competitive AI specialists through specialized education, international collaboration, and skills development, enabling the country to navigate the evolving global environment.

Developing a new procurement model, using behavioural economics, to enable continuous improvement of productivity and better value in large UK infrastructure projects.

Global construction has been blighted by productivity inertia caused by behavioural bias for decades. While other industry sector productivity has grown more than fifteen-fold since 1960, construction has stagnated with no more than a seven to ten percent overall growth. McKinsey Global Institute’s report Reinventing Construction: A Route to Higher Productivity, reported infrastructure construction amongst a small group of outperforming market sub-sectors at 15 to 20 percent. This paper, which charts the development of a unique procurement model designed for high productivity, builds on that performance using behavioural insights to counter damaging and habitual biases. The new model changes trading relationships using a nudged ‘opt-out’ contract structure creating a different responsibility dynamic between client and supplier. A recognisable but different infrastructure construction procurement model to improve productivity using recognised behavioural economics and construction economics. Highways England was set up to run England’s strategic road network in 2015. The procurement model that resulted, Regional Delivery Partnerships can be refined for any infrastructure sector construction environment and sets up a key step forward in contracting based on integrated project delivery. Using a combination of counter bias strategies built from loss aversion and nudge theory this new construction procurement model uses ‘opt-out’ from lean construction to drive higher productivity. By setting up an integrator, to create an integrated project team, Regional Delivery Partnerships uses loss aversion as the motivational key to better innovation. It empowers the integrator to counter uniqueness bias and find and eradicate waste (process time and money) to enhance productivity. Reward is aligned to both optimised efficient design and high productivity working. As 100% of budget underspend can be kept rewarding the integrator, the potential of not achieving this triggers loss aversion and motivates change using the principles of escalation of commitment in favour of the client. Performance data is also used to motivate using reduced acquisition costs from secondary competition, long held as an inefficient market overhead.Using recognised pragmatic academic techniques, and constructionism; choice architectures were remodelled into a new outcome and value focused procurement model. Using applied research, the team used processes and techniques to develop, build, test, and deploy the model in open market competition. It can be used by any infrastructure sector construction client to replicate a sector specific version of Regional Delivery Partnerships that changes trading choice architecture towards higher productivity.

The Smart City as Policy Concept in the Arab World: A Critical Research into the Strategic Visions of Urban Development in Abu Dhabi

This article reviews the smart city as a policy concept in Abu Dhabi. It conceptualizes smart city development goals into urban and extra-urban and review smart city development programmes in terms of ex-post and ex-ante. Extra-urban refers to development goals that go beyond the spatial or conceptual boundaries of the city. This will help to demonstrate how the pursuit of extra-urban may compromise the attainment of urban development goals. The paper uses Abu Dhabi as the frontline city in the Middle East and North Africa (MENA) region in the race to attain the smart city status, having led consistently in the McKinsey Global Institute poll of 2018 and the global indexing exercises conducted by the International Institute for Management Development and Singapore University of Technology and Design in 2020 and 2021. The study has used qualitative document analysis method to review policy documents regarding the smartification initiatives in Abu Dhabi. The analysis reveals that ex-post programmes are more urban dweller oriented or urban centred with programmes involving the digitization of government services and free Wi-Fi connectivity in public transport, while ex-ante smartification programmes (as seen in the development of Masdar city) tend to be extra-urban, elitist and global in nature but do not take into account social sustainability.

A Co-Occurrence Scrutiny of Transformational Leadership, Employee Engagement, Well-Being and Burnout via a Bibliometric Analysis

Abstract In the context of the COVID-19 pandemic, employees anticipate that their leaders will demonstrate greater empathy for the unexpected issues in the workplace. According to recent studies, the present and future require leadership to reimagine human resources leadership and the entire employee experience by focusing on people, cooperation, tight communication, and reestablishing connection and trust. In their 2021 report on the future of work after Covid-19, McKinsey Global Institute notes that hybrid remote work could continue to address the fact that 20 to 25 percent of workers in advanced economies and around 10 percent in emerging economies could work from home three to five days a week, primarily in computer-based office work, including offices of all sizes and corporate headquarters. In this light, the purpose of this research to provide an overview of the relationships between the leadership style, employee engagement, as well as their wellbeing versus burnout. The paper intends to propose a bibliographic analysis of the scientific articles simultaneously tackling the main envisaged constructs, respectively leadership, engagement, well-being and burnout. Given the fact that the inclusion of the Covid-19 pandemic would have narrowed down too much the analysis, the term was not considered in the searches. The bibliometric analysis was performed by means of VOSviewer.

E-commerce Policy and the Global Economy: A Path to More Inclusive Development?

The advancement of digitalization is gradually transforming the existing structure of the global economy. According to the McKinsey Global Institute, almost all cross-border transactions had a digital component in 2016. This is also reflected by the growing literature on digitalization and E-commerce. Yet, studies specifically focusing on E-commerce policy are scarce compared with other areas in this domain. By going beyond academic articles and including policy documents in our analysis, this study takes stock of the issues as well as the policy recommendations identified in these publications. Our analysis reveals that to promote an inclusive E-commerce participation, it is imperative to design policies that improve countries’ formal institutions, facilitate the inclusion of less-developed countries in the E-commerce space, and enhance E-commerce adoption by small- and medium-sized enterprises. We highlight the significance of collaboration between and solidarity among governments and other stakeholders.

Industry 4.0 and industry 5.0: can clusters deal with the challenges? (A systemic approach)

PurposeThe purpose of this conceptual paper is to substantiate the idea that clusters will cope with the challenges of Industry 4.0, Industry 5.0 and remain one of the drivers for the development of the local economy.Design/methodology/approachFor the preparation of this paper, the author reviewed the literature on Cluster 4.0, Industry 4.0, Industry 5.0, green and blue recovery, as well as the future of jobs and systems. Data, reports and surveys (UN, OECD, World Economic Forum, McKinsey Global Institute, D2L, etc.) were analysed in detail, in order to create a clear picture related to the research topic. The opinions expressed in the article are depicted graphically, and were developed by the author.FindingsFirst, predictions on Industry 4.0 challenges are outlined, and the reasons as to why clusters are expected to succeed in the digital era are substantiated; second, the direction of development in the digital era is depicted in a two-dimensional plane; and third, the direction of development in digital era within the clusters is graphically presented as a system.Originality/valueFor this purpose, the author has developed a new approach to connect clusters and digitalisation with the self-designed graphical images.

Healthcare Analytics: Applications and Challenges

Present day decision making in healthcare has become a data-intensive process leading to the rise of healthcareanalytics. These analytics involve the integration and analysis of data collected from multiple heterogenoussources including biomedical data (electronic health records), experimental (R&D) data, patient lifestyle andbehavior data (store records, social media, wearable electronic devices etc) and financial data. Healthcareanalytics is further being transformed by the application of current - omics technologies (genomics,epigenomics, transcriptomics, proteomics, metabolomics, pharmacogenomics etc), shifting healthcare to asystem that is “predictive, preventive, participatory, and personalized”, referred to as the P4 medicineparadigm. The omics revolution is generating a huge amount of data that needs to be collected, stored,transformed, analyzed and ultimately delivered in a format that is understandable to the clinicians. Properlyapplied, healthcare analytics provide actionable insights that can lead to improvement in healthcaremanagement and delivery, clinical outcomes, health policies and allocation of health resources to communitiesin need.
 Medical institutions worldwide are facing many challenges. There is a shortage of trained human resource,patients are more demanding and regulators are becoming more stringent. The healthcare systems are underpressure to provide better and safer healthcare that is also more cost-effective. This is leading to thedevelopment of a whole new healthcare analytics industry to capture, store and analyze big data for healthcareproviders, health system leaders, and those in government health and human services to improve healthcaredelivery and outcomes. A report by McKinsey Global Institute published in 2011 estimated that if US healthcarewere to use big data creatively and effectively, the sector could create more than $300 billion in value everyyear.1
 While innovative new technologies and platforms are making it possible to capture vast amounts ofinformation of individual patient over a large timescale, a large amount of data remains underutilized andwasted. It is estimated that healthcare providers discard around 90% of the data that they produce.1 One of thegreatest challenges in healthcare analytics is harvesting the data from multiple complex and heterogenoussources spread across different healthcare systems, health insurers, scientists, government bodies etc. andtransforming it to generate meaningful information. Moreover, the personal and financial data and medicalrecords of patients required to contribute to effective analytical platforms may be confidential and private andtherefore inaccessible. Hospitals are also reluctant to share their financial and clinical audits. There is the issuealso of ownership of the data and in many countries patient data is legally possessed by the patient. Even so thehealthcare industry, slow to transition towards data mining and IT solutions, has now begun to adapt to thedigital data age. Algorithms for collecting, compressing, anonymizing and sharing medical data are beingdeveloped by different groups in addition to various platforms specific to healthcare analytics.
 The implementation of healthcare analytics, particularly in developing countries like Pakistan where mosthealthcare facilities lack even the most basic form of EHRs is a formidable challenge. Pakistan has a robust ITcommunity with a special interest and investment by the government sector in IT and Artificial Intelligenceplatforms. Pakistan government last year announced seed money of Rs 1.1 billion, to carry out a three-yearproject on AI, through the Higher Education Commission to be conducted by six universities. One of theseprojects, related to medical imaging and diagnostics, is a step in the right direction. However, we still have a long way to go if we are to reap the benefits of healthcare analytics in Pakistan. There is a need for the involvement and commitment of all stakeholders including healthcare facilities, academicians, researchers and industry etc to contribute to this endeavor. There is no shortage of qualified human resource in the country. All that is required is the will of the health sector to invest in this golden opportunity for healthcare analytics to play a role in improving the delivery of cost-effective care, save lives and define health policies in Pakistan.
 Editor-in-Chief 
 How to cite this: Alamgir W, Mohyuddin A . Healthcare Analytics: Applications and Challenges. Life and Science. 2022; 3(3): 97-98. doi: http://doi.org/10.37185/LnS.1.1.263

Bridging Gender Equality in The Workplace: The Role of Personal Branding and Self-Confidence

Considering the social psychological, social cognitive, and economic factors, this paper aims to examine how gender equality can be bridged in the workplace through the empowerment of women workers’ ability to craft and narrate personal branding and self-confidence to gain better condition in the workplace. A total of 200 questionnaires are distributed to 200 woman employees working in 10 manufacturing industries in 5 regions in West Java, Indonesia. The independent variable of the personal branding scale is adopted from Peter and Montoya, the self-confidence scale is that of Frendika, and the dependent variable scale of gender equality is taken from McKinsey Global Institute's (MGI's) Power of Parity. A five point-Likert rating scale (1=lowest – 5=highest) is applied for each item; SPSS v 25 is also employed to analyze the data collected using AMOS v 25. The result shows that personal branding which includes relevance, consistency, and visibility has a positive and significantly has more dominant effect than self-confidence to bridge gender equality in the workplace.

Financing infrastructure projects in the context of sustainable development: theory and practice

In the period of the post COVID recovery of the global economy many countries with both developed and developing financial systems have faced problems of slowing economic growth and deteriorating social and environmental conditions. The key factor that could give a new impetus to the global financial system is increasingly seen as large-scale investment in infrastructure development, as an integral material base for modern technological development. Financing of infrastructure facilities in terms of anti-crisis neo-Keynesian measures is designed to solve social problems and provide a multiplier effect on other sectors of the economy. At the same time, for a country like Kazakhstan, there is an opportunity to qualitatively modernize obsolete and outdated infrastructure networks, as well as to realize its transit potential According to McKinsey Global Institute, the needs of the world economy in financing infrastructure investments during the period till 2030 will amount to $57 trillion. And according to the OECD, the annual deficit in financing infrastructure investments is about $ 1 trillion. The article summarizes theoretical and practical approaches to the problems of financing infrastructure projects to ensure the post-pandemic development of the national economy of Kazakhstan. Key words: Infrastructure projects, financing, investment, sustainable development.

Through and Beyond COVID-19, Promoting Whole Person, Lifelong and Life Wide Learning

The Covid-19 pandemic significantly affected what was originally classed as ‘normal’ for everyone across the world and will undoubtedly continue to impact on the everyday lifestyle and well-being of the general-public for years to come (Frampton, 2021). All the education sectors were affected, and the polytechnic sector was no exception. As the Government moves through and beyond Covid-19 with an agenda firmly rooted in developing skills, it starts to raise questions around widening participation, not just in terms of entry criteria, but also in terms of institutional readiness to support such diverse groups of learners using tailored whole person pedagogical approaches (Kim et al., 2021; McCoy, 2021). Furthermore, with the pandemic’s rapid acceleration of automation and ways of working, should the focus just be on skills? (McKinsey and Company, 2020; McKinsey Global Institute, 2020; Shepheard, 2020; The World Economic Forum, 2021). Or should there be a parity of esteem with other aspects and outcomes of whole person learning such as reflective practice, professional identity, attitudes, and behaviours which might be best nurtured and developed through both lifelong and life wide learning? As the world moves to a position of coexisting with Covid-19, could part of the solution to improving learner satisfaction and employability be through more person-centred programmes of study? This review paper argues that the solution is one that is achieved by increasing learner agency and creating a tailored study programme that is focused on the knowledge, experience, social and emotional needs of the learner. The long-term success of these approaches that are discussed within this paper are dependent on several factors outlined within the paper, which will require further inquiry.

THE NEED FOR ADAPTATION OF HUMAN RESOURCES (HR) AND LEARNING PROCESSES TO UNCERTAINTY AND TURBULENCE

The relevance of this study is due to the fact that under the influence of digitalization and other crises, the internal processes of the organization, including HR, have significantly changed. Companies are reshaping their recruiting processes, using online learning and digital HR solutions more actively, developing platforms for employee interaction, and moving to more flexible forms of team building in the organization. In the context of the new reality, the coronavirus pandemic, digitalization and production automation, companies face all sorts of difficulties. To solve them, managers need to take a number of strategically correct actions, which in turn will require updating the skills of employees. The article presents trends in skill sets for all professions, which will become significantly more complicated, as well as problems and solutions in the process of adapting human resources and learning processes in response to the challenges of the new reality. The empirical basis of the research is the analytical research of the WEF “The Fourth Industrial Revolution. Targets for the development of industrial technologies and innovations ", 2019; consulting company PwC "Industry 4.0: Building the digital enterprise", 2016; Economics of Transition "Educational upgrading, structural change and the task composition of jobs in Europe", 2018; McKinsey Global Institute "A future that works: AI, automation, employment, and productivity", 2017; WEF "The Future of Jobs Report", 2020. The practical significance of this study lies in the disclosure of issues that require rethinking the traditional career path: continuous work experience or specialization in a specific field becomes a rudiment. This will help employees and leaders of companies to build alternative development trajectories, because when employees feel that their work is fraught with the risk of downsizing or increasing digitalization and automation, they begin to consider upgrading their skills or even changing careers.

Китайский феномен экономического роста

Modern China should be considered as an unique experiment and great world project of human civilization, effectively a co-product of the Communist Party of China (CPC) and the West. The centuries-old concept of a free-market economy fell on fertile ground of the hardworking Chinese people and in a short historical period since the beginning of the reform has finally bore fruit. Globalization and digitalization have greatly helped the Chinese economy to expand around the world and have become powerful catalysts for Chinese economic development, providing it with new approaches to doing business. The article attempts to analyze this phenomenon and systematize the factors of China’s growth. Key aspects of the Chinese economy transformation are studied, such as GDP (in current and constant prices) and GNI per capita, manufacturing and trade, finance and capital. Special attention is paid to the global leadership role of China or/and the USA: Economy, Manufacturing, and International Trade. An in-depth comparative analysis of the economic growth indicators for China and the USA is based on extensive international statistical data. The author focuses on estimates of key indicators published by international bodies, such as the United Nations, UNCTAD, UNIDO, OECD, WTO and others. Various think tanks, independent agencies and other institutions such as McKinsey Global Institute, Primakov Institute of World Economy and International Relations RAS, Congressional Research Service (CRS), United States–China Economic and Security Review Commission, Committee on Foreign Investment in the United States (CFIUS) have been analyzing Chinese phenomenon of economic growth. Quantitative assessments of China’s economic growth are discussed. As shown, China plays a major role in the world economy and manufacturing. It is now the world’s first country by many economic indicators. In 2007, China became the world’s largest merchandise exporter. In 2009, it took the 1st place in manufacturing value-added output. Measured by purchasing power parity (PPP), in 2017 China stood as the world-largest economy in terms of GDP in current US dollars. Over the past decade, China has provided at least 30 percent of global GDP growth, while the United States was half as much. China is in the world’s top two for receiving and being the source of foreign direct investment (FDI). In 2020, China had 124 Global Fortune 500 companies compared to 121 American. At the same time, the US remains the world leader in many other quantitative indicators, for example in GDP at official exchange rates, innovation, research and development, finance, and services. It also ranks first in the world in terms of quality indicators of economic development. The author gives his vision of the China’s economic growth fundamental factors. Four of them are identified: a) low labor costs, b) well-designed legal environment for attracting foreign capital, c) massive FDI influx, d) imports of capital goods as well as modern Western technologies, including transfer of critical technologies, intellectual property and know-how (mainly through acquisition of Western firms). The general conclusion is that the reforms completely transformed the lives of Chinese people. China of the 1970s 80s and today’s China are two different economic, industrial, scientific, technical, socio-humanitarian entities.

TOURISM INDUSTRY AND THE COVID-19 PANDEMIC: IMPACT AND CONSEQUENCES

The study aims to explore the relationship between the pandemic and the tourism industry. The emergence of infectious diseases is one of the consequences of tourism and mobility of citizens. The article examines the scientific research of foreign authors on the impact of epidemiological diseases on the tourism industry. The pricing strategies of travel companies caused by the policy of curbing the spread of coronavirus infection are analyzed. The authors cite some forms of adaptation of the tourism industry to the conditions of the COVID-19 pandemic (in such countries as Costa Rica, Jamaica, the Republic of Fiji, Finland, Greece, Iceland, Israel, Japan, the UAE, China). A statistical analysis of the tourism development in the Russian Federation (the number of incoming and outgoing tourists, the number of hotels and similar accommodation facilities) was carried out. The COVID-19 pandemic has reoriented the outbound tourist flow to domestic destinations. The advantages of developing domestic trips in comparison with international ones regarding their role in the economic development of regions are presented. The pandemic has led to an inevitable surge in the use of digital technologies due to the norms of social distancing and nationwide restrictions. One of the most popular forms of technological applications in the tourism industry is virtual reality. The use of virtual reality can contribute to the creation of a new, more sustainable model of tourism. The article presents four scenarios for the recovery of world tourism, developed by the McKinsey Global Institute and the Oxford Institute of Economic Policy (Oxford Economics). The authors identified priority areas of transformation of the tourism industry in the post-pandemic period, including at the technological level.

Early Adopters to Early Majority - What's Driving the Artificial Intelligence and Machine Learning Powered Transformation in Financial Services?

From retail banking to corporate banking, from property and casualty to personal lines, and from portfolio management to trade processing, the next wave of digital disruption in financial services has been unleashed by the concepts and applications of Artificial Intelligence (AI) and Machine Learning (ML). Together, AI and ML are undoubtedly creating one of the largest technological transformations the world has ever witnessed. Within the advanced streams of research in AI and ML, human intelligence blended with the cognitive reasoning of machines is finally out of the labs and into real-time applications. The Financial Services sector is one of the early adopters of this revolution and arguably much ahead of its leverage compared to other sectors. Built on the conceptual foundations of Innovation diffusion, and a contemporary perspective of enterprise customer life-cycle journey across the AI-value chain defined by McKinsey Global Institute (2017), the current study attempts to highlight the features and use-cases of early-adopters of this transformation. With the theoretical underpinning of technology adoption lifecycle, this paper is an earnest attempt to comment on how AI and ML have been significantly transforming the Financial Services market space from the lens of a domain practitioner. The findings of this study would be of particular relevance to the subject matter experts, Industry analysts, academicians, and researchers focussed on studying the impact of AI and ML in the financial services industry.

Глобальные цепочки создания стоимости в период пандемии COVID-19

The article discusses the status of Global Value Chains (GVCs) amid the COVID 19 pandemic and their influence on world economic development. Key aspects of the world economy and GVCs transformation in the context of the COVID 19 are studied. A brief overview of the economic literature and development of theoretical frameworks and concepts of Global Value Chains as well as globalisation and “slowbalisation” is provided. The article focuses on estimates of key indicators published by international bodies, such as the United Nations, UNCTAD, UNIDO, OECD, WTO, IMF and others. Various think tanks and other institutions such as World Economic Forum, European Central Bank, McKinsey Global Institute, Deloitte, NBER have been analyzing GVCs’ contribution to the transmission of the COVID 19 macroeconomic shocks across countries. A quantitative assessment of participation in GVCs for countries and regions based on available data in the Trade in Value Added (TiVA) database are discussed. Specific attention is paid to the key GVCs indicators, including exports of intermediate goods and foreign value added share of gross exports. Special attention is paid to the economic downturn in the United States and characteristics of GVCs involving enterprises located in Wuhan (China), which is very important to many global supply chains. Various kinds of long-term trends and structural changes are analyzed. It is noted that gross domestic product (GDP) of the USA in constant 2012 prices (ignoring inflation) fell in the second quarter of 2020 compared to the previous quarter by 31.7% but only 9.1% compared to the first quarter of 2020. It is concluded that improving supply chains’ recovery ability will be an important factor for restoring global economic activity in post-coronavirus times.

Gender responsive budgeting: the case of India

Gender inequality is a major concern that governments are trying to address worldwide. It is estimated that bridging gender gap in India alone would increase the business-as-usual GDP by 18% by 2025, according to McKinsey Global Institute (2018). Given this, one of the most efficient ways to target the right audience could be through public budget, by allocating efficiently. Gender responsive budgeting (GRB) was officially introduced in India in 2005. This paper will discuss different stages of GRB in the Indian context: from collecting gender-disaggregated data to publishing handbooks on implementation frameworks. It will also discuss how impediments were overcome at various phases and lessons learned during the same. Some potential learning includes how GRB can act as a potent policy instrument to reduce inequality and foster inclusion. This will also discuss existing gaps and provide recommendations to solve the same.

LITERACY EDUCATION URGENCY FOR CENTENNIAL GENERATION IN INDUSTRIAL REVOLUTION 4.0

When talking about children’s abilities, they indeed cannot be separated from their educational or training background. Moreover, he has entered the working age that must have productivity in his work, especially at this time, where the era has entered the industrial revolution 4.0. The industrial revolution 4.0 is marked by the development of digitalization in various lines of life. On the one hand, the industrial revolution 4.0 had many positive impacts. However, on the other hand, as the McKinsey Global Institute states that as a result of the 4.0 industrial revolution in the next five years, there will be 52.6 million jobs that will decline and even disappear. This certainly will be a challenge for the centennial generation (children born from 1996-2011) at this time, which they have to survive with the existing conditions and situations. This paper will discuss several factors that describe and address issues such as what is meant by the centennial generation, literacy, and the urgency of literacy education for the centennial generation in the digital age. According to authors, thi is essential to discuss, given the increasingly rapid development and technological progress resulting in the loss of much work.

Data, Communication, and Human Cognition: Challenges and Best Practices

Organizations of various sizes and fields have experienced an influx of data-related challenges due to rapid technological advancement in the fields of information and communications technology which impacts every facet of operation. Consequently, the currency of this modern world is no longer only in terms of products, services and dollars, but most importantly in data and the capability to leverage it for the organization’s strategic advantage. Big data has impacted all sectors of the industry, although not fully realized in healthcare as noted by the McKinsey Global Institute in its 2016 report. Meanwhile it is projected to continue to drive innovation in Healthcare especially in transforming clinical care and providing personalized medicine. Hence, this presentation takes this impact as a point of departure to argue that managing data will be a continuing challenge for organization. It shall also argue that communication of data within the organization and among stakeholders shall be a critical skill that must be maintained and developed as it is a hinge pin for success in realizing the objectives associated with managing data. In addition it shall also argue that effective communication can happen when human cognitive tendencies are understood in the communication process leading to exploration and survey of practical techniques of presenting data visually in a more engaging, effective and compelling ways.

Market Trends in Post Covid-19 Trades and Services

The rise of the digital economy as a major force in the expansion of the economy and the modernization of society is undeniable. Although digitalization enabled solutions to temporary needs like remote employment, distance learning, telemedicine, and e-commerce during the crisis, these developments have the potential to become permanent changes in the digital environment. If Europe were to catch up to the United Usa in digital or artificial intelligence technologies by 2030, the McKinsey Global Institute predicted that it would contribute €3.6 trillion to GDP. Funding (particularly for early financial investments), skills, and effective business models are the traditional digitalization entry obstacles (Offices of Science & Innovation, 2020). The COVID-19 problem has led to three major market shifts: The rapid rise of digitization in business and culture, the challenges and prospects of Industry 4.0, and the need of protecting personal data.