McKinsey

As McKinsey highlights a significant shift in how artificial intelligence will be used in the future, Verizon Communications Inc. (NYSE:VZ) launched AI Connect during its fourth quarter conference call, to meet the growing demand for network capacity and computational power. What Happened:...

Eighty percent of the metal and mining industry's revenues are derived from just five materials: steel, thermal coal, copper, gold, and aluminum, according to a recent McKinsey report. Steel and thermal coal alone account for 60%–70% of revenues, driven by their massive production volumes of 7...

The global market for the wellness industry is nearly $2 trillion, according to McKinsey's latest quarterly report. But, the consulting firm predicts that the sector will continue to grow at a rate of 5-10% a year as consumers increase spending on wellness and fitness trends.Here are some of the...

The U.S. Department of Justice is conducting a criminal investigation into the consulting firm McKinsey & Company for its role in advising major opioid manufacturers on increasing sales. The investigation also focuses on potential obstruction of justice related to McKinsey’s consulting...

In a historic move, Publicis Groupe SA (OTC:PUBGY), a French advertising company, has agreed to a $350 million settlement over its alleged role in the opioid crisis. This marks the first time an advertising firm has been held accountable for its part in the epidemic. What Happened: Publicis, the...

Leading consulting firms globally, including McKinsey and BCG, have decided to maintain their starting salaries for new graduates at 2023 levels in the U.S., a shift from the previous trend of increasing wages. This change comes as competition for jobs becomes more intense. This...

A recent study by the Wall Street Journal shows new hires at elite consulting firms like Bain, Boston Consulting Group, and McKinsey are reportedly being paid without having sufficient work, Business Insider reports. Traditionally, these consultants, fresh from business schools, are swamped with...

McKinsey & Company, a global consulting firm, announced that they see the metaverse growing into a $5 trillion economy by the year 2030. What Happened: In a report released June 15 named ‘Value Creation in the Metaverse,’ McKinsey predicted the valuation. The firm provides...

The holiday shopping season is always a busy time for consumers and brands alike.  Holiday shopping looks strong across the board in 2021. Management firm McKinsey projects a 7% increase from the previous year, up 9% from 2019. A 2020 report from cannabis data firm Headset found that cannabis...

An interesting trend in the grocery store space is playing out: one out of five consumers switched to a new primary grocery store due to the coronavirus pandemic, according to a McKinsey survey of 1,500 shoppers. The Survey: What Consumers Need Shoppers are scrambling to new grocery stores...

A third of banks around the world are too weak to survive a severe economic recession, a management consulting firm McKinsey & Co. said in a Monday report. What Happened Pointing at decelerating growth in volumes and revenues, with lending growth standing at 4% in 2018, McKinsey said the...

Venture capitalists are pouring cash into U.S. biotechs at a rate set to replicate 2018’s record deal count, according to PitchBook and the National Venture Capital Association’s third-quarter Venture Monitor report. In the first three quarters alone, VCs struck 609 biopharma deals...

JPMorgan Chase & Co. (NYSE: JPM) is stepping up its digital payments game by offering free same-day deposits for its WePay customers. On Tuesday, WePay CEO Bill Clerico said by the end of 2019, all WePay customers will be able to make free same-day deposits. While other payment processors offer...

A shift in consumer behavior has pushed a number of luxury brands to improve their online presence and adopt new technology, with companies eager to profit from e-commerce sales. By 2022, e-commerce will account for 17% of total retail sales, according to a McKinsey report on retail and...