The Next Normal The recovery will be digital

The Next Normal

The recovery will

be digital

Digitizing at speed and scale

August 2020

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? Pobytov/Getty Images

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The Next Normal

The recovery will

be digital

Digitizing at speed and scale

August 2020

Introduction

Welcome to the ¡°next normal¡±¡ªthe new reality emerging from the ongoing COVID-19 pandemic. How will life,

public health, and business continue to change? We¡¯ve chronicled our response in a wide-ranging series of

publications¡ªmore than 500 articles and counting since the outbreak began.

This volume is the first of five edited collections produced to accompany our multimedia series, airing on

CNBC, examining the forces and themes shaping the next normal.

This collection focuses on the vital role of digital in today¡¯s businesses. Many organizations were already

in the throes of digital transformations pre-pandemic, before COVID-19 accelerated the pace of business

across the globe. Some sped up efforts already under way; others implemented digital capabilities for the

first time¡ªas a matter of survival.

In these pages, we have collected some of the best insights we published during these hectic months¡ª

on how top executives have led on digital initiatives, what specific companies across industries have done

differently, and the special challenge of cybersecurity. We have also included content that has resonated

particularly powerfully on , plus a number of articles authored by Kate Smaje, global leader

of McKinsey Digital and anchor of the digital segment of our multimedia series on CNBC. We hope you find

these insights useful as you continue to navigate your way into the evolving next normal.

Over the next few months, look for additional collections to accompany this digital compendium and

complement forthcoming segments on CNBC. Topics include organization, transformation, sustainability,

and resilience. You can download this and other collections in this series as they become available at

thenextnormal, where you will also find our entire collection of coronavirus-related insights.

Raju Narisetti

Publisher

McKinsey Global Publishing

2

Contents

Digital leadership

through COVID-19

The special challenge

of cybersecurity

Articles by Kate Smaje

6 Three actions CEOs

can take to get value from cloud

computing

58 COVID-19 crisis shifts

cybersecurity priorities and

budgets

140 The digital-led recovery from

COVID-19: Five questions for

CEOs

11 Digital strategy in a time

of crisis

66 Cybersecurity tactics for the

coronavirus pandemic

148 Driving digital change during a

crisis: The chief digital officer and

COVID-19

20 The COVID-19 recovery

will be digital: A plan for the first

90 days

27 After the first wave:

How CIOs can weather the

coronavirus crisis

33 How chief data officers

can navigate the COVID-19

response and beyond

How digital is driving

industries

40 Building an e-commerce

business: Lessons on moving fast

77 Cybersecurity¡¯s dual mission

during the coronavirus crisis

Most read on



154 ¡®Transformer in chief¡¯: The new

chief digital officer

160 Five habits for executives to

become more digital

163 The seven traits of effective

digital enterprises

86 Where machines can replace

humans¡ªand where they can¡¯t

(yet)

94 Why digital strategies fail

98 Blockchain beyond the hype:

What is the strategic business

value?

45 Preparing for the next normal via

digital manufacturing¡¯s scaling

potential

55 Fashion¡¯s digital transformation:

Now or never

66 Restore and reimagine:

Digital and analytics imperatives

for insurers

70 Inside a mining company¡¯s AI

transformation

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