DIGITAL AMERICA: A TALE OF THE HAVES AND HAVE-MORES

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The new McKinsey Global Institute (MGI) report, Digital America: A tale of the haves and have-mores, represents the first major attempt to measure the ongoing digitization of the US economy at a sector level. It introduces the MGI Industry Digitization Index, which combines dozens of indicators to provide a comprehensive picture of where and how companies are building digital assets, expanding digital usage, and creating a more digital workforce. In addition to the information- and communication-technology sector, media, financial services, and professional services are surging ahead, while others have significant upside to capture.

The report also quantifies the considerable gap between the most digitized sectors and the rest of the economy over time and finds that despite a massive rush of adoption, most sectors have barely closed that gap over the past decade. The lagging sectors are less than 15 percent as digitized as the leading sectors (exhibit). In fact, because the less digitized sectors are some of the largest in terms of GDP contribution and employment, we find that the US economy as a whole is only reaching 18 percent of its digital potential (defined as the upper bounds of usage by the leading sectors across a variety of metrics).

About the Author

It is 25 years since the founding of the McKinsey Global Institute (MGI). Over that time they have sought to develop a deeper understanding of the evolving global economy. They are a business and economics research arm of McKinsey & Company, MGI which aims to provide leaders in the commercial, public, and social sectors with the facts and insights on which to base management and policy decisions. 

MGI research combines the disciplines of economics and management, employing the analytical tools of economics with the insights of business leaders. Thier “micro-to-macro”
methodology examines microeconomic industry trends to better understand the broad macroeconomic forces affecting business strategy and public policy. MGI’s in-depth reports
have covered more than 20 countries and 30 industries. Current research focuses on six themes:

  • productivity and growth,
  • natural resources,
  • labor markets, the evolution of global 
  • financial markets,
  • the economic impact of technology and
  • innovation, and urbanization.

The partners of McKinsey & Company fund MGI’s research; it is not commissioned by any business, government, or other institution. For further information about MGI and to
download reports, please visit www.mckinsey.com/mgi.

DIGITAL AMERICA: A TALE OF THE HAVES AND HAVE-MORES

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