The Internet of Things (IoT)—sensors and actuators connected by networks to computing systems—has received enormous attention over the past five years. A new McKinsey Global Institute report, The Internet of Things: Mapping the value beyond the hype, attempts to determine exactly how IoT technology can create real economic value.

In advanced and emerging economies alike, individuals are struggling to find work and build careers that make use of their skills and capabilities. The strains in global labor markets have been worsening for decades, and the challenges have been magnified in the aftermath of the global recession. In many countries, concerns about employment have been...

This report seeks to understand the state of digital data, how different domains can use large datasets to create value, the potential value across stakeholders, and the implications for the leaders of private sector companies and public sector organizations, as well as for policy makers. We have supplemented our analysis of big data as a...