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Watch CBS News
By Melissa Quinn
Updated on: July 15, 2024 / 5:23 PM EDT / CBS News
Washington — Republican governors, lawmakers and nearly 2,500 delegates are convening in Milwaukee, Wisconsin , for the Republican National Convention , with former President Donald Trump formally receiving the party's 2024 nomination for president during a roll call vote of the state delegations Monday.
The roll call brings to an end the GOP presidential primary, though it's been known for months that Trump would be the party's choice to take on President Biden in November. The former president clinched the nomination in March, after he secured the 1,215 Republican delegates needed to become the presumptive GOP presidential nominee.
Trump announced Ohio Sen. J.D. Vance as his vice presidential running mate as the roll call was underway. Trump will also deliver a speech formally accepting the Republican presidential nomination to close out the convention Thursday.
With the announcement of Florida's 125 votes for Trump, delivered by his son, Eric Trump, the GOP officially nominated him for president. Eric Trump was accompanied by Donald Trump Jr., the former president's eldest son, and Tiffany Trump, his daughter.
House Speaker Mike Johnson, who is chair of the convention, announced at the conclusion of the roll call that 2,387 votes were cast for Trump.
"Let's make it official," he said. "Accordingly, the chair announces the President Donald J. Trump, having received a majority of the votes entitled to be cast at the convention, has been selected as the Republican Party nominee for president of the United States."
State delegations announced their votes for the presidential nomination. Here is the breakdown of votes from each state and territory:
During the roll call, the head of each state's and territory's delegation was called on to announce the votes of their state or territory's respective nomination for president. If a state delegation had passed when its name is called, it will be called again at the conclusion of the roll call.
Delegates are selected to represent their state or area at the convention, and most of those are bound to back Trump, as they're required to vote in accordance with the outcome of their state's primary or caucus. Roughly 150 delegates were unbound heading into the convention, since a small number of delegations, including those from Montana, New Mexico and South Dakota, were not required to vote for their state's chosen candidate.
Trump came into the convention with an estimated 2,243 delegates based on the results of primaries and caucuses held earlier this year, according to the CBS News Delegate Tracker.
Though Trump cruised to victory during the primary elections, his former rival in the race, Nikki Haley, secured 94 delegates, according to the Delegate Tracker. Haley's campaign said she earned 97 delegates during the primary process.
But Haley announced last week she would be releasing those delegates and encouraged them to vote for Trump at the convention. State party rules dictate whether Haley's delegates are bound to her or whether they're free to vote for a different candidate since she withdrew from the presidential contest .
In Iowa, for example, Trump, Haley, Florida Gov. Ron DeSantis and biotech entrepreneur Vivek Ramaswaky secured delegates after the caucuses . But under state party rules, since Trump was the only candidate nominated at the convention, the entire 40-person delegation voted for him.
Melissa Quinn is a politics reporter for CBSNews.com. She has written for outlets including the Washington Examiner, Daily Signal and Alexandria Times. Melissa covers U.S. politics, with a focus on the Supreme Court and federal courts.
Despite challenging overall market conditions in 2023, continuing investments in frontier technologies promise substantial future growth in enterprise adoption. Generative AI (gen AI) has been a standout trend since 2022, with the extraordinary uptick in interest and investment in this technology unlocking innovative possibilities across interconnected trends such as robotics and immersive reality. While the macroeconomic environment with elevated interest rates has affected equity capital investment and hiring, underlying indicators—including optimism, innovation, and longer-term talent needs—reflect a positive long-term trajectory in the 15 technology trends we analyzed.
This year, we reflected the shifts in the technology landscape with two changes on the list of trends: digital trust and cybersecurity (integrating what we had previously described as Web3 and trust architectures) and the future of robotics. Robotics technologies’ synergy with AI is paving the way for groundbreaking innovations and operational shifts across the economic and workforce landscapes. We also deployed a survey to measure adoption levels across trends.
These are among the findings in the latest McKinsey Technology Trends Outlook, in which the McKinsey Technology Council identified the most significant technology trends unfolding today. This research is intended to help executives plan ahead by developing an understanding of potential use cases, sources of value, adoption drivers, and the critical skills needed to bring these opportunities to fruition.
Our analysis examines quantitative measures of interest, innovation, investment, and talent to gauge the momentum of each trend. Recognizing the long-term nature and interdependence of these trends, we also delve into the underlying technologies, uncertainties, and questions surrounding each trend. (For more about new developments in our research, please see the sidebar “What’s new in this year’s analysis”; for more about the research itself, please see the sidebar “Research methodology.”)
The two trends that stood out in 2023 were gen AI and electrification and renewables. Gen AI has seen a spike of almost 700 percent in Google searches from 2022 to 2023, along with a notable jump in job postings and investments. The pace of technology innovation has been remarkable. Over the course of 2023 and 2024, the size of the prompts that large language models (LLMs) can process, known as “context windows,” spiked from 100,000 to two million tokens. This is roughly the difference between adding one research paper to a model prompt and adding about 20 novels to it. And the modalities that gen AI can process have continued to increase, from text summarization and image generation to advanced capabilities in video, images, audio, and text. This has catalyzed a surge in investments and innovation aimed at advancing more powerful and efficient computing systems. The large foundation models that power generative AI, such as LLMs, are being integrated into various enterprise software tools and are also being employed for diverse purposes such as powering customer-facing chatbots, generating ad campaigns, accelerating drug discovery, and more. We expect this expansion to continue, pushing the boundaries of AI capabilities. Senior leaders’ awareness of gen AI innovation has increased interest, investment, and innovation in AI technologies, such as robotics, which is a new addition to our trends analysis this year. Advancements in AI are ushering in a new era of more capable robots, spurring greater innovation and a wider range of deployments.
To assess the development of each technology trend, our team collected data on five tangible measures of activity: search engine queries, news publications, patents, research publications, and investment. For each measure, we used a defined set of data sources to find occurrences of keywords associated with each of the 15 trends, screened those occurrences for valid mentions of activity, and indexed the resulting numbers of mentions on a 0–1 scoring scale that is relative to the trends studied. The innovation score combines the patents and research scores; the interest score combines the news and search scores. (While we recognize that an interest score can be inflated by deliberate efforts to stimulate news and search activity, we believe that each score fairly reflects the extent of discussion and debate about a given trend.) Investment measures the flows of funding from the capital markets into companies linked with the trend.
Data sources for the scores include the following:
In addition, we updated the selection and definition of trends from last year’s report to reflect the evolution of technology trends:
Finally, we used survey data to calculate the enterprise-wide adoption scores for each trend:
Electrification and renewables was the other trend that bucked the economic headwinds, posting the highest investment and interest scores among all the trends we evaluated. Job postings for this sector also showed a modest increase.
Although many trends faced declines in investment and hiring in 2023, the long-term outlook remains positive. This optimism is supported by the continued longer-term growth in job postings for the analyzed trends (up 8 percent from 2021 to 2023) and enterprises’ continued innovation and heightened interest in harnessing these technologies, particularly for future growth.
Join Lareina Yee and Roger Roberts on Tuesday, July 30, at 12:30 p.m. EDT/6:30 p.m. CET as they discuss the future of these technological trends, the factors that will fuel their growth, and strategies for investing in them through 2024 and beyond.
In 2023, technology equity investments fell by 30 to 40 percent to approximately $570 billion due to rising financing costs and a cautious near-term growth outlook, prompting investors to favor technologies with strong revenue and margin potential. This approach aligns with the strategic perspective leading companies are adopting, in which they recognize that fully adopting and scaling cutting-edge technologies is a long-term endeavor. This recognition is evident when companies diversify their investments across a portfolio of several technologies, selectively intensifying their focus on areas most likely to push technological boundaries forward. While many technologies have maintained cautious investment profiles over the past year, gen AI saw a sevenfold increase in investments, driven by substantial advancements in text, image, and video generation.
QuantumBlack, McKinsey’s AI arm, helps companies transform using the power of technology, technical expertise, and industry experts. With thousands of practitioners at QuantumBlack (data engineers, data scientists, product managers, designers, and software engineers) and McKinsey (industry and domain experts), we are working to solve the world’s most important AI challenges. QuantumBlack Labs is our center of technology development and client innovation, which has been driving cutting-edge advancements and developments in AI through locations across the globe.
Despite an overall downturn in private equity investment, the pace of innovation has not slowed. Innovation has accelerated in the three trends that are part of the “AI revolution” group: gen AI, applied AI, and industrializing machine learning. Gen AI creates new content from unstructured data (such as text and images), applied AI leverages machine learning models for analytical and predictive tasks, and industrializing machine learning accelerates and derisks the development of machine learning solutions. Applied AI and industrializing machine learning, boosted by the widening interest in gen AI, have seen the most significant uptick in innovation, reflected in the surge in publications and patents from 2022 to 2023. Meanwhile, electrification and renewable-energy technologies continue to capture high interest, reflected in news mentions and web searches. Their popularity is fueled by a surge in global renewable capacity, their crucial roles in global decarbonization efforts, and heightened energy security needs amid geopolitical tensions and energy crises.
The talent environment largely echoed the investment picture in tech trends in 2023. The technology sector faced significant layoffs, particularly among large technology companies, with job postings related to the tech trends we studied declining by 26 percent—a steeper drop than the 17 percent decrease in global job postings overall. The greater decline in demand for tech-trends-related talent may have been fueled by technology companies’ cost reduction efforts amid decreasing revenue growth projections. Despite this reduction, the trends with robust investment and innovation, such as gen AI, not only maintained but also increased their job postings, reflecting a strong demand for new and advanced skills. Electrification and renewables was the other trend that saw positive job growth, partially due to public sector support for infrastructure spending.
Even with the short-term vicissitudes in talent demand, our analysis of 4.3 million job postings across our 15 tech trends underscored a wide skills gap. Compared with the global average, fewer than half the number of potential candidates have the high-demand tech skills specified in job postings. Despite the year-on-year decreases for job postings in many trends from 2022 to 2023, the number of tech-related job postings in 2023 still represented an 8 percent increase from 2021, suggesting the potential for longer-term growth (Exhibit 1).
The trajectory of enterprise technology adoption is often described as an S-curve that traces the following pattern: technical innovation and exploration, experimenting with the technology, initial pilots in the business, scaling the impact throughout the business, and eventual fully scaled adoption (Exhibit 2). This pattern is evident in this year’s survey analysis of enterprise adoption conducted across our 15 technologies. Adoption levels vary across different industries and company sizes, as does the perceived progress toward adoption.
Image description:
A graph depicts the adoption curve of technology trends, scored from 1 to 5, where 1 represents frontier innovation, located at the bottom left corner of the curve; 2 is experimenting, located slightly above frontier innovation; 3 is piloting, which follows the upward trajectory of the curve; 4 is scaling, marked by a vertical ascent as adoption increases; and 5 is fully scaled, positioned at the top of the curve, indicating near-complete adoption.
In 2023, the trends are positioned along the adoption curve as follows: future of space technologies and quantum technologies are at the frontier innovation stage; climate technologies beyond electrification and renewables, future of bioengineering, future of mobility, future of robotics, and immersive-reality technologies are at the experimenting stage; digital trust and cybersecurity, electrification and renewables, industrializing machine learning, and next-gen software development are at the piloting stage; and advanced connectivity, applied AI, cloud and edge computing, and generative AI are at the scaling stage.
Footnote: Trend is more relevant to certain industries, resulting in lower overall adoption across industries compared with adoption within relevant industries.
Source: McKinsey technology adoption survey data
End of image description.
We see that the technologies in the S-curve’s early stages of innovation and experimenting are either on the leading edge of progress, such as quantum technologies and robotics, or are more relevant to a specific set of industries, such as bioengineering and space. Factors that could affect the adoption of these technologies include high costs, specialized applications, and balancing the breadth of technology investments against focusing on a select few that may offer substantial first-mover advantages.
As technologies gain traction and move beyond experimenting, adoption rates start accelerating, and companies invest more in piloting and scaling. We see this shift in a number of trends, such as next-generation software development and electrification. Gen AI’s rapid advancement leads among trends analyzed, about a quarter of respondents self-reporting that they are scaling its use. More mature technologies, like cloud and edge computing and advanced connectivity, continued their rapid pace of adoption, serving as enablers for the adoption of other emerging technologies as well (Exhibit 3).
A segmented bar graph shows the adoption levels of tech trends in 2023 as a percentage of respondents. The trends are divided into 5 segments, comprising 100%: fully scaled, scaling, piloting, experimenting, and not investing. The trends are arranged based on the combined percentage sum of fully scaled and scaling shares. Listed from highest to lowest, these combined percentages are as follows:
The process of scaling technology adoption also requires a conducive external ecosystem where user trust and readiness, business model economics, regulatory environments, and talent availability play crucial roles. Since these ecosystem factors vary by geography and industry, we see different adoption scenarios playing out. For instance, while the leading banks in Latin America are on par with their North American counterparts in deploying gen AI use cases, the adoption of robotics in manufacturing sectors varies significantly due to differing labor costs affecting the business case for automation.
As executives navigate these complexities, they should align their long-term technology adoption strategies with both their internal capacities and the external ecosystem conditions to ensure the successful integration of new technologies into their business models. Executives should monitor ecosystem conditions that can affect their prioritized use cases to make decisions about the appropriate investment levels while navigating uncertainties and budgetary constraints on the way to full adoption (see the “Adoption developments across the globe” sections within each trend or particular use cases therein that executives should monitor). Across the board, leaders who take a long-term view—building up their talent, testing and learning where impact can be found, and reimagining the businesses for the future—can potentially break out ahead of the pack.
Lareina Yee is a senior partner in McKinsey’s Bay Area office, where Michael Chui is a McKinsey Global Institute partner, Roger Roberts is a partner, and Mena Issler is an associate partner.
The authors wish to thank the following McKinsey colleagues for their contributions to this research: Aakanksha Srinivasan, Ahsan Saeed, Alex Arutyunyants, Alex Singla, Alex Zhang, Alizee Acket-Goemaere, An Yan, Anass Bensrhir, Andrea Del Miglio, Andreas Breiter, Ani Kelkar, Anna Massey, Anna Orthofer, Arjit Mehta, Arjita Bhan, Asaf Somekh, Begum Ortaoglu, Benjamin Braverman, Bharat Bahl, Bharath Aiyer, Bhargs Srivathsan, Brian Constantine, Brooke Stokes, Bryan Richardson, Carlo Giovine, Celine Crenshaw, Daniel Herde, Daniel Wallance, David Harvey, Delphine Zurkiya, Diego Hernandez Diaz, Douglas Merrill, Elisa Becker-Foss, Emma Parry, Eric Hazan, Erika Stanzl, Everett Santana, Giacomo Gatto, Grace W Chen, Hamza Khan, Harshit Jain, Helen Wu, Henning Soller, Ian de Bode, Jackson Pentz, Jeffrey Caso, Jesse Klempner, Jim Boehm, Joshua Katz, Julia Perry, Julian Sevillano, Justin Greis, Kersten Heineke, Kitti Lakner, Kristen Jennings, Liz Grennan, Luke Thomas, Maria Pogosyan, Mark Patel, Martin Harrysson, Martin Wrulich, Martina Gschwendtner, Massimo Mazza, Matej Macak, Matt Higginson, Matt Linderman, Matteo Cutrera, Mellen Masea, Michiel Nivard, Mike Westover, Musa Bilal, Nicolas Bellemans, Noah Furlonge-Walker, Obi Ezekoye, Paolo Spranzi, Pepe Cafferata, Robin Riedel, Ryan Brukardt, Samuel Musmanno, Santiago Comella-Dorda, Sebastian Mayer, Shakeel Kalidas, Sharmila Bhide, Stephen Xu, Tanmay Bhatnagar, Thomas Hundertmark, Tinan Goli, Tom Brennan, Tom Levin-Reid, Tony Hansen, Vinayak HV, Yaron Haviv, Yvonne Ferrier, and Zina Cole.
They also wish to thank the external members of the McKinsey Technology Council for their insights and perspectives, including Ajay Agrawal, Azeem Azhar, Ben Lorica, Benedict Evans, John Martinis, and Jordan Jacobs.
Special thanks to McKinsey Global Publishing colleagues Barr Seitz, Diane Rice, Kanika Punwani, Katie Shearer, LaShon Malone, Mary Gayen, Nayomi Chibana, Richard Johnson, Stephen Landau, and Victor Cuevas for making this interactive come alive.
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Welcome to Turnitin's new website for guidance! In 2024, we migrated our comprehensive library of guidance from https://help.turnitin.com to this site, guides.turnitin.com. During this process we have taken the opportunity to take a holistic look at our content and how we structure our guides.
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Survey representation was balanced across Africa, Asia, Europe, Latin America, the Middle East, and North America. ... Definition of enterprise-wide adoption scores: 1: Frontier innovation. This technology is still nascent, with few organizations investing in or applying it. It is largely untested and unproven in a business context.