QuantumBlack, AI by McKinsey

If 2023 was the year the world discovered generative #AI, 2024 is the year of implementation (and deriving value from) this breakthrough technology. 🙌 Our State of AI 2024 survey is out, and our latest findings show that organizations are already seeing material benefits from gen AI use, reporting both cost decreases and revenue jumps in the business units deploying the technology. Overall, 65% of respondents report that their organizations are regularly using gen AI now – nearly double what our previous survey found just 10 months ago. There’s a lot more to unpack. For the latest insights, check out the full survey. 👉 https://lnkd.in/eADN79Cd #AIbyMcKinsey #ArtificialIntelligence #GenerativeAI #Innovation

Managing data remains one of the main barriers to value creation from generative AI. About 70% of AI top performers say they’re experiencing difficulties integrating data into their AI models. So, how can data and AI leaders tackle those challenges to move from pilot to scale? Gen AI tools can accelerate the development of data products and data platforms – as well as improve their performance. Here are three actions that leaders can consider to strengthen the readiness of their data for gen AI use cases. 👇 Read more about these actions and why they matter: https://lnkd.in/e8aZ7WRc #AIbyMcKinsey #GenerativeAI #ArtificialIntelligence

Is generative AI the next steam engine? 🚂 This game-changing technology has unparalleled potential to shape the future of production, marketing, communication, sales, and many other aspects of doing business that have already been revolutionized dramatically over the past 12 months. To hear about this topic and more, tune in to the latest edition of our At the Edge podcast – where our colleague Lareina Yee talked with Reid Hoffman, co-founder of LinkedIn and Inflection AI, and founding investor in OpenAI. Together, they discussed how organizations can unlock the true value of gen AI and how this transformative tool is fueling a new cognitive and industrial revolution. 👉 https://lnkd.in/ej8bhgtz #AIbyMcKinsey #AtTheEdge #GenerativeAI

Last month, McKinsey Financial Services gathered together 280+ executives from more than 150 leading financial services institutions for our 21st Global Digital Banking Conference, where the discussion focused on how the banking sector is changing, particularly in light of the rise of AI. Here were the key takeaways. 👇 Scaling digital banking: Despite some initial reservations, incumbent institutions have now cracked the digital banking code, and we’re witnessing a surge in competition in the sector. 📈 Technology is now viewed as a core capability: Today, banks want tech skills in-house and are behaving more like tech companies, particularly when it comes to capability building. 👩💻 Generative AI on the rise: While banks are exploring gen AI, we’re still missing broad evidence of businesses using this technology to scale - expect this to change come our 22nd conference, though! 🤖 Read the full takeaways here: https://lnkd.in/eXBVRk-V #QuantumBlack #AIbyMcKinsey #ArtificialIntelligence #GenerativeAI

There’s a race on to capture value from digital and AI, and some industries like consumer packaged goods (CPG) risk falling behind. What can help them accelerate their efforts and move from pilot purgatory to scale? 🪜 Our research shows that while many companies are experimenting far and wide with digital and artificial intelligence (particularly gen AI), most are struggling to extract value from these experiments at scale. CPG companies are especially among the poorest performers – despite the huge value at stake. To truly outcompete in the age of digital and AI, leaders must learn to rewire their organizations from the ground up. Swipe below for six questions that can help with that process, and read our full article to dive deeper. 👉 https://lnkd.in/ePRPjPiN #AIbyMcKinsey #ArtificialIntelligence #GenerativeAI

Most of us know (and maybe use) at least one multimodal generative AI system these days – but how much do you know about this new step forward in large language models? 🫣 In the first chapter of our AI Trends Dictionary, we explore what multimodal generative AI is and its enormous learning potential! Let us know a term you’d like explored in the next Trends Dictionary! #AIbyMcKinsey #ArtificialIntelligence #GenerativeAI #ChatGPT

For years now AI has helped to advance the UN’s 17 Sustainable Development Goals. But today, thanks to the rise of generative AI and advancements elsewhere, these efforts are accelerating dramatically. 🌍 We delved into the data into our latest research, analyzing over 600 use cases and 1,000 non-profit deployments of AI to see how this technology can deliver social good for the entire world. Several key use cases emerged, including: health and wellbeing; gender equality; quality education; and affordable and clean energy. But deploying AI in these fields is easier said than done and multiple challenges remain. We outlined what these are and how to overcome them here: https://lnkd.in/dkDzXvyW #QuantumBlack #AIbyMcKinsey #SocialGood

In June, we wrapped a successful Americas Data & AI Summit in NYC!🏙️ This event gathered over 100 industry leaders, including more than 80 C-suite executives, to explore the future of data and AI. We heard from some stellar speakers giving discussions on: - the continuous advancement of generative AI - the importance of modular and transparent AI regulation - the necessity of building responsible AI from the start - the evolving role of CDOs balancing centralized and decentralized working models - the strategic benefits of alliances for rapid AI deployment - the ongoing evolution of technology architectures to enhance resource efficiency We’re excited for what’s to come as we continue to push the boundaries of what's possible with data and AI! 🚀 #Data #AIbyMcKinsey #AI

We’re excited to introduce our comprehensive suite of industry-focused AI products. 🎉 Featuring 20+ products, and representing the very latest in our AI capabilities, this suite codifies the knowledge we’ve gained from our years of leading-edge consulting engagements in sectors like life sciences, retail, and mining. To bring this vision to life, our QuantumBlack Labs team of 200 software engineers, designers, product managers, and data scientists, led by senior partner Matthew Fitzpatrick, collaborated with over 1,000 industry and functional practitioners, and harnessed the capabilities of our Horizon platform. Read more about the suite in our latest blog: https://lnkd.in/eq7n2Vc7 #QuantumBlack #AIbyMcKinsey #ArtificialIntelligence

Yesterday, we celebrate the International Women in Engineering Day! 🎉 In honor of this momentous day, we asked our team what the day means to them, their inspirations, and what surprises they’ve found in the field of engineering. Swipe through to find out what they had to say. ⬇ #LifeatQB #InspireInclusion #INWED24