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How artificial intelligence can deliver real value to companies

June 2017—Companies new to the space can learn a great deal from early adopters who have invested billions into AI and are now beginning to reap a range of benefits.
How artificial intelligence can deliver real value to companies

From the McKinsey Quarterly

Article - McKinsey Quarterly

Where is technology taking the economy?

– We are creating an intelligence that is external to humans and housed in the virtual economy. This is bringing us into a new economic... era—a distributive one—where different rules apply.
Article - McKinsey Quarterly

Using people analytics to drive business performance: A case study

– A quick-service restaurant chain with thousands of outlets around the world is using data to drive a successful turnaround, increase... customer satisfaction, and grow revenues.
Article - McKinsey Quarterly

Competing in a world of sectors without borders

– Digitization is causing a radical reordering of traditional industry boundaries. What will it take to play offense and defense... in tomorrow’s ecosystems?
Interview - McKinsey Quarterly

A machine-learning approach to venture capital

– In this interview, Hone Capital managing partner Veronica Wu describes how her team uses a data-analytics model to make better... investment decisions in early-stage start-ups.

NEW USE CASES

Report

How to improve student educational outcomes: New insights from data analytics

– By applying advanced analytics and machine learning, we have identified factors that play a critical role in student achievement.
Article - McKinsey Quarterly

Pushing manufacturing productivity to the max

– Advanced analytics and lower-cost computing give companies a powerful tool for managing profitability on an hourly basis.
Article

Ops 4.0: Fueling the next 20 percent productivity rise with digital analytics

– Business needs to raise productivity more than ever. Thanks to innovations in digitization and analytics, four new methodologies... can yield the productivity breakthroughs organizations need.
Article

Capturing value from your customer data

– Companies can put their information to work by teasing out novel patterns, driving productivity, and creating new solutions.

Expert views

Podcast

Artificial intelligence in business: Separating the real from the hype

– The potential for AI to infuse business and value chains across various industries is greater than ever before—but where should executives start?
Video

Ask the AI experts: What advice would you give to executives about AI?

– As executives consider where artificial intelligence can unlock business value, they’ll need to cut through the hype and find... talent with both technical and business acumen.
Interview

Automation at scale is driving transformative change across insurance

– Advances in robotics, cognition, artificial intelligence, and machine learning are ushering in a new era of automation. Machines... can now match or outperform humans across a range of activities in a number of industries, including insurance.
Video

What next for blockchain?

– The conversation around blockchain is changing. We’re only now starting to understand this technology’s full potential, says one... executive.
Video

The role of expertise and judgment in a data-driven world

– The Obama campaign’s former data-analytics chief explains why a healthy dose of skepticism and a clear understanding of... the process behind data collection leads to stronger strategies and real impact.

Organizing for Success

Blog post

What every CEO needs to know to succeed with AI

– Senior executives can jump-start their AI journeys by considering these ten critical issues.
Article - McKinsey Quarterly

Making data analytics work for you—instead of the other way around

– Does your data have a purpose? If not, you’re spinning your wheels. Here’s how to discover one and then translate it into action.
Article

Advanced analytics: Nine insights from the C-suite

– Conversations with hundreds of business leaders reveal nine ways that they are—and are not—adapting to the analytics... revolution.

INDUSTRY PERSPECTIVES

Article

Raising returns on analytics investments in insurance

– In an era of narrow margins and slow growth, insurers’ need to invest in analytics has never been greater. A few thoughtful initiatives can accelerate the analytics journey.
Article

Advanced analytics in hospitality

– Digital technologies are creating value and rearranging roles in the travel industry. Here’s how industry leaders are profiting... from the change.
Article

The road to artificial intelligence in mobility—smart moves required

– Is AI all hype? No. But automotive OEMs need to take five steps to overcome challenges and position themselves to succeed.
Article

Manufacturing: Analytics unleashes productivity and profitability

– High uncertainty and low growth have already forced manufacturers to squeeze every asset for maximum value. The next target is... their own data.
Article

Risk analytics enters its prime

– All the ingredients are in place for unprecedented advances in risk analytics. Now it’s up to banks to capture the opportunities.

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More insights

Article

Controlling machine-learning algorithms and their biases

– Myths aside, artificial intelligence is as prone to bias as the human kind. The good news is that the biases in algorithms can... also be diagnosed and treated.
Article

Ops 4.0: Analytics to value for a product-centered transformation

– Cutting-edge analytic tools, design thinking, customer insights, and procurement intelligence combine to free your company from... the commoditization treadmill.
Article

How advanced industrial companies should approach artificial-intelligence strategy

– Leaders need to determine what AI can do for their company by looking at potential applications and scenarios and then building... their approach around those findings.
Article

The neglected art of risk detection

– At the core of risk management is risk detection, an art that can be skillfully improved if banks and regulators accept new analytical... methods.
Article

The transformative power of automation in banking

– A second wave of automation in banking will increase capacity and free employees to focus on higher-value projects. To capture... the opportunity, banks must take a strategic, rather than tactical, approach.
Article

Navigating the digital future: The disruption of capital projects

– Digital technology is disrupting capital projects. Companies that want to emerge as leaders must transform their organizations... now.
Podcast

Setting an agenda for organic growth in the digital age

– Business leaders can focus on three mind-sets to drive growth in their companies and sustain that growth for the long term.
Podcast - McKinsey Quarterly

As sector borders dissolve, new business ecosystems emerge

– Over the next decade, learning to operate in a business world with disappearing borders will become a necessity for companies... that want to be competitive.
Article

Seven rules for spinning analytics straw into golden results

– While IoT-enabled advanced analytics could be worth trillions to manufacturers, turning insights into outcomes requires more than... just the right technology.
Report - McKinsey Global Institute

What Southeast Asia needs to become a major player in artificial intelligence

– For artificial intelligence to take hold in Southeast Asia, the region needs more defined business use cases, better data ecosystems,... and more concerted talent-development efforts.
Article

A smarter way to jump into data lakes

– An agile approach to data-lake development can help companies launch analytics programs quickly and establish a data-friendly... culture for the long term.

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