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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

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.
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 - 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.

NEW USE CASES

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.
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.
Executive Briefing - McKinsey Global Institute

What’s now and next in analytics, AI, and automation

– Innovations in digitization, analytics, artificial intelligence, and automation are creating performance and productivity opportunities... for business and the economy, even as they reshape employment and the future of work.
Article

Beyond the buzz: Harnessing machine learning in payments

– Opportunities to expand the use of machine learning in payments range from using Web-sourced data to more accurately predict borrower... delinquency to using virtual assistants to improve customer service.

Expert views

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.
Video

Ask the AI experts: What are the applications of AI?

– Automotive, financial services, utilities—in these and many other industries, businesses are already applying artificial intelligence... to core business processes and to innovating products.
Video

Ask the AI experts: What’s driving today’s progress in AI?

– While the deep-learning technology behind many of today’s AI advances seems new to most, it has been around for decades—simply... needing the data and power available today to fuel it.
Video

Ask the AI experts: What will take AI capabilities to the next level?

– Deep learning has allowed technologists to employ AI in numerous business and consumer applications, but researchers are working... feverishly to master other techniques that will broaden AI’s reach.
Video

Ask the AI experts: Should we be afraid of AI?

– AI researchers largely agree that fears about machines infused with artificial intelligence becoming self-acting and overpowering... humans are overblown.

ORGANIZING FOR SUCCESS

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.
Podcast

How to win in the age of analytics

– There’s greater potential in big data. What’s ahead as the field matures?

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

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.
Article

Harnessing the potential of data in insurance

– Insurers collect a wealth of data, but few have found a way to monetize this asset. New “data as a business” models point the... way forward.
Article

Reimagining fabs: Advanced analytics in semiconductor manufacturing

– Fabs want to streamline the end-to-end process for designing and manufacturing semiconductors. Will innovative analytical tools... provide the solution they need?
Article

Analytics in banking: Time to realize the value

– By establishing analytics as a true business discipline, banks can grasp the enormous potential.

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More insights

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 - McKinsey Quarterly

A CEO action plan for workplace automation

– Senior executives need to understand the tactical as well as strategic opportunities, redesign their organizations, and commit... to helping shape the debate about the future of work.
Report - McKinsey Global Institute

How artificial intelligence can deliver real value to companies

– 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.
Article

Applying analytics in financial institutions’ fight against fraud

– Using data along with other cutting-edge tools can help organizations make better decisions and step up efforts to monitor fraudulent... transactions.
Article

The heartbeat of modern marketing: Data activation and personalization

– Technology has finally advanced to the point where marketers can use real-time data in a way that is both meaningful to customers... and profitable for companies.
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.
Article

Moneyball for engineers: What the semiconductor industry can learn from sports

– R&D leaders can boost productivity by using advanced analytics to create stronger, faster engineering teams.
Article

Unlocking the power of data in sales

– Analytics plays an increasingly important role in B2B sales—and high-performing sales organizations take it to a new level... to differentiate themselves from the also-rans.
Report - McKinsey Global Institute

The age of analytics: Competing in a data-driven world

– Big data’s potential just keeps growing. Taking full advantage means companies must incorporate analytics into their strategic... vision and use it to make better, faster decisions.
Article

Using agile to accelerate your data transformation

– Data-management issues can undermine companies’ ability to create value from analytics. Some businesses are using agile principles... to make sure data are available when and where they are needed.
Article

How retailers can improve price perception—profitably

– New methodologies, powered by big data and advanced analytics, can help retailers attract value-conscious consumers without sacrificing... margins.

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