Analytics Insights

Visualizing the uses and potential impact of AI and other analytics

Notes from the AI frontier: Applications and value of deep learning

April 2018— An analysis of more than 400 use cases across 19 industries and nine business functions highlights the broad use and significant economic potential of advanced AI techniques.

Artificial intelligence

Podcast - McKinsey Quarterly

The real-world potential and limitations of artificial intelligence

– Artificial intelligence has the potential to create trillions of dollars of value across the economy—if business leaders work to understand what AI can and cannot do.
Commentary - McKinsey Quarterly

The economics of artificial intelligence

– Rotman School of Management professor Ajay Agrawal explains how AI changes the cost of prediction and what this means for business.
Interactive

An executive’s guide to AI

– To stay at the forefront of the accelerating artificial-intelligence race, business executives can study up on the ABCs of AI... using this interactive.
Article - McKinsey Quarterly

Will artificial intelligence make you a better leader?

– Agile leadership and AI both depend on learning to let go.
Article - McKinsey Quarterly

What AI can and can’t do (yet) for your business

– Artificial intelligence is a moving target. Here’s how to take better aim.

Data strategy

Report

Achieving business impact with data

– The best analytics are worth nothing with bad data. The importance of understanding and working on all components of the insights... value chain is mission critical.
Survey

Fueling growth through data monetization

– A new survey finds that many companies are launching data-focused businesses. But few have achieved significant financial impact,... which requires the right combination of strategy, culture, and organization.
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.

Organizing for analytics

Discussion Paper - McKinsey Global Institute

Skill shift: Automation and the future of the workforce

– Demand for technological, social and emotional, and higher cognitive skills will rise by 2030. How will workers and organizations... adapt?
Article

Ten red flags signaling your analytics program will fail

– Struggling to become analytics-driven? One or more of these issues is likely what’s holding your organization back.
Article

Breaking away: The secrets to scaling analytics

– A handful of the world’s companies have cracked the code on embedding analytics into every layer of their organizations.
Article - Harvard Business Review

Analytics translator: The new must-have role

– The search for vital analytics talent has often focused on data scientists. In this article for Harvard Business Review,... we describe the overlooked analytics role that’s even more critical to fill.

Featured publications

Collection

Crossing the frontier: How to apply AI for impact

Cut through the noise around artificial intelligence with this collection of our latest thinking on where and how best to use AI in your organization.
Collection

Analytics comes of age

Analytics and artificial intelligence are reshaping organizations and the entire business landscape. Learn how to capture the value by embedding them in your business.

Expert views

Interview - McKinsey Quarterly

A view from the front lines of baseball’s data-analytics revolution

– In the second of a two-part interview, Houston Astros general manager Jeff Luhnow describes how analytics has changed baseball—from Moneyball in 2003 to the last out of the 2017 World Series.
Interview - McKinsey Quarterly

How the Houston Astros are winning through advanced analytics

– In the first of a two-part interview, the architect of last year’s World Series champions shares how analytics, organization,... and culture combine to create competitive advantage in a zero-sum industry.
Video

Competing in the AI economy: An interview with MIT’s Andrew McAfee

– AI has arrived, but are companies ready for it? According to an MIT scientist, executives are underestimating the speed, scope,... and scale of the disruption it will bring.
Video

AI is open for business: An interview with PayPal COO Bill Ready

– Cloud platforms have begun democratizing artificial intelligence, ushering in a new wave of AI innovation.
Video

The role of education in AI (and vice versa)

– Princeton’s head of computer science, Jennifer Rexford, explains how artificial intelligence is set to change not only what... teachers teach but how they teach.

INDUSTRY PERSPECTIVES

Article

Insurance 2030—The impact of AI on the future of insurance

– The industry is on the verge of a seismic, tech-driven shift. A focus on four areas can position carriers to embrace this change.
Article

How advanced analytics can benefit infrastructure capital planning

– Asset owners are lagging behind other industries in data analytics. Now’s the time to get going.
Article

Fueling utility innovation through analytics

– Utilities around the world are making big investments in advanced analytics. Getting the full value, however, requires rethinking... their strategy, culture, and organization.
Article

The trillion-dollar prize: Plugging government revenue leaks with advanced analytics

– Few fiscal opportunities are bigger than reducing revenue leakages from tax and payment abuse. Now, new sources of data and new... analytics tools are giving governments the upper hand.
Report

Accelerating the car data monetization journey

– Capturing value from vehicle data will require players in the automotive ecosystem to approach the issue strategically and to... overcome the three main challenges that 60-plus executives identified in our proprietary survey and industry roundtables.

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More insights

Article - McKinsey Quarterly

AI’s growing impact

– Smart machines are giving storytellers and risk managers alike a helping hand.
Podcast - McKinsey Global Institute

How can business leaders, policy makers, and individuals prepare today for the jobs of tomorrow?

– Zoë Baird and Tim O’Reilly share their perspectives on the disruptive impact that automation and artificial intelligence... will have on society, and their advice for what we need to do today to smooth the transition.
Interactive - McKinsey Global Institute

Visualizing the uses and potential impact of AI and other analytics

– This interactive data visualization shows the potential value created by artificial intelligence and other analytics techniques... for 19 industries and nine business functions.
Article

Harnessing the power of advanced analytics in transmission and distribution asset management

– Advanced analytics is helping T&D operators improve performance, reduce asset-management costs, and capture value. Here’s... how successful utilities approach the transition.
Article

Artificial intelligence: Construction technology’s next frontier

– Engineering and construction is behind the curve in implementing artificial intelligence solutions. Based on extensive research,... we survey applications and algorithms to help bridge the technology gap.
Report

How do emerging technologies affect the creative economy?

– Research suggests some ways artificial intelligence, augmented reality, virtual reality, and blockchain are reshaping creative... work.
Video - McKinsey Global Institute

How artificial intelligence and data add value to businesses

– Artificial intelligence will transform many companies and create completely new types of businesses. The cofounder of Coursera,... AI Fund, and Landing.AI shares how businesses can benefit.
Podcast - McKinsey Global Institute

How will automation affect jobs, skills, and wages?

– As the nature of work changes with automation, millions of people may need to switch occupations and acquire new skills.
Interview - McKinsey Quarterly

Digitizing dairy in China

– The CEO of China’s second-largest dairy company describes how data and artificial intelligence are shaking up how he does... business.
Article

The need for speed: Capturing today’s fashion consumer

– Top performers are using data analytics and consumer insights to stay ahead of the pack.
Article

A new posture for cybersecurity in a networked world

– As the dangers mount, current approaches aren’t working. Cyberrisk management needs a root-and-branch overhaul.
Article

Advanced analytics: Poised to transform Asian companies

– Executives in Asia are increasingly aware of the tremendous impact that advanced analytics could have on their organization. Now... they must take concrete steps to adopt these technologies.
Article

Improving the effectiveness of tax collection: $30 in additional revenue for every $1 spent?

– An analysis of OECD countries’ expenditure on tax-collection effectiveness suggests high returns on investment.
Commentary

Supporting job growth and worker prosperity in a new era of automation

– With the advent of advanced automation, governments have a critical role to play in responding to workforce transitions.
Article

Boosting your sales ROI: How digital and analytics can drive new performance and growth

– Successful sales leaders use four principles to tailor digital and analytical tools to their companies’ unique needs.
Article

Using advanced analytics to boost productivity and profitability in chemical manufacturing

– Digital holds major promise for chemical companies, and employing advanced analytics in manufacturing presents some of the earliest-accessible... and largest opportunities.
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