McKinsey Talks Operations Generative AI in Operations: Capturing the value
Nov 27, 2023
Explore the game-changing potential of generative AI in operations, including automating complex processes, productivity boosts, system considerations, and successful integration. Discover the opportunities and challenges in product development, the rapid expansion of generative AI, scaling new technologies, and recommendations for bringing Gen AI to organizations.
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Generative AI Automates Management Work
- Generative AI can automate many collaboration and management tasks previously done by humans.
- McKinsey estimates ~50% of such activities and trillions in potential value across industries.
AI As A Co-Pilot In Product Development
- Generative AI acts as a co-pilot in product development, boosting productivity notably in software coding.
- Clients report up to ~50% productivity gains from machine-assisted code generation.
LLMs Grew Fast But Hallucinate
- Large language models power generative AI and have grown massively in scale and capability.
- Models can hallucinate, so outputs may be fluent but factually wrong without controls.