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What does it take to succeed with digital and AI?

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Views on digital innovation

In the news

•

AI’s many flavors. With generative AI (gen AI) advancing so rapidly, picking the right tool isn’t always easy, the Wall Street Journal reports. Some models excel at processing documents, while others handle large amounts of data well. One platform, for instance, can take in ten textbooks’ worth of content per query, according to an AI expert. Organizations can also develop custom AI tools in-house or through a vendor. Adapting open-source large language models can be a cost-effective way to do so. [WSJ]

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‘A marketer’s dream.’ The Financial Times notes that AI is revolutionizing the advertising industry, promising hyper-personalized ads at scale. Because of AI, marketing campaigns that might have once taken hundreds of hours can now be completed more quickly and affordably. Some agencies are investing heavily in AI, touting the technology’s ability to enhance creative work. Other industry leaders, however, caution that an overreliance on AI could lead to job displacement. [FT]

We estimate that about $30 trillion in corporate revenues will arise from products that have not yet reached the market.

On McKinsey.com

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‘Rewiring’ companies. As gen AI sweeps through the business world, new developments regularly appear in the news. The technology’s potential to change how people live and work is profound. Yet the buzz surrounding gen AI may distract business leaders from other vital goals. After all, long-term success with digital transformation comes when leaders “rewire” their companies—changing their talent, operating model, and technical capabilities to support continuous innovation, McKinsey senior partner Kate Smaje and McKinsey Digital leader Rodney Zemmel explain.

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Ten ideas. To help businesses focus on delivering value, McKinsey has identified ten ideas that might not be in the headlines but are nonetheless shaping modern business. For instance, the idea that “builders are eating the world” reflects how important it is for business leaders to skillfully use software to build things. (Some 70% of digital-transformation leaders are already developing their own software in areas that drive competitive advantage.) Explore ten ideas related to digital and AI that are affecting business.

Discover key digital ideas

—Edited by Belinda Yu, editor, Atlanta

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What does it take to succeed with digital and AI?

Views on digital innovation

In the news

We estimate that about $30 trillion in corporate revenues will arise from products that have not yet reached the market.

On McKinsey.com