McKinsey’s CFO Guide to Gen AI: Does it Matter, What is the Risk, and What Should You Do?

In this presentation, Solly Brown Partner at McKinsey + QuantumBlack – contributor to McKinsey’s “CEO guide to GenAI”, discusses the potential impact of generative AI and its applications in various business functions. Quantumblack is McKinsey’s AI, and highlighted its roots in Formula One analytics. The central question addressed was whether generative AI is just hype or if there is substantial value. Generative AI is distinct from other technologies and could have a significant impact, citing Bill Gates’ challenge to OpenAI as evidence.

Solly highlights three key points in relation to AI: impact potential, capturing opportunities, and the role of CFOs in the context of generative AI. He identifies content synthesis, creative content generation, and customer engagement as primary application areas, highlighting generative AI’s broad impact across industries. Analytical AI’s value in predictions and forecasts is also underscored. McKinsey’s research supports the notion of generative AI’s incremental impact.

The need for…