TWIC Original - The Impact of Generative AI

Wednesday, January 17 2024

This week in
Consulting

Embracing the Future with Generative AI

Editorial

Hey there, fellow enthusiasts of the consulting world! Welcome to another riveting edition of This Week in Consulting. Today, we’re diving headfirst into the mind-blowing universe of Generative AI, a game-changer that’s turning industries upside down faster than you can say “innovation.”

Let me tell you, McKinsey’s latest estimates are nothing short of mind-boggling. We’re talking about a potential annual boost of $2.6 trillion to $4.4 trillion across 63 different use cases.

Capgemini’s report adds more fuel to the generative AI fire, revealing that 96% of organizations worldwide consider it a strategic priority.

From customer service to wealth management, and even the realm of marketing, generative AI is doing a tap dance on traditional norms. The lofty promise? Streamlining creativity and serving up hyper-personalized content on a grand scale. But, as Uncle Ben said to Spider-Man, “With great power comes great responsibility.”

And speaking of responsibility, let’s not forget where human intelligence stands in this whirlwind of AI adoption. We’ve got strategies and guidelines for human-centric scaling and sustainable development. It’s not about man versus machine; it’s about finding a harmony that propels us forward.

So, grab your metaphorical diving gear, and let’s take a deep dive into this week’s articles. Share your thoughts because, in this AI-powered world, your voice matters. Let’s sail these uncharted waters together and see where the winds of Generative AI take us.

Laurent THOMAS

Laurent THOMAS

Chairman Consulting Quest

This week’s must read

In this edition of This Week in Consulting, we plunge into the transformative realm of Generative AI. Unveiling strategies for its optimal adoption, we navigate risks with a human-first approach.

McKinsey explores the transformative power of generative AI, estimating its potential to add $2.6 trillion to $4.4 trillion annually across 63 use cases. Sectors like banking and high tech could see substantial revenue boosts, while workforce dynamics may undergo significant changes.

Michael Chui, Eric Hazan, Roger Roberts, Alex Singla, Kate Smaje, Alex Sukharevsky, Lareina Yee, and Rodney Zemmel, @McKinsey

This week’s media

Generative AI is revolutionizing marketing by streamlining creativity and enabling hyper-personalized content at scale. In this BCG video, Jessica Apotheker explores the possibilities of GenAI and provides insights on how to get started.

Thought Leadership

 

 

In this article by Cognizant, discover OpenAI’s generative AI, reshaping industries from customer service to wealth management. Explore its transformative potential, future implications, and the imperative considerations and strategies for businesses venturing into this paradigm shift.

Duncan Roberts, Naveen Sharma and Babak Hodjat, @Cognizant

 

 

Metyis leads the Generative AI revolution with $26B global investments. Transforming industries, it automates tasks, offers breakthrough applications, and addresses concerns. Metyis integrates big data expertise for a sustained global impact.

Robin Opdam, Max Verhoeven, Marcello Cacciato, and Louis de Cointet, @Metyis

 

 

 

This article by Publicis Sapient highlights ChatGPT’s record-breaking growth, emphasizing generative AI’s transformative impact on businesses. With benefits like flexibility and efficiency, businesses must navigate risks, emphasizing the crucial role of human oversight for successful integration.

Simon James, @Publicis Sapient

 

 

As per Capgemini’s report, generative AI is gaining traction globally, with 96% of surveyed organizations considering it a strategic priority. Executives, especially in high tech and manufacturing, anticipate significant disruption (21%) and 74% believe benefits outweigh risks. While efficiency gains of 7-9% are projected, environmental impact poses challenges. Strategic planning, guidelines, human-centric scaling, and sustainable development are crucial for successful generative AI adoption.

Robert Engels, Andreas Markdalen, Mark Roberts, Mark Oost, Ron Tolido, Steve Jones, Valérie PERHIRIN, Jerome Buvat, Marisa Slatter, Ramya Krishna Puttur, Sumit Cherian, Manisha Dash, and Vaishnavee A, @Capgemini

This week’s consulting news selection

 

Representing a major repositioning in the national government consulting market, Synergy Group and ThinkPlace Australia have announced that they have joined forces.|@Synergy Group

 

 

Anthesis, the largest group of dedicated sustainability professionals globally, announces a merger with Revolt, the global purpose strategy specialist group.|@Anthesis

 

 

Capital Consulting International (CCi), a Rimkus Company, announce the appointment of Thomas Murr as a Director in Western Australia.|@Capital Consulting International

 

 

MNP, one of Canada’s largest national professional services firms, announces that it will join forces with the chartered professional accounting firm, Lafond CPA Inc.|@MNP

Chairman and Co-founder at | + posts

Laurent is the Chairman and Co-founder of Consulting Quest. Focused on greater value creation, and being thoroughly familiar with Consulting, Laurent has sourced and sold millions of dollars worth of Consulting over the course of his career. Prior to joining Consulting Quest, Laurent was Executive Vice President Oil and Gas at Solvay and Senior Partner Transformation at Oliver Wyman.

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