“Last year alone, McKinsey saved 1.5 million hours by using AI for search and synthesis, tasks Sternfels says AI models excel at. He also emphasized the growing role of AI agents. McKinsey now has 25,000 of them, which have generated 2.5 million charts in the past six months. By offloading routine, time-consuming work, consultants are able…
Tag: McKinsey
JPMorgan Chase’s Derek Waldron on building an AI-first bank culture – McKinsey
“Prioritizing focus matters because many institutions end up in proof-of-concept [POC] he##, with more pilots than American Airlines. They start many projects but don’t get them to production, so there’s no significant economic difference. What’s most effective is to look at core workflows important to your economics. If you’re an automotive firm, that might be…
The end of inertia: Agentic AI’s disruption of retail and SME banking (McKinsey)
“Two revenue ‘engines’ —credit cards and deposits—are especially exposed. Both rely heavily on customer inertia and brand familiarity. But AI agents won’t care about brand loyalty. They will optimize for outcomes. When logic, not habit, drives product selection, the rules will change… A simple voice request—‘Hey SaveBot, please maintain my checking-account balance at $1,000 and…
Ai Weekly – Jan 5
The Future of Banking is Personal Read more >> The Product Manager’s Playbook for AI Success in Regulated Industries “At JPMorgan Chase, the deployment of its AI-powered Contract Intelligence (COIN) platform highlights how compliance-first strategies can deliver significant results. By involving legal teams at every stage and building explainable AI systems, the company improved operational…
To centralize or not to centralize: generative AI in banking (McKinsey & Company)
“The right operating model should both enable scaling and align with the company’s organizational structure and culture, but how centralized should it be? For several reasons, McKinsey’s Kevin Buehler, Larry Lerner, and coauthors say that a high degree of centralization is best: ‘About 70 percent of banks and other institutions with highly centralized gen AI operating models have progressed…