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Posts Tagged ‘McKinsey’

What AI can and can’t do (yet) for your business

Posted by hkarner - 14. Januar 2018

Artificial intelligence is a moving target. Here’s how to take better aim.
Artificial intelligence (AI) seems to be everywhere. We experience it at home and on our phones. Before we know it—if entrepreneurs and business innovators are to be believed—AI will be in just about every product and service we buy and use. In addition, its application to business problem solving is growing in leaps and bounds. And at the same time, concerns about AI’s implications are rising: we worry about the impact of AI-enabled automation on the workplace, employment, and society.

A reality sometimes lost amid both the fears and the headline triumphs, such as Alexa, Siri, and AlphaGo, is that the AI technologies themselves—namely, machine learning and its subset, deep learning—have plenty of limitations that will still require considerable effort to overcome. This is an article about those limitations, aimed at helping executives better understand what may be holding back their AI efforts. Along the way, we will also highlight promising advances that are poised to address some of the limitations and create a new wave of opportunities.

The whole report: What-AI-can-and-cant-do-yet-for-your-business(1)

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Pakistan is home to the most frenetic education reforms in the world

Posted by hkarner - 9. Januar 2018

Date: 08-01-2018
Source: The Economist

Reformers are trying to make up for generations of neglect

EVERY three months, Shahbaz Sharif, the chief minister of Punjab, gathers education officials around a large rectangular table. The biggest of Pakistan’s four provinces, larger in terms of population (110m) than all but 11 countries, Punjab is reforming its schools at a pace rarely seen anywhere in the world. In April 2016, as part of its latest scheme, private providers took over the running of 1,000 of the government’s primary schools. Today the number is 4,300. By the end of this year, Mr Sharif has decreed, it will be 10,000. The quarterly “stocktakes” are his chance to hear what progress is being made towards this and other targets—and whether the radical overhaul is having any effect.

For officials it can be a tough ride. Leaders of struggling districts are called to Lahore for what Allah Bakhsh Malik, Punjab’s education secretary, calls a “pep talk”. Asked what that entails, he responds: “Four words: F-I-R-E. It is survival of the fittest.” About 30% of district heads have been sacked for poor results in the past nine months, says Mr Malik. “We are working at Punjabi speed.” Den Rest des Beitrags lesen »

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The new engine of change: CEOs

Posted by hkarner - 17. Dezember 2017

McKinsey Quarterly, Dec. 2017

Perhaps the most unique aspect of this technology trend is that digital transformation is being driven from the top, personally mandated by the CEO. This is something new.

In the past 70 years of computing, the world advanced from the vacuum tube to the transistor to the semiconductor, from mainframe computing to minicomputing to personal computing to the Internet. Software evolved from bespoke custom programming to on-premises, packaged enterprise application software and then to software as a service (SaaS)—cloud-resident solutions. Among the fruits: increased productivity and profitability, a lower cost of operation, and economic growth.

I witnessed many of these tech-adoption cycles over the past 30 years. With the promise of performance improvements and productivity increases, such innovations were introduced to industry through the IT organization. Over months or years, and after multiple trials and evaluations, each gained the attention of the chief information officer, who was responsible for technology adoption. The CEO was periodically briefed on the cost and result. Den Rest des Beitrags lesen »

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Where is technology taking the economy?

Posted by hkarner - 5. Oktober 2017

This is a „must read“ for everybody who wants to understand the impact of technology on the economy and society. Very thoughtful! (hfk)

Date: 05-10-2017
Source: www.mckinsey.com By W. Brian Arthur

W. Brian Arthur is an external professor at the Santa Fe Institute and a visiting researcher at the System Sciences Lab at PARC (a Xerox company).

We are creating an intelligence that is external to humans and housed in the virtual economy. This is bringing us into a new economic era—a distributive one—where different rules apply.

A year ago in Oslo Airport I checked in to an SAS flight. One airline kiosk issued a boarding pass, another punched out a luggage tag, then a computer screen showed me how to attach it and another where I should set the luggage on a conveyor. I encountered no single human being. The incident wasn’t important but it left me feeling oddly that I was out of human care, that something in our world had shifted. Den Rest des Beitrags lesen »

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Studie: Computer übernehmen bis zu 30 Prozent der Banker-Arbeit

Posted by hkarner - 25. Juli 2017

Experten sind sich aber nicht einig, wie sich die Technologisierung im Bankenbereich auf die Mitarbeiterzahlenauswirken werde.

Neue Technologien dürften bei den Investmentbanken Einzug halten und vielen der traditionellen Angestellten rund ein Drittel ihrer derzeitigen Arbeit abnehmen. Das geht aus einer Studie von McKinsey & Co. hervor. Der Wandel, der an der Wall Street bereits zu Sorgen über einen Verlust von Stellen führt, wird demnach möglicherweise nur ein paar Jahre benötigen.

Kognitive Technologien – also Programme oder Maschinen, die Aufgaben ausüben, bei denen einst das menschliche Gehirn unerlässlich war – sind inzwischen billig genug, damit Banken sie breit in Bereichen wie etwa dem Handel einsetzen können. Automatisierte Prozesse werden laut McKinsey „Kapazitäten freisetzen“ und es Mitarbeitern ermöglichen, sich auf Aufgaben mit höherem Wert zu konzentrieren. Dadurch würden unter anderem neue Ideen entstehen.  Den Rest des Beitrags lesen »

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Find Out If a Robot Will Take Your Job

Posted by hkarner - 21. April 2017

Date: 20-04-2017
Source: TIME

At a community college in upstate New York, 12 cafeteria workers recently learned that they will lose their jobs — and be replaced by self-serve machines. It’s an issue that has played out in communities across the country, as robots get better and better at doing jobs — from taking fast food orders to mining coal — that once belonged to humans.

Is your job next? The answer to that question is complicated, according to a report by management consultant McKinsey, but most workers don’t need to worry. Experts found that less than 5% of jobs can be completely replaced by technology, though nearly every job involves tasks that robots could learn to do.
Enter your occupation below to see how much of your work may someday be done by machines.

Jobs with predictable activities in structured environments are the easiest to replicate with robots, a process known as automation. McKinsey estimates that 51% of all job-related activities in the U.S. economy fit this description, largely in manufacturing, food service and retail trade sectors. Den Rest des Beitrags lesen »

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Technology Will Help—And Hurt—Bank Results, Studies Say

Posted by hkarner - 20. Januar 2017

Date: 19-01-2017
Source: The Wall Street Journal

Fees, consumer banking and lending could drop by more than 10% in the U.S. by 2020, but new tech is also a way to avoid future profit collapses

One new study argues that up to $45 billion of bank profits could be wiped out by 2020 thanks to encroaching automation.

Some banks may be turning big profits this quarter. But they will have to spend a lot of money in a gamble to stay profitable as technology encroaches, according to new set of studies.

McKinsey & Co., in a report this week, argues that up to $45 billion of bank profits could be wiped out by 2020 thanks to encroaching automation, ranging from electronic trading to mobile banking. Den Rest des Beitrags lesen »

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Wie McKinsey an der Flüchtlingskrise verdient

Posted by hkarner - 28. Oktober 2016

28.10.2016 | 18:03 |  (DiePresse.com)

Das Beratungsunternehmen hat einem Medienbericht zufolge mehr als 20 Millionen Euro vom deutschen Staat kassiert.

Für seine Beratungsleistung in der Flüchtlingskrise hat das Unternehmen McKinsey laut einem „Spiegel“-Bericht mehr als 20 Millionen Euro von Deutschland erhalten.

  • Seit Herbst 2015 kassierte das Beratungsunternehmen 15,5 Millionen Euro für Aufträge des Bundesamts für Migration und Flüchtlinge (Bamf), wie der „Spiegel“ am Freitag unter Berufung auf die Behörde berichtete.
  • Hinzu kommen nach Angaben der Bundesagentur für Arbeit (BA) 4,96 Millionen Euro für die Unterstützung eines gemeinsamen Arbeitsstabs von Bamf und BA. Den Rest des Beitrags lesen »

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Five things Bill Gates gets right on energy

Posted by hkarner - 24. Juli 2016

Date: 24-07-2016Nyquist CC

Source: www.mckinsey.com By Scott Nyquist

And one I’m not so sure about.

There’s a saying that where you stand depends on where you sit. When it comes to energy, that holds true. For example, while I am an energy guy in general, I have spent much of my time in oil and gas. That colors how I see the future (and the present, for that matter). People who are deep into solar almost certainly have a different perspective. A mother in Africa cooking over a wood-burning stove might have a third. And a coal miner in West Virginia yet another.

Finding a consensus about what to do next and how, then, becomes difficult. And that is one reason why I find Bill Gates an interesting voice on energy issues. Having spent his life in IT and philanthropy, his views do not fit into a single box—and are all the more refreshing for that. He does have skin in the game. In 2015, he founded a $1 billion clean-energy fund, the Breakthrough Energy Coalition, which is devoted to research and development on clean energy. He also has been active on issues related to climate change and nuclear power. Den Rest des Beitrags lesen »

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What CEOs are reading

Posted by hkarner - 18. Juli 2016

McKinsey Quarterly, July 2016

Leaders of some of the world’s biggest organizations reveal which books will keep them occupied in the coming months.

The slightly lazier days of summer are upon the northern hemisphere, with beach vacations beckoning. South of the equator, temperatures are dipping and cozy weekends lie ahead. So what books will corporate leaders be reading in the coming months? Here are recommendations from more than a dozen, including McKinsey’s Dominic Barton, JPMorgan Chase’s Jamie Dimon, LinkedIn’s Reid Hoffman, and Corning’s Wendell Weeks. It’s an eclectic list of fiction and nonfiction, spanning everything from classics to newcomers, business topics to biographies and folk tales.

Dominic Barton, McKinsey

Dominic Barton

In his three decades with the management-consulting firm, Dominic has worked with companies across a range of industries, including banking, consumer goods, and high tech. He led McKinsey’s Korea office from 2000 to 2004 and was the Shanghai-based Asia chairman from 2004 to 2009 before becoming global managing director.

The Black Prince of Florence: The Spectacular Life and Treacherous World of Alessandro de’ Medici—Catherine Fletcher (Bodley Head, 2016; nonfiction)

The European Identity: Historical and Cultural Realities We Cannot Deny—Stephen Green (Haus Publishing, 2016; nonfiction)

China’s Mobile Economy: Opportunities in the Largest and Fastest Information Consumption Boom—Winston Ma (John Wiley & Sons, 2016; nonfiction)

The Seventh Sense: Power, Fortune, and Survival in the Age of Networks—Joshua Cooper Ramo (Little, Brown and Company, 2016; nonfiction)

Carl Bass, Autodesk Den Rest des Beitrags lesen »

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