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McKinsey: What Every CEO Should Know About Generative AI

Whether you’re a government leader or a senior executive in the private sector, it’s imperative to gain at least a conversational understanding of Generative AI — the core technology behind tools like ChatGPT and Google’s Bard, as well as AI-powered tools from Salesforce, Microsoft, Amazon, Bloomberg, and other industry leaders.  The U.S. government is moving quickly to establish whole-of-government AI approaches and policies, even as individual agencies are – by necessity — having to provide guidance to employees about the use of Generative AI technologies and the resulting intellectual property.

McKinsey has published an easy-to-read primer titled “What Every CEO Should Know About Generative AI,” which is freely accessible on the company’s website.

From the report’s introduction:

The goal of this article is to help CEOs and their teams reflect on the value creation case for generative AI and how to start their journey. First, we offer a generative AI primer to help executives better understand the fast-evolving state of AI and the technical options available. The next section looks at how companies can participate in generative AI through four example cases targeted toward improving organizational effectiveness. These cases reflect what we are seeing among early adopters and shed light on the array of options across the technology, cost, and operating model requirements. Finally, we address the CEO’s vital role in positioning an organization for success with generative AI.

The report was prepared by experts from the McKinsey Technology Council and QuantumBlack, AI by McKinsey, which are both part of McKinsey Digital.

Info Byte Source: McKinsey.com

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