Applications and value of deep learning
McKinsey & Company analyzed more than 400 use cases across 19 industries and nine business functions. They provided insight into the areas within specific sectors where deep neural networks can potentially create the most value, the incremental lift that these neural networks can generate compared with traditional analytics
An analysis of more than 400 use cases across 19 industries and nine business functions highlights the broad use and significant economic potential of advanced AI techniques.
Artificial intelligence (AI) stands out as a transformational technology of our digital age—and its practical application throughout the economy is growing apace. For this briefing, Notes from the AI frontier: Insights from hundreds of use cases (PDF–446KB), we mapped both traditional analytics and newer “deep learning” techniques and the problems they can solve to more than 400 specific use cases in companies and organizations. Drawing on McKinsey Global Institute research and the applied experience with AI of McKinsey Analytics, we assess both the practical applications and the economic potential of advanced AI techniques across industries and business functions. Our findings highlight the substantial potential of applying deep learning techniques to use cases across the economy, but we also see some continuing limitations and obstacles—along with future opportunities as the technologies continue their advance. Ultimately, the value of AI is not to be found in the models themselves, but in companies’ abilities to harness them.
It is important to highlight that, even as we see economic potential in the use of AI techniques, the use of data must always take into account concerns including data security, privacy, and potential issues of bias.
BLOCKCHAIN HOLDS GREAT potential for improving payment systems, but for the moment that potential remains largely unrealised.read more
Algorithms automating repetitive legal tasks will allow lawyers to focus on pertinent legal issues while expanding their work portfolios.read more
From improving health care processes to predicting when you might need to go into the hospital, AI is improving many aspects of the way we obtain and pay for medical care. Most patients aren’t aware – yet – of what goes on to make AI a reality in health care.read more
Did the chicken you just buy at the supermarket have a nice life, roam free, and eat healthy grains? If you’re the kind of person who cares, Carrefour SA, the big France-based grocery chain, has the bird for you.read more
Steven Spielberg’s new film “Ready Player One” imagines a future where people live much of their lives in virtual reality. Do science fiction’s predictions of the future ever come true?read more
Blockchain technology can do more than underpin crypto-currencies—it could help save the Amazon rainforest by stopping so called “biopirates” from plundering its biological riches.read more
Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.
Antoine de Saint-Exupery