It has been estimated that artificial intelligence techniques could generate an annual value of between $ 3.5 and $ 5.8 million in nine operational functions in 19 industries. AI will generate an additional value of USD 2.6T in marketing and sales and up to USD 2T in supply chain and manufacturing management. That will add $ 200 billion in value to Pricing & Promotion and $100 billion in customer service management in retail. McKinsey predicts that IA will have an impact of up to 11.6% on travel industry revenues and up to 10.2% on high tech. A European trucking company has reduced fuel costs by 15% by using AI to optimize delivery traffic, improve fuel efficiency and reduce delivery times. In 69% of use cases, AI and deep neural networks improved performance beyond what existing analytical techniques were able to provide.

These findings, along with many other fascinating discoveries and insights, are from a recent McKinsey Global Institute discussion paper titled Notes. Notes titled IA Border Notes: Information from hundreds of use cases, the discussion paper builds on MGI research and applied experience of the enterprise by artificial intelligence (AI) of McKinsey Analytics. The conclusions of the discussion paper are based on intensive MGI analyzes collected and integrated into more than 400 use cases in 19 industries and nine business functions.

The main conclusions of the working document are as follows:

•McKinsey estimates that artificial intelligence techniques could generate an annual value of between $3.5 and $5.8 million in nine business functions in 19 industries. The study equates to an added value of $3.5 to $5.8 billion, or about 40% of the overall annual impact of $9.5 to $15.4 billion that all analytical techniques could provide. The chart below compares the impact of AI in billions of dollars per Al impact as a percentage of the total impact from the analyses.

•In 69% of study use cases, AI and deep neural networks improved performance beyond what existing analytical techniques were able to provide. The travel, transportation and logistics, retail, automotive and assembly, high tech, oil and gas, and chemicals sectors are above average thanks to the contributions of Amnesty International.

•McKinsey predicts that AI will have an impact of up to 11.6% on travel industry revenues and up to 10.2% on high tech. The insurance sector will also see that Amnesty International will have a significant impact on its revenues, with retail trade recording the largest monetary impact.

AI will generate an additional value of USD 2.6T in marketing and sales and up to USD 2 T in supply chain and manufacturing management. McKinsey discovered that retail and high technology sectors are the best opportunities for AI in marketing and sales. The study cites frequent digital interactions between businesses and customers that generate larger datasets that support artificial intelligence techniques for performing analytics. The study team found that e-commerce platforms would be particularly useful because they would collect customer information, such as clicks or time spent on a web page, and then customize the information.

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