McKinsey Accelerates Generative AI Adoption with Iguazio Platform
Almost eighteen months have elapsed since OpenAI introduced the popular application ChatGPT. Gen AI, general-purpose, generative AI, indeed possesses certain characteristics; however, most firms struggle to materialize tangible value. The company has chosen to leverage its AI arm, QuantumBlack, to accelerate meaningful AI adoption by taking advantage of the strength provided by MLOps company Iguazio, which it purchased in 2023, to develop gen AI pilot projects and close the gap towards large-scale deployment and efficiency.
Generative AI is becoming the focal point for most businesses looking forward to harnessing its power in customer service, content generation, and data analysis.
However, most organizations have found out that the first POCs very rarely lead to practical and deployable AI operations. According to Asaf Somekh, co-founder, and CEO of Iguazio, "Gen AI made it easier to build POCs, but much harder to move them to production, thus widening the gap between potential and actual business value."
Role of Iguazio in Scaling AI Adoption
After its integration into McKinsey's QuantumBlack, the Iguazio platform has become a go-to solution for any organization looking to accelerate its generative AI program. As part of McKinsey's broader QuantumBlack Horizon, the Iguazio platform addresses two core concerns for businesses: scalability and governance.
The challenge of scaling remains a significant limitation for organizations that transition from experimental phases to full-blown enterprise AI implementations. The Iguazio platform better facilitates the effective scaling of generative AI applications in the cloud through streamlined services for computational resources and AI infrastructure, including Nvidia's graphics processing units. This has the effect of saving money and allowing engineers to automate and track infrastructure management better. For example, code generated for information extraction can be converted into reusable microservices, which promotes efficiency across different projects.
In conjunction with its scaling capabilities, Iguazio offers governance features designed to promote the responsible deployment of generative AI tools. These "guardrails" encompass monitoring systems that address data privacy, compliance requirements, and potential AI-related risks, including biased results and AI-generated hallucinations. Considering the regulatory environment prevalent in sectors such as financial services and telecommunications, Iguazio's sophisticated data lineage and tracking functionalities provide essential support for risk management.
QuantumBlack's Extended AI Ecosystem
Iguazio integration into QuantumBlack has enabled McKinsey to be very effective in delivering a whole AI product. According to Ben Ellencweig, senior partner at McKinsey, "The combination of Iguazio's platform, McKinsey's strategy and consulting expertise, and our gen AI ecosystem of tech partners provides the full range of solutions for our clients as they harness the power of gen AI."
McKinsey will focus on moving from prototypes to mass production in 2024. Companies that have thus far failed with initial limited success now have a choice to use Iguazio for consolidation of their data science functions, centralizing the management of data, and efficiently scaling generative AI applications across different lines of business.
Responsible AI: Building Guardrails for the Future
A core benefit of the Iguazio AI platform is also its responsible approach to artificial intelligence. Because most companies will be adopting generative AI in their business processes and practices, the risks of misuse of such capability, in terms of copyright infringement, data breach risks, and generation of incorrect outputs, remain the top hazards. The Iguazio platform helps mitigate these risks since governance frameworks are directly built into AI workflows, ensuring that the AI system is constantly monitored for compliance and for being in operation in alignment with ethics.
According to Ellencweig, "2024 is the year of scaling gen AI responsibly," further adding that "with Iguazio, we provide a safety net for companies to innovate without falling into the traps of data mismanagement or biased AI decisions."
A New Generation for AI Adoption
As organizational leaders progressively seek the expertise of McKinsey to fully leverage the capabilities of generative AI, Iguazio assumes a crucial position in fostering innovation alongside the implementation of comprehensive risk management strategies.
The adaptability of the platform—whether utilized in on-premises environments or via public and private cloud setups—enables entities across diverse sectors to adopt AI solutions tailored to their specific requirements. In such a complex environment, the AI ecosystem of McKinsey is a model for creating quantifiable and sustainable business value for organizations that effectively make their way in the complex environment. Now, as the first phase of generative AI, this was the year of experimentations.
However, 2024 will be the year that will see enterprises go from conceptual frameworks to actual implementation at scale. Showcased through the partnership between McKinsey and Iguazio, how artificial intelligence can be a potent force when applied along with the right tools and governance framework. As enterprises look back on the AI experimentation phase, many will appreciate how far they've come. For those still struggling to turn gen AI into a business asset, McKinsey’s integrated approach offers a clear path forward.
