McKinsey has expanded its Gen AI platform (powered by Iguazio) to offer enterprises a consolidated, software-based approach to building, implementing, scaling, and governing Gen AI solutions.
Some implementations of gen AI tools like chatbots and virtual agents have produced embarrassing and dangerous results. So ambitious leaders are eager to move beyond the thousand flowers bloom Gen AI phase.
Since McKinsey acquired leading AI and machine learning operations company Iguazio last year, the platform has been integrated into the firm’s AI arm QuantumBlack – which is dedicated to driving innovation and experimentation in AI. And Iguazio offers a software-based platform grounded in data science principles to help organizations develop, deploy, and manage Gen AI solutions.
The platform — part of QuantumBlack Horizon, McKinsey’s suite of AI development tools — addresses enterprises’ two biggest challenges when advancing from Gen AI proofs of concept to live implementations within business environments.
1.) Scaling – Gen AI operations (gen AI ops) enable for efficient and effective implementation and scaling of gen AI applications
2.) Governance – Gen AI guardrails mitigate risk by directing essential monitoring, data privacy, and compliance activities
The platform promotes the efficient use of infrastructure such as cloud services and computing power by automating many tasks for engineers. And AI infrastructure components such as Nvidia’s graphics processing units (GPUs) can be shared across projects, helping keep costs down and make the most efficient use of resources. And the code written to extract data could be converted into managed microservices and reusable components to support a wide range of data extraction processes across the enterprise.
As organizations expand their reliance on Iguazio, additional benefits become apparent, including the ability to orchestrate and unify the data science process across teams and centrally integrate and manage data from different sources.
The Iguazio platform is versatile and can be deployed on-premises and in public, private, and hybrid configurations includes advanced data lineage, tracking, and privacy features required in highly-regulated industries like financial services and telecommunications; and can be used with a range of large language models.
For ensuring the responsible use of Gen AI, the Iguazio platform helps forestall risks including data breaches, biased results, AI hallucinations, noncompliance with regulations, and intellectual property infringements. If left unchecked, then these risks could damage reputation, lead to financial losses, or worse. Built-in guardrails at each stage of development prevent pervasive risks from creeping into solutions and serve as an effective governance framework.
KEY QUOTES:
“Gen AI made it easier to build POCs (proofs of concept), but much harder to move them to production, widening the gap between potential and actual business value. With the Iguazio platform, we bridge that gap, helping organizations embed gen AI efficiently into their business processes and applications.”
- Asaf Somekh, co-founder and CEO of Iguazio
“When McKinsey acquired Iguazio last year, we did it knowing we could quickly integrate its offering into our core QB technology offer to the benefit of enterprises interested in building out robust—and safe—gen AI functionality at scale. 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. If 2023 focused on gen AI pilots and experimentation, 2024 is all about production at scale, and Iguazio plays a critical role in achieving that”
- Ben Ellencweig, senior partner
