According to McKinsey's latest article, generative AI could add between $2.6 trillion and $4.4 trillion in value to various industries globally each year. The banking sector is expected to achieve potential annual profits of $200 billion to $340 billion, equivalent to 9% to 15% of operating profits. To adopt generative AI, banks need to implement change management in areas such as leadership alignment, accountability in business units, and value-centered use cases. To ensure success, the article outlines seven key dimensions, including strategic planning, talent, technology, data, and risk control.

McKinsey predicts that generative AI could increase global productivity by $2.6 trillion to $4.4 trillion annually over the next few years. Generative AI has the potential to automate high-income knowledge jobs, such as sales, marketing, and software development, on a large scale. AI automation is expected to initially take hold in wealthy countries, exacerbating the gap with countries like India that adopt it more slowly. Caution should be exercised regarding the potential impact of the rapid proliferation of AI technology on employment, taking into account risks such as algorithmic bias and data security.

Emirates NBD has announced a strategy to adopt generative artificial intelligence (AI) tools, with McKinsey assisting in designing and piloting AI use cases. Emirates NBD plans to leverage Microsoft's Github Copilot X and Microsoft 365 Copilot to drive automation and content generation.

Consulting giant McKinsey has launched an internal generative AI tool called Lilli. Lilli is a chat application developed by McKinsey that provides information, insights, data, and plans based on over 100,000 documents and interview records. Lilli's testing has yielded positive results, significantly reducing the time required for research and planning tasks.

The Reserve Bank of India has chosen McKinsey and Accenture solutions to develop an artificial intelligence and machine learning system to enhance regulation. The Reserve Bank of India is already using AI and machine learning technologies in its regulatory processes and now plans to scale up. Utilizing AI and machine learning technologies can enable real-time data reporting, effective data management, and dissemination.