Tom Ellsworth

As our firm marks 100 years, we're operating in a moment shaped by rapid advances in AI that are transforming businesses and society.

A McKinsey spokesman said, just as we're partnering with clients to strengthen the organization, we're on our own journey to improve the effectiveness and efficiency of our own support functions.

Do you think this is consulting industry?

Do you think this is AI?

What do you think is going on here?

This is going to be the story of business for the next decade.

I mean, this is the single most important thing that people got to pay attention to is if you look across public markets, there's a couple of things that I find very interesting.

Companies that are talking about using AI are outperforming the companies that are not talking about using AI.

Why is that?

What does AI do?

Artificial intelligence.

You take superhuman intelligence and you apply it to a problem.

There was this great interview that I heard, and they said if you can verify something, you can automate it.

So what is McKinsey doing?

McKinsey creates reports, and it creates presentations, and it creates outcomes that they then suggest to people.

So as you look across all these public companies and also these consulting firms, et cetera, is all of the leaders are saying the same thing.

We are going to produce more revenue, but we are going to do it with less people.

What that means is that they are going to become more efficient companies.

If they become more efficient, they're more productive, lower cost, then that should mean that they are more profitable.

More profitable means they should be more valuable.