McKinsey announced a strategic collaboration with Cohere, a developer of enterprise AI platforms and large language models (LLMs). McKinsey and Cohere will harness the power of generative AI—the ability of machines to create and use human language—to drive clients’ business performance through tailored end-to-end solutions.
The collaboration will be led by QuantumBlack, AI by McKinsey, the firm’s AI arm, with thousands of practitioners including data engineers, data scientists, product managers, designers, and software engineers.
McKinsey and Cohere will help organizations integrate generative AI into their operations, redefine business processes, train and upskill workforces, and use this emerging technology to tackle some of the toughest current challenges.
“Every client context, use case, and organization is unique, but they are all looking for the right generative AI solution tailored for their needs to address privacy, IP protection, and cost,” says Ben Ellencweig, a McKinsey senior partner and global leader of alliances and acquisitions for QuantumBlack. “Together with Cohere, we are excited to launch secure, enterprise-grade generative AI solutions for our clients, moving from discussing productivity and growth opportunities to capturing value on the ground, day to day.”
“We are both independent and cloud-agnostic, meaning we are not beholden to any one tech company and empower enterprises to implement customized AI solutions on the cloud of their choosing, or even on-premises,” says Martin Kon, COO and president of Cohere. “Data privacy, data security, and customization are critical to creating strategic differentiation and real business value. McKinsey and Cohere share a vision of partnering closely with clients, using AI to transform businesses, and prioritizing responsible and data-secure implementation of this technology.”
McKinsey and Cohere are also developing a generative AI solution to help a company improve its product development by bringing together product requirements and past designs to optimize the creation of future designs. The process will ensure that new product plans are fully informed by existing product specifications and insights, shortening time to market, and producing significant savings.
