In an era where generative AI is permeating various sectors, even consulting firms are embracing its potential.
Consulting enterprises play a pivotal role by furnishing businesses with expert guidance backed by extensive industry research. Harnessing a robust reservoir of information, consultancy firms like McKinsey & Company are now leveraging AI to empower clients with streamlined access to their knowledge.
McKinsey recently launched Lilli, an AI-powered search tool designed to facilitate effortless access to the firm's extensive knowledge repository for both clients and consultants.
When posed with queries, Lilli promptly scans McKinsey's databases and extracts five to seven pertinent content pieces. The chatbot then compiles succinct summaries, incorporates relevant hyperlinks, and even identifies subject-matter experts, according to a press release by McKinsey.
Lilli gains its potency from McKinsey's wealth of resources, including over 40 curated knowledge sources, a repository of 100,000 documents and interview transcripts, and a global network of experts spanning 70 countries. By deploying Lilli, the firm effectively channels these rich resources into the hands of those who can benefit the most.
Erik Roth, a senior partner at McKinsey, highlighted, "Lilli aggregates our knowledge and capabilities in one place for the first time and will allow us to spend more time with clients activating those insights and recommendations and maximizing the value we can create."
Both clients and consultants played a pivotal role in piloting Lilli's development. This collaborative approach ensures that the AI chatbot serves the needs of both stakeholders, enabling them to harness the firm's knowledge for enhanced productivity in daily business operations.
The press release featured accounts from several McKinsey partners who have seamlessly integrated Lilli into their workflows. Applications range from prepping for client engagements and meetings to augmenting presentation readiness.
Adi Pradhan, an associate partner at McKinsey, elaborated, "I use Lilli to look for weaknesses in our argument and anticipate questions that may arise. I also use it to tutor myself on new topics and make connections between different areas on my projects."
McKinsey's commitment to Lilli's success is evident through the dedication of more than 70 experts steering its deployment. The firm envisions expanding Lilli's reach across the enterprise to encompass thousands of colleagues by year-end.
While numerous enterprises are opting to construct custom generative AI models, this strategy empowers them to tailor language models to precise business needs, offering data protection for sensitive company information.