AI is the buzzword of our time, but did you know that only 1 out of every 10 artificial intelligence projects makes it out of the lab? From 2012 to 2021, organizations around the globe invested over $490 billion in AI, but the actual value of those investments has not yet been realized. To address these challenges and embed AI in real-time decision-making, McKinsey & Company announced the acquisition of Iguazio, an Israeli-based AI and ML expert. All of the Iguazio team will be joining McKinsey, and Iguazio will serve as the foundation for the first QuantumBlack (the AI arm of McKinsey) location in Israel.
It is said that after the rain, there’s always a rainbow. The rain is still falling out there, but bringing good news in such challenging times is always gratifying. We are excited to be supporting McKinsey’s first acquisition in Israel.