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Artificial Intelligence (AI): Forces awaken

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AI development could impact multiple industries

Health Care	Financials	Advertising & Digital Content	Retail & Freight	Energy & Industrials	Customer Service	Business Intelligence
Smart implants Medical imaging Pathology detection Personalized medicine Identify biomarkers New drug development Genomic data analysis Physician point of service tools	AI thematic fund offerings New trade pricing tools Generate client portfolio reviews Automated trade prices, execution AI portfolio management Increase trading velocity Product ideation & evolution	Market efficiency Enhanced ad targeting Recommendation engine Higher ad conversion Ad auction dynamics Content creation Customized travel itineraries Video game development	3D shopping & product try on Sidewalk robots for deliveries Supply chain efficiency Inventory management Demand prediction Truck routing capabilities Higher fleet utilization Autonomous fleet networks	AI tools for pipelines Geological models AI-enabled microgrid tools Energy usage analytics Energy trading enhancements Labor scheduling Reservoir optimization Leak detection & track emissions	Customer analytics Insurance claims and records Transcribe and summarize Client onboarding	Developer tools & assisted code AI-related consulting Integrated smart home interface Automate back- office tasks Fraud prevention and protection Cybersecurity capabilities Risk assessment & management Accelerated data analysis Predictive modeling

Source: McKinsey and Wells Fargo Investment Institute, as of June 30, 2024. Subject to change.

Key Takeaways

AI requires enormous amounts of data storage, computing power, and energy. The rapid growth in generative AI could transform the economy beyond the Information Technology sector through improved productivity across industries.

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