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Mckinsey

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McKinsey Scales AI Agents to About 25,000 Across a 60,000-Strong Workforce
business1 month ago

McKinsey Scales AI Agents to About 25,000 Across a 60,000-Strong Workforce

McKinsey & Company is rapidly embedding AI agents into its operations, aiming to have AI-enabled support across its 60,000-employee workforce (40,000 humans and roughly 20–25 thousand AI agents). CEO Bob Sternfels indicated the firm now has around 60,000 total staff, with AI agents numbering closer to 25,000, and he envisions every employee being “enabled by at least one” agent within 18 months. QuantumBlack leads the AI initiatives, and McKinsey’s business model is shifting toward AI-enabled, outcome-based client engagements as the industry broadly adopts generative AI to automate analysis, planning, and execution in consulting.

via Business Insider|
#ai-agents#business#consulting
McKinsey's CEO Pipeline: Building an Empire of Influence
business5 months ago

McKinsey's CEO Pipeline: Building an Empire of Influence

McKinsey has historically been a powerful incubator for future CEOs, with a vast alumni network occupying top corporate roles worldwide. The firm’s rigorous training, strategic relationships, and alumni engagement have created a self-reinforcing influence in global business. However, the rise of AI and changing leadership archetypes pose challenges to its traditional model, prompting McKinsey to adapt its talent development and value proposition to remain relevant in an AI-driven economy.

via Fortune|
#ai-transformation#alumni-network#business
McKinsey Settles Opioid Crisis Charges for $650 Million
business1 year ago

McKinsey Settles Opioid Crisis Charges for $650 Million

Consulting firm McKinsey has agreed to pay $650 million to settle charges related to its role in the US opioid crisis, where it allegedly conspired with Purdue Pharma to misbrand prescription drugs. The settlement includes a deferred prosecution agreement, requiring McKinsey to reform its practices. This follows previous settlements totaling nearly $1 billion over similar allegations. The opioid crisis has led to nearly 100,000 overdose deaths annually in the US.

via BBC.com|
#business#mckinsey#opioid-crisis
McKinsey Settles Opioid Case for $650 Million Amid Scrutiny
business1 year ago

McKinsey Settles Opioid Case for $650 Million Amid Scrutiny

McKinsey & Company has agreed to pay $650 million to settle federal civil and criminal investigations into its role in boosting opioid sales for Purdue Pharma, the maker of OxyContin. The settlement includes a deferred prosecution agreement, with McKinsey not admitting liability but agreeing to refrain from future work involving controlled substances. This marks the first time a consulting firm has been held criminally responsible for advice leading to a client's criminal actions. The settlement follows previous payouts by McKinsey related to the opioid crisis.

via NPR|
#business#justice-department#mckinsey
McKinsey's $650M Opioid Settlement Sends Warning to Consultants
business1 year ago

McKinsey's $650M Opioid Settlement Sends Warning to Consultants

McKinsey has agreed to a $650 million settlement with the US Department of Justice over its role in advising opioid manufacturers, including Purdue Pharma, during the opioid crisis. The firm admitted to conspiring to misbrand prescription drugs and will face restrictions on future pharmaceutical consulting work. A former senior partner, Martin Elling, will plead guilty to obstructing justice by destroying documents. This marks the first criminal accountability for a consulting firm in such a case, highlighting the legal risks for consultants involved in client misconduct.

via Financial Times|
#business#consulting-industry#legal-settlement
McKinsey Settles Opioid Case for $650 Million
business1 year ago

McKinsey Settles Opioid Case for $650 Million

McKinsey & Company has agreed to pay $650 million to settle criminal charges related to its role in promoting OxyContin sales for Purdue Pharma, contributing to the opioid epidemic. The firm will cease any work related to controlled substances and will not contest the charges, which include conspiracy to defraud the U.S. and document destruction. This settlement follows a previous $573 million agreement with state attorneys general over similar allegations.

via ABC News|
#business#legal-settlement#mckinsey
McKinsey Settles Opioid Probe for $650M; Ex-Partner Faces Charges
business1 year ago

McKinsey Settles Opioid Probe for $650M; Ex-Partner Faces Charges

McKinsey & Co. has agreed to pay $650 million in a deferred prosecution agreement to settle a federal criminal investigation into its consulting work with Purdue Pharma, which involved advising on increasing sales of the opioid OxyContin. Additionally, a former McKinsey partner will plead guilty to obstruction of justice for destroying and concealing documents related to the probe.

via CNBC|
#business#legalsettlement#mckinsey