BrazilMcKinsey launches AI subsidiary QuantumBlack in Middle East
McKinsey & Company has launched its QuantumBlack subsidiary in the Middle East, opening for business from the firm’s offices in Egypt, Saudi Arabia and the United Arab Emirates.
QuantumBlack’s roots trace back to 2009, when the firm was founded in the United Kingdom. After making an impressive impact with the application of data science in the world of Formula 1, McKinsey & Company was quick to spot the potential. In 2015, the strategy consultancy added QuantumBlack to its business.
Fast forward eight years, and QuantumBlack has grown into a 1,200-strong team of practitioners specialised in data science, advanced analytics, artificial intelligence and machine learning. Following 2022 launches across all corners of the global – from Latin America all the way to Oceania – the Middle East is now the next in line.
Operating as ‘QuantumBlack, AI by McKinsey’, the subsidiary helps McKinsey clients with unlocking the power of artificial intelligence, enabling them to “reinvent themselves from the ground up – and accelerate sustainable and inclusive growth”.
“We do that by harnessing the foresight and precision of data and cutting-edge technology and solutions,” explained Alex Singla, a senior partner at McKinsey and QuantumBlack global co-leader. Alexander Sukharevsky, QuantumBlack’s fellow global co-leader added: “As the AI arm of McKinsey, we blend powerful AI and technology with deep strategic thinking and domain expertise to help organisations innovate in today’s environment.”
Enter the Middle East
In the Middle East, QuantumBlack is led by the trio Chiara Marcati, Vinay Chandran, and Mahir Nayfeh – all have been with McKinsey for years and have been appointed from within the firm’s own ranks.
“We are extremely excited to be in the Middle East,” said Sukharevsky. “We have no doubt that QuantumBlack will play an important role in helping our clients accelerate the transformations underway in a significant way. Having the human expertise, combined with the precision and predictive capabilities of AI will truly be a gamechanger for our clients.”
Marcati added: “AI is already playing a transformative role in across every sector and could contribute an additional 9% to GDP. From fraud detection or workforce automation to improving outcomes of public services, I don’t think there’s any capability with the potential transform organizations the way AI can. This is why we are so excited to launch QuantumBlack in the region.”
Last month, QuantumBlack closed its first deal since its formal May 2022 launch, with the acquisition of 70-strong Iguazi. Notably, the deal was conducted in typical QuantumBlack fashion – McKinsey applied the art of AI to shortlist 1,000 targets worldwide and then identify its top deal target.
