McKinsey And Cohere Establish Partnerships To Provide Artificial Intelligence Solutions For Enterprise Clients

JAKARTA - giant Consultant McKinsey announced a partnership with artificial intelligence startup Cohere, in an effort to provide artificial intelligence solutions to its clients at the company.

This is the first partnership McKinsey announced with a major language model provider, as the company joins other global consulting firms to capitalize on global artificial intelligence triggered by OpenAI's Microsoft-backed ChatGPT.

"We see our clients considering cost, IP protection, and consumer privacy, as well as how the model is trained. We find that Cohere is one of the best solutions among those," said Ben Ellencweig, a senior partner at McKinsey, in an interview with Reuters.

McKinsey said it was working with Cohere to build customized solutions to increase customer engagement and workflow automation for their clients. The company also plans to use Cohere to improve internal efficiency and run the knowledge management system at McKinsey.

The two companies said they had worked together to serve companies from various industries, from financial services to retail, without revealing the names of the companies.

Cohere, founded by Google's leading former AI researcher, seeks to become a neutral provider for companies to use models that are not tied to cloud providers like Microsoft. Cohere competes with OpenAI focusing on a generating AI solution for the company.

Last month, Cohere raised $270 million from investors including Nvidia, Oracle, and Salesforce Ventures, with a valuation of 2.2 billion dollars (Rp33 trillion).

The company also announced a partnership with Oracle, which will embed Cohere's generative AI technology into its products.

"This partnership is very much part of our strategy when we decide that the best way to really bring this technology impact to the world is through companies and through strong and complementary partners like McKinsey," said Martin Kon, president at Cohere.

Apart from McKinsey, other consulting firms such as Accenture announced a $3 billion investment in AI, while PwC said in April it would invest $1 billion in the next three years.

Bain and Company teamed up with OpenAI, while Deloitte partnered with chipmaker Nvidia