News Summary

• An AI factory is the desire and ability to have repeatable small pieces of work, with stable costs and access to skills.
• Enterprise AI factories, in effect, do for AI what low and no code technology platforms have done for business applications.
• Using templates and repeatable processes, they can create business outcomes that users need.
• McKinsey claims AI could deliver an additional $200bn in annual value to the banking sector and $400bn to retail a year.
• This, it says, will be delivered through worker augmentation, with half of existing work activities being automated by AI between 2030 and 2060.