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McKinsey, opioid plaintiffs spar over MDL venue


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(Reuters) - Consulting firm McKinsey & Co Inc on Thursday urged the Judicial Panel on Multidistrict Litigation to create a new MDL in the Southern District of New York consolidating lawsuits by local governments accusing it of contributing to the opioid epidemic through its work advising drug manufacturers.
The logo of consulting firm McKinsey and Company is seen in Paris, France May 16, 2019. REUTERS/Charles Platiau
Several plaintiffs’ lawyers countered that claims against McKinsey should be consolidated in an existing MDL in the Northern District of Ohio where more than 3,000 lawsuits by local governments are already pending against drugmakers, distributors and pharmacies. ....

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AI can unlock $1tn a year in value for banks, McKinsey says


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The adoption of artificial intelligence technologies could potentially deliver up to $1 trillion of additional value each year for banks, according to global consultancy McKinsey.
AI technologies can help boost revenues for banks through increased personalisation of services to customers, lower costs through efficiencies gained by higher automation, reduced error rates and better resource utilisation. They could also uncover new opportunities based on an improved ability to generate insights from vast troves of data, the consultancy s
“As customers conduct a growing share of their daily transactions through digital channels, they are becoming accustomed to the ease, speed and personalised service offered by digital native [companies], and their expectations of banks are rising,” Renny Thomas, senior partner at McKinsey, said. ....

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