QuantumBlack CEO Jeremy Palmer says it will leverage its heritage from Formula One racing to help businesses in South East Asia harness data for performance improvements and growth.
By Joanne Leila Smith
McKinsey & Company announced the Southeast Asia launch of QuantumBlack, an advanced analytics firm, during its flagship digital event Decoded 2019.
Attended by more than 300 C-Suite Executives from Southeast Asia’s leading firms, Decoded 2019 brought attendees through a series of breakout sessions that dived into the essential elements of tech-enabled transformation. Topics covered include advanced analytics, agile organisation, automation, core tech transformation, cybersecurity, design, digital business building, industrial Internet of Things (IoT) and partners and ecosystems.Vinay
Acquired by McKinsey in 2015, QuantumBlack is poised to open in Singapore to serve clients across Southeast Asia. With its heritage in Formula One motor racing, QuantumBlack CEO Jeremy Palmer, whom is based in London, says its experience in data-driven performance optimisation may help businesses identify, measure and act on areas for operational improvements and strategic growth.
According to a 2018 McKinsey Study Advanced Analytics: Poised to Transform Asian Companies based on conversations with more than 100 business executives in Asia, many organisations claim they struggle to pinpoint the most valuable use cases for data analytics.
“The opportunity in Asia is truly exciting. Some of the world’s most digitally sophisticated companies are here and within Southeast Asia. Singapore’s data-rich environment is leading experimentation across multiple industries. I look forward to growing our regional footprint and helping clients here better use their data to hone their competitive edge and improve their long-term performance,” says Palmer.
The event was attended by Minister for Trade and Industry, Singapore Chan Chun Sing, Co-Founder of Grab Tan Hooi Ling, and DBS Group Head, Institutional Banking Tan Su Shan.
“The digital economy presents tremendous opportunities for Singapore to transcend limitations of size and geography and take our businesses and workers to the next frontier. For this to happen, we need to focus on connectivity in non-physical dimensions e.g. data, talent, regulations and technology. Governments can serve as the enabler, but organisations too must pinpoint valuable use cases for data analytics, to capitalise on the opportunity to improve performance and achieve true transformation. The launch of QuantumBlack in Singapore is testament to our efforts to foster a vibrant and innovative digital ecosystem in Singapore,” says Minister Chan.
Supported by the Singapore Economic Development Board (EDB), Palmer says QuantumBlack’s priorities with its Southeast Asia launch include supporting organisations to enhance performance and drive growth. Building a vibrant and sustainable data science and machine learning community to nurture the data science and analytics talent pool in the region and, foster knowledge exchange with global experts in the field.
According to Senior Partner and Leader, McKinsey Digital Vinayak HV, QuantumBlack advocates for ethical and explainable Artificial Intelligence (AI) to bridge the gap between performance and interpretability, with the aim to strengthen trust from users and allow more complex models to be implemented.
“Our study shows that making meaningful use of data remains a key challenge for many business leaders in the region. With QuantumBlack’s proven expertise in using data analytics to achieve sustainable performance improvements, we look forward to helping clients here overcome that challenge. Their capabilities combined with McKinsey’s deep domain expertise and change management experience enable us to become stronger impact partners to our clients,” says Vinayak HV.
(Ed. Image courtesy of QuantumBlack, features left-to-right McKinsey Digital Senior Partner and Leader Southeast Asia Vinayak HV, Grab Co-founder Tan Hooi Ling, Minister for Trade and Industry, Singapore Chan Chun Sing and and DBS Group Head Institutional Banking Tan Su Shan at Decoded 2019, July Singapore.)