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Countless organizations are investing in artificial intelligence, but most are not seeing value. Join McKinsey at the break to hear how forward thinking companies are bridging the gap between AI performance and impact. Here's your morning TNB Tech minute for Monday, December 22nd. I'm Julie Chang for the Wall Street Journal. Instacart is scrapping all price tests, effective immediately. The move comes after customer pushback following a report that Instacart was charging charging different prices for the same items. The report from earlier this month found an average difference of 13% between the highest and lowest prices, with some differences as high as 23%. Instacart had said the tests help retailers understand consumer preferences. Today, a spokesperson said that the tests fell short of expectations. Billionaire Larry Ellison has agreed to personally guarantee $40.5 billion of equity financing for Paramount's bid for Warner Brothers Disc. Paramount previously made a hostile all cash tender offer of nearly $78 billion for Warner, but Warner rejected it over concerns about the credibility of the offer and it recommended shareholders go with Netflix's offer instead. Paramount's revised offer for the same share price expires January 21st. In the meantime, Netflix has been looking to shore up its own financing for its $72 billion deal for Warners studios and streaming service. According to a filing with the securities and Exchange Commission. Netflix has secured some $25 billion in bank financing to fund it and whoever ends up winning Warner. We report that theater owners fear the acquisition could reduce the number of theatrical releases or push movies to streaming platforms faster, though both Paramount and Netflix have said they wouldn't do that. Finally, Chinese tech giant Baidu is teaming up with ride hailing platforms Uber and Lyft to begin trials of its self driving Vehic vehicles in the uk. Uber says it'll begin a pilot program in London with Baidu's robo taxi unit Apollo Go in the first half of next year. And Lyft says it'll begin testing in London with dozens of Apollo GO RT6 vehicles next year, pending regulatory approval. Baidu's Apollo GO currently leads the global autonomous driving charge. It's completed more than 17 million rides across 22 cities as of November. That's your TMB Tech minute. Join us again this afternoon for more. Delivering on AI's full potential requires a fundamental shift in approach. Here's Veren Marja of McKinsey again on what true transformation looks like. You first have to identify the workflow. So for example, we worked with Toyota and we built an AI powered demand sensing and digital supply chain and that required us to get real time visibility across all of their manufacturing plants and use that data and information to incorporate that into their planning processes. And that drove a significant improvement in driving sales and profitability up at the end of the day. Today, McKinsey operates not just as a strategic advisory, but also as a technology company. Our key message is AI needs to be applied holistically across operations to unlock value at scale. Discover how McKinsey is redefining AI transformation at CES and driving innovation and impact across industries at McKinsey.com CES Custom Content from WSJ is a unit of the Wall Street Journal Advertising Department. The Wall Street Journal News Organization was not involved in the creation of this content.
