McKinsey: Gen AI adoption rockets, generates value for enterprises

by | May 30, 2024 | Technology

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Organizations are in a wild race to adopt generative AI — it is one of the most significant technological innovations in a generation (or multiple generations). 

In fact, just a year-and-a-half after ChatGPT was announced — changing the world as we know it — 65% of organizations are regularly using AI, according to a new report from consulting firm McKinsey. This is nearly double the percentage from the firm’s previous McKinsey Global Survey only 10 months ago. 

Looking ahead, expectations are high: The majority of respondents predict that gen AI will lead to “significant or disruptive” change in their industries.

“In 2024, gen AI is no longer a novelty,” said Alex Singla, senior partner and global co-leader of QuantumBlack, AI by McKinsey. “The technology’s potential is no longer in question. And while most organizations are still in the early stages of their journeys with gen AI, we are beginning to get a picture of what works and what doesn’t in implementing — and generating actual value with — the technology.”

June 5th: The AI Audit in NYC

Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.

AI investment increasing at a rapid pace

Half of the respondents to the survey said their organizations have adopted AI in two or more business functions, and 67% expect AI investment to increase in the next three years. 

The biggest increase in adoption is in professional services, and gen AI is (today at least) most often being used in marketing and sales (for content, personalization and sales leads); product and service development (for design development, scientific literature and resea …

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Time’s almost up! There’s only one week left to request an invite to The AI Impact Tour on June 5th. Don’t miss out on this incredible opportunity to explore various methods for auditing AI models. Find out how you can attend here.

Organizations are in a wild race to adopt generative AI — it is one of the most significant technological innovations in a generation (or multiple generations). 

In fact, just a year-and-a-half after ChatGPT was announced — changing the world as we know it — 65% of organizations are regularly using AI, according to a new report from consulting firm McKinsey. This is nearly double the percentage from the firm’s previous McKinsey Global Survey only 10 months ago. 

Looking ahead, expectations are high: The majority of respondents predict that gen AI will lead to “significant or disruptive” change in their industries.

“In 2024, gen AI is no longer a novelty,” said Alex Singla, senior partner and global co-leader of QuantumBlack, AI by McKinsey. “The technology’s potential is no longer in question. And while most organizations are still in the early stages of their journeys with gen AI, we are beginning to get a picture of what works and what doesn’t in implementing — and generating actual value with — the technology.”

June 5th: The AI Audit in NYC

Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.

AI investment increasing at a rapid pace

Half of the respondents to the survey said their organizations have adopted AI in two or more business functions, and 67% expect AI investment to increase in the next three years. 

The biggest increase in adoption is in professional services, and gen AI is (today at least) most often being used in marketing and sales (for content, personalization and sales leads); product and service development (for design development, scientific literature and resea …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]

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