A recent McKinsey Global Survey shows that while generative AI became widely known last year, this is the year organizations are starting to use the new technology in earnest.
The survey, published in May, says that 65% of the 1,363 respondents in businesses around the globe are regularly using generative AI, which is double the percentage from a previous survey 10 months prior. Three-quarters of respondents predicted that generative AI will lead to “significant” or “disruptive” changes in their industries. The biggest adoption was found in professional services, the survey says.
In business areas using the technology, revenues are up and costs are down, the survey says.
Other highlights:
- The average organization using generative AI is doing so in two business functions, most often in marketing and sales and in product and service development.
- Most respondents, at 67%, expect their organizations to invest more in AI over the next three years.
- Compared with 2023, respondents are much more likely to be using generative AI at work, and they’re even more likely to be using it both at work and in their personal lives.
- The largest share of respondents report seeing cost decreases is human resources. Respondents most commonly report revenue increases of more than 5% in supply chain and inventory management.
- As far as risks, respondents were significantly more likely than last year to say their organizations are actively working to mitigate inaccuracy.
