Nearly three-quarters of organizations now use AI, breaking adoption stagnancy: McKinsey


A
new
survey
reveals
that
72%
of
organizations
have
adopted
AI
in
at
least
one
area
as
of
March
2024,
according
to
a
new
survey
conducted
by
McKinsey
on

May
30.

Meanwhile,
roughly
50%
of
all
respondents
said
that
their
organizations
adopted
AI
in
two
or
more
business
functions.

Each
metric
is
up
from
55%
and
33%
in
2023,
respectively.

The
proportion
of
organizations
that
specifically
reported
using
generative
AI
nearly
doubled
from
33%
to
65%
between
2023
and
2024.

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Organizations
consistently
reported
adopting
AI
at
a
rate
of
47%
to
58%
from
2018
to
2023.
McKinsey
emphasized
that
the
trend
breaks
long-term
stagnation,
stating:

“AI
adoption
worldwide
has
increased
dramatically
in
the
past
year,
after
years
of
little
meaningful
change.”

McKinsey
also
found
that
respondents
are
more
likely
than
ever
to
use
AI
both
inside
and
outside
of
work,
with
the
highest
seniority
individuals
reporting
the
largest
growth
in
that
category.

The
company
found
that
Asia–Pacific
and
Greater
China
demonstrated
the
greatest
growth
in
AI
use.

AI
produced
benefits

According
to
the
report,
AI
adoption
is
most
common
in
two
areas
previously
identified
as
having
the
most
potential
to
produce
value.

The
first
area
is
marketing
and
sales,
where
34%
of
respondents
applied
AI.
The
second
area
is
product
and
service
development,
where
23%
of
respondents
used
the
technology.
Additionally,
17%
of
respondents
used
AI
in
IT
functions,
an
area
McKinsey
did
not
identify
in
its
previous
research.

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McKinsey
also
commented
on
investments.
it
reported
that
firms
were
almost
as
likely
to
invest
5%
of
their
digital
budgets
in
generative
AI
versus
analytic
AI.

Generative
AI
investments
most
often
reduced
human
resource
costs
and
provided
meaningful
revenue
increases
above
5%
in
supply
chain
and
inventory
management.

Analytical
AI
investments
most
frequently
produced
cost
benefits
in
service
operations
and
meaningful
revenue
gains
in
revenue
and
sales.

Nvidia,
AMD
readying
new
chips

McKinsey’s
survey
results
come
alongside
a

June
2
report
that

Nvidia
has
announced
a
new
generation
of
AI
chips
called
Rubin.
The
new
chip
lineup
comes
months
after
the
firm
announced
the
previous
generation
of
chips,
called
Blackwell.

Nvidia
is
critical
in
driving
the
AI
revolution.
According
to
an
estimate
from
Mizuho
Securities,
it
accounts
for
70%
to
95%
of
the
AI
chip
market
share.

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The
firm
announced

record-breaking
quarterly
revenue
at
the
end
of
May.

Nvidia’s
competitor,
AMD,
announced
its
new
line
of
AI
chips
on
May
3.

Mentioned
in
this
article
Posted
In:

AI

Go to Source
Author: Mike Dalton


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