McKinsey & Company ‘s The State of AI in 2023 – Generative AI’s breakout year.
▶ One-third of McKinsey Global Survey respondents reported utilizing generative AI tools in at least one business function.
▶ Nearly 25% of C-suite executives admit they use gen AI products for work.
Over 25% of AI businesses’ boards have put AI on their agendas.
▶ Because to gen AI, 40% of respondents said their companies will invest more in AI.
▶ Three-quarters of respondents expect gen AI will disrupt their industry’s competition within three years.
▶ Generative AI tools are mostly used in marketing, sales, product and service development, and service operations.
▶ 21% of AI adopters claim their companies have gen AI policies.
▶ Gen AI’s main risks include accuracy, cybersecurity, and IP infringement.
AI top achievers employ AI in product and service development, risk modeling, and HR more than others.
▶ Some AI high performers suffer with strategic AI adoption, while others struggle with AI maturity.
▶ The newest poll shows that AI-focused firms are hiring new employees.
In the last year, AI-using companies hired data engineers, machine learning engineers, and AI data scientists, but few hired AI-related software developers.
▶ The 2023 McKinsey Global Survey on AI reported that hiring for AI-related professions has gotten easier over the past year. ? Nearly four in five AI adopters expect more than 20% of their workforces to be reskilled, while 8% foresee a 20% workforce reduction.
? Companies use generative AI to enhance human tasks, not replace them.
Companies are mostly employing generative AI to boost top-line growth and productivity.
? 55% of firms have embraced AI in at least one function, according to the McKinsey Global Survey on AI.
? As in the previous four polls, product and service development and service operations report the most AI use.
? Just 23% of respondents claimed AI contributed at least 5% of their organizations’ EBIT last year, suggesting there is considerably more value to extract.
? Over two-thirds expect their companies to increase AI investment in the next three years.
? Generative AI’s popularity encourages AI adoption.
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