Generative AI In Corporations: A Global Phenomenon
McKinsey and Company, the global consulting giant, is riding the wave of generative artificial intelligence (gen AI). With around half of its workforce embracing the technology, they’re not alone in this journey.
A recent annual report by McKinsey’s AI arm, QuantumBlack, paints a vivid picture: gen AI is not just a buzzword; it’s a reality. And it’s here to stay.
The State of Gen AI: A Snapshot
Between April 11 and 21, 2023, McKinsey conducted an online survey with 1,684 participants from various regions, industries, and company sizes. The findings were eye-opening:
- 79% reported at least some exposure to gen AI, either for work or outside of work.
- 22% are using it regularly for their work.
These numbers resonate with VentureBeat’s informal survey, which found that over 70% of companies are already experimenting with gen AI.
Who’s Leading the Charge?
North America is at the forefront of gen AI adoption, with 28% using the tech in their jobs and outside of work. Europe and Asia-Pacific trail behind at 24% and 22%, respectively.
The industries embracing gen AI most rapidly include technology, media, telecom (33%), financial services (24%), and business, legal, and professional services (23%).
Interestingly, both C-suite and senior managers are leading the charge, with 24% regular usage for work and outside of work.
What’s Gen AI Being Used For?
From marketing and sales to product and service development, gen AI is making its mark. The largest category of functions where gen AI was being used as of April 2023 was marketing and sales (14%), followed by product/service development (13%).
Supply chain management and manufacturing are lagging, but they present ripe opportunities for gen AI to take hold.
More Than a Fleeting Trend
Gen AI is not just a passing fad. It’s a strategic focus for many organizations. Nearly half (40%) of those reporting AI adoption plan to ramp up their overall AI investments, thanks to gen AI. It’s even made its way onto the board’s agenda for 28% of these organizations.
Conclusion
The rise of gen AI is a global phenomenon that’s reshaping industries and job functions. It’s more than a fleeting trend; it’s a strategic focus that’s here to stay.
