McKinsey: Why some industries gain an AI advantage, while others lag

McKinsey's Global AI survey has found that the use of artificial intelligence (AI) in automating business processes has increased by 25% year on year, yet a number of sectors are struggling. In a global survey of 2,360 businesses, McKinsey found that 58% of organisations have embedded at least one AI capability into a process or product in at least one function or business unit. This is up from 47% in 2018, which means AI adoption is becoming more mainstream, it suggested. According to McKinsey, the top quarter of businesses – the 54 "AI high performers" that took part in the study, where AI is being used in five or more business activities – reported seeing an average revenue increase of at least 5% from AI adoption in the business units where AI is used. The study also found that these businesses saw an average cost decrease of 5% or more from AI adoption in the business units where AI is used.