Global AI Survey: AI proves its worth, but few scale impact

Most companies report measurable benefits from AI where it has been deployed; however, much work remains to scale impact, manage risks, and retrain the workforce. A group of high performers shows the way, as explained in this article by Arif Cam, Michael Chui and Bryce Hall of McKinsey. Adoption of artificial intelligence (AI) continues to increase, and the technology is generating returns. The findings of the latest McKinsey Global Survey on the subject show a nearly 25 percent year-over-year increase in the use of AI2 in standard business processes, with a sizable jump from the past year in companies using AI across multiple areas of their business. A majority of executives whose companies have adopted AI report that it has provided an uptick in revenue in the business areas where it is used, and 44 percent say AI has reduced costs.