- McKinsey's new report reveals that 72% of organizations have integrated AI in at least one business function, with 65% regularly using generative AI.
- The report also highlights significant regional growth in AI adoption, particularly in the Asia-Pacific and China.
Artificial Intelligence (AI) has been consistently making headlines. With major tech companies' release of new AI models, AI is becoming prominent in various fields.
Recently, SpaceX and Tesla chief, Elon Musk, voiced his concerns about AI systems prioritizing political correctness over truth. He also predicted that traditional jobs would become obsolete, suggesting that "none of us will have a job."
Similarly, Geoffrey Hinton, often called the "godfather of AI" for his pioneering work on neural networks, shared his concerns in a BBC interview. He warned that AI could exacerbate the wealth gap by eliminating many routine jobs and suggested that implementing a universal basic income could be a potential solution.
McKinsey has published a report titled “The State of AI in Early 2024.” The research, which included over 1,363 participants, found that 72% of organizations had adopted some form of AI in at least one business function. Additionally, 65% reported regularly using generative AI, a significant increase from the 33% rate in 2023.
The influence of AI and generative AI spans various regions and industries. While AI adoption did not exceed 66% anywhere in the world last year, this year, over two-thirds of respondents in nearly every region indicated their organizations are using AI. The most notable increases were observed in the Asia-Pacific region and China.
Furthermore, McKinsey has identified three strategies for implementing generative AI: “takers,” who use off-the-shelf tools; “shapers,” who customize publicly available tools; and “makers,” who develop their models. Interestingly, most enterprises employ a hybrid approach, with about 50% using off-the-shelf tools and the rest significantly customizing or building their solutions from scratch.
Edited by Harshajit Sarmah
