The state of AI in 2023: Generative AI’s breakout year

Jan 20, 2024 | Bias, Ethics, Future, Job Loss

The McKinsey Global Survey reveals swift adoption of generative AI (gen AI), used by one-third of respondents within a year of its introduction. Executives are actively involved in gen AI tools, marking a shift toward leadership engagement. Despite recognizing its potential for disruption, organizations are not effectively mitigating risks, notably inaccuracy. Leading companies leverage gen AI beyond cost reduction to create new revenue streams. Anticipated workforce changes due to AI require substantial reskilling efforts. However, while gen AI usage expands, overall AI adoption remains stagnant, limiting its integration across functions and untapped value potential. Increased AI investments are foreseen across various business areas in the near future.

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