Generative AI, also known as gen AI, is rapidly gaining traction across organizations, as reported by McKinsey and Company. A recent annual report by McKinsey’s AI arm, QuantumBlack, indicates that the use of gen AI is already widespread.
The findings are based on an online survey conducted between April 11 and 21, 2023, with 1,684 participants from various regions, industries, and company sizes.
According to the survey, approximately 79% of respondents reported some exposure to gen AI, either in their work or outside of it, and 22% stated they use it regularly for their work.
This aligns with a VentureBeat informal survey that found over 70% of companies are already experimenting with gen AI.
The report also sheds light on who is leading gen AI adoption and in which industries
North America-based respondents top the list, with 28% using gen AI in their work and personal lives, followed by 24% in Europe and 22% in the Asia-Pacific region (Greater China at 19%).
This trend is expected, given that the gen AI craze began in the U.S. with OpenAI’s ChatGPT launch in November 2022.
In terms of industries, “technology, media, and telecom” lead the pack at 33%, followed by “financial services” at 24% and “business, legal, and professional services” at 23%.
This correlates with the fact that the tech industry has been at the forefront of adopting gen AI products.
Among job titles, C-suite executives and senior managers stand out, with 24% reporting regular usage of gen AI for work and outside of it.
Mid-level managers are close behind at 23%, but some of them (19%) have had no exposure to gen AI.
Regarding the application of gen AI, the report shows that marketing and sales are the most common functions, with 14% of respondents using it in these areas, followed by product/service development at 13%.
However, supply chain management and manufacturing show low adoption rates of 3% and 2%, respectively, despite the potential for AI adoption in these domains.
The survey reveals that most gen AI capabilities revolve around creating, summarizing, and analyzing documents, with trend forecasting being a close second.
Overall, the report suggests that gen AI is not just a passing trend but a strategic focus for many organizations.
Approximately 40% of those reporting AI adoption plan to increase their overall AI investments due to the influence of gen AI. Additionally, 28% of organizations have already included gen AI on their board’s agenda.
(By Carl Franzen)