According to a new study by McKinsey, globally, around 72 per cent of organisations had adopted some form of artificial intelligence (AI) in at least one business function, meanwhile 65 per cent of organisations were regularly using generative AI (GenAI).
The study noted that more than seven out of 10 of businesses and organisations around the world are using AI, a significant increase from the approximately 50 per cent adoption rate observed a year ago.
It added that the impact of AI and GenAI extends across borders and industries. In 2023, AI adoption was no higher than 66 per cent in any part of the world, but in 2024, more than two-thirds of respondents in nearly every region report their organisations are using AI, with the largest increases in the Asia-Pacific region and China.
As per the report, the biggest increase in AI use was found in professional services, including human resources, legal services, and management consulting, where organisations are leveraging its power for areas that require human interaction for repetitive tasks.
It added that the top concern among respondents was tackling inaccuracy, rising from 56 per cent to 63 per cent. Meanwhile, workforce and labor displacement fell as a concern, from 34 per cent to 27 per cent. In addition, of the risk categories surveyed, respondents were least worried about environmental impact, political stability, and physical safety.
The study also found that many organisations are not just using off-the-shelf AI solutions but are customising them or developing their own proprietary models. This trend towards tailoring AI technologies to meet specific business needs and achieve competitive advantage is particularly prevalent in industries with high public engagement.
The study further added that a significant increase in the use of GenAI both at work and in personal lives compared to 2023. With the explosion of popularity of tools like ChatGPT, MidJourney and Stable Diffusion, people are using GenAI for more than business, exploring entertainment, education, and even simulating social interactions.
