The state of AI in early 2024: Gen AI adoption spikes and starts to generate value

This McKinsey survey, "The State of AI: Global survey," details how organisations are rewiring to capture value from artificial intelligence, particularly generative AI (gen AI).

It highlights that companies, especially larger ones, are actively redesigning workflows, establishing robust governance overseen by senior leadership, and mitigating growing risks to achieve tangible bottom-line impact.

The report also addresses shifts in AI-related hiring and workforce reskilling, noting a rise in AI adoption across business functions and an increase in individual use of gen AI, especially among C-level executives.

While AI use is surging and showing value at the business unit level, the survey concludes that enterprise-wide financial impact from gen AI is still in its early stages, with significant potential for growth as more companies implement best practices.