Although it is still early days for the technology, the McKinsey report showed its adoption is picking up across industry sectors. Credit: gorodenkoff The usage of generative AI across enterprises is already widespread, although it is still early days for the new technology, according to a report from McKinsey’s AI consulting service, Quantum Black. The report is based on an online survey conducted in April, which received responses from 1,684 participants globally across multiple industry sectors, company sizes, and functional specialties. Nearly 22% of the respondents said they are using generative AI for their work. This usage was highest in the technology sector, and among respondents from North America, the report showed. Industry verticals, including financial services, retail, professional services, and healthcare were also using generative AI but trailed behind the technology sector, according to the report. “While our estimates suggest that tech companies, unsurprisingly, are poised to see the highest impact from gen AI — adding value equivalent to as much as 9% of global industry revenue — knowledge-based industries such as banking (up to 5%), pharmaceuticals, and medical products (also up to 5%), and education (up to 4%) could experience significant effects as well,” the report said. In contrast, manufacturing-based industries, such as aerospace, automotive, and advanced electronics could experience less disruptive effects due to limitations of the new technology’s usage in these industries as most work requires physical labor, the report said. The findings also showed that the most commonly reported uses of generative AI are in marketing, sales, product development, and service operations. Almost 14% of the respondents said their organization was using generative AI in the marketing and sales division, followed by 13% and 10% of the respondents saying their organizations were making use of the new AI technology across product development and service operations, respectively. Marketing use cases of generative AI, as per the report, included crafting text documents, summarizing documents, and personalized marketing. Other functions were found to be using generative AI to identify customer needs, draft technical documents, create new product designs, and forecast trends. Related content opinion Navigating the Cybersecurity Threat Landscape in the UAE: Strategies for CISOs By Andrea Benito May 28, 2024 4 mins feature 10 most difficult-to-fill IT roles — and how to address the gap With AI, cybersecurity, and data analytics talent in short supply, IT leaders are upskilling, recruiting from the business, highlighting culture, and relying on contractors to secure the talent they need. By Stephanie Overby May 28, 2024 11 mins Hiring Staff Management feature Sun Country enhances customer experience with IT The low-cost regional airline turned to IT to develop a self-service e-voucher program aimed at easing the hassles that come with flight delays and cancellations. By Paula Rooney May 28, 2024 6 mins CIO 100 Travel and Hospitality Industry Digital Transformation brandpost Sponsored by Cyber NewsWire INE Security Enables CISOs to Secure Board Support for Cybersecurity Training By Cyber NewsWire - Paid Press Release May 27, 2024 7 mins Cyberattacks Security PODCASTS VIDEOS RESOURCES EVENTS SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe