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 brandpost Sponsored by Avaya A comprehensive guide to AI in public sector contact centers AI is revolutionizing contact centers in the public sector by creating efficiency and enabling more personalized interactions with citizens. Learn more today. By Jerry Doston, Vice President of Public Sector, Avaya Government Solutions Jun 12, 2024 7 mins Machine Learning Artificial Intelligence brandpost Sponsored by SAP How Modern Farming (Group) Co., Ltd is revolutionizing dairy farming Modern Farming (Group) Co., Ltd wanted to make its dairy operations more efficient and profitable, so it turned to SAP for a solution. Based in Ma’anshan, China, Modern Farming operates over 50 farms in the country. It has 480,000 cows that pro By Tom Caldecott, SAP Contributor Jun 12, 2024 4 mins Digital Transformation feature New US CIO appointments, June 2024 Congratulations to these 'movers and shakers' recently hired or promoted into a new chief information officer, senior IT, or board role. By Martha Heller Jun 12, 2024 9 mins CIO Careers IT Leadership feature Gen AI can be the answer to your data problems — but not all of them Generative AI can solve a litany of data challenges — filling gaps, extracting information from documents, and improving data quality — but experts say to exercise caution and use it in conjunction with traditional approaches. By Maria Korolov Jun 12, 2024 9 mins CIO Generative AI Data Quality 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