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High Performers Show the Way Toward AI Adoption


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Calice Becker, a master perfumer at Givaudan, uses the 'Carto' artificial intelligence-powered tool.

A survey by the McKinsey Global Institute offers some lessons businesses can learn from high-performing companies that have adopted artificial intelligence.

Credit: Gonzalo Fuentes/Reuters

A McKinsey Global Institute survey offers lessons from high-performing companies on artificial intelligence (AI) adoption, of whom about 3% are realizing outsize business results.

High performers are much further along in scaling AI use with an average of 11 use cases, versus three among other polled companies.

In addition, high performers are almost three times as likely as other firms to earn more than 10% in additional revenue, and more than four times as likely to report minimum cost reductions of 10%.

High performers also tend to follow key value-capturing practices like AI strategy-business goal alignment and strong data practices, work more to mitigate cybersecurity and other AI-associated hazards, and emphasize workforce retraining.

The survey concluded, "[AI] technology appears to have reached another stepping stone in its ascent in business."

From The Wall Street Journal
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Abstracts Copyright © 2020 SmithBucklin, Washington, DC, USA


 

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