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| 72% of Businesses Embrace Artificial Intelligence in 2024, According to Report |
The adoption of Artificial Intelligence (AI) by businesses has surged significantly, rising from 55% in 2023 to 72% in 2024, as revealed by a global survey conducted by consulting firm McKinsey.
While 2023 marked the year of AI discovery for many firms worldwide, 2024 has become the year of widespread adoption. However, the report also highlights that adopters remain cautious about the inherent risks associated with this technology.
Key findings from the report indicate that over two-thirds of survey respondents across various regions confirm their organizations' use of AI.
In terms of industry adoption, the professional services sector witnessed the most substantial increase. Moreover, businesses are now leveraging AI across multiple areas of their operations.
McKinsey's report states that half of the respondents report AI adoption in two or more business functions, a notable increase from less than a third in 2023.
Meanwhile, a recent study by the Reuters Institute and Oxford University, conducted in six nations (Argentina, Denmark, France, Japan, the UK, and the USA), revealed that while generative AI is generally well-known, a significant portion of the public (between 20% and 30% of website visitors) had never heard of the most prominent AI tools, including Microsoft Copilot, Google's Gemini, and ChatGPT.
Interestingly, ChatGPT appears to be two or three times more familiar than Google Gemini and Microsoft Copilot according to the Reuters report.
