Achieving success in AI adoption was never going to be easy, but the past few years have brought significant progress, with McKinsey & Company reporting that many businesses are starting to see the value, including impact on revenues. Put simply, we may be entering a new phase on the artificial intelligence journey.
In 2020, there was actually “no increase in AI adoption,” according to McKinsey’s The State of AI (published in November of that year); rather, companies were “capturing value from AI at the enterprise level” in terms of revenue and cost reductions, with some even attributing 20% or more of their earnings before interest, taxes, depreciation, and amortization (EBITDA) to AI.
