This McKinsey report, The State of AI in Early 2024: Gen AI Adoption Spikes and Starts to Generate Value, examines the rapid acceleration of generative AI (gen AI) adoption across industries. Drawing from a global survey of 1,363 participants, it shows that 65% of organizations are now using gen AI—nearly double from the previous year. The document highlights how AI is being applied in functions like marketing, product development, and IT, generating measurable cost reductions and revenue growth. It also explores risks such as inaccuracy, data privacy, and cybersecurity, while noting the practices of high-performing companies that are already attributing significant portions of their profits to AI. The report provides both an overview of the opportunities created by gen AI and practical insights into scaling responsibly and effectively.
