A recent survey conducted by McKinsey on May 30 reveals that 72% of organizations have implemented AI in at least one area as of March 2024. Additionally, about half of the respondents indicated that their organizations have adopted AI in two or more business functions. These figures represent increases from 55% and 33% in 2023, respectively.

The proportion of organizations specifically using generative AI nearly doubled from 33% to 65% between 2023 and 2024. This surge marks a significant departure from the relatively stable adoption rates of AI reported consistently between 47% and 58% from 2018 to 2023. McKinsey highlighted this trend as a breakthrough after years of limited change in AI adoption rates globally.

The survey also found that respondents are increasingly utilizing AI both within and beyond their professional roles, with senior executives showing the most substantial growth in this regard. The Asia-Pacific and Greater China regions demonstrated the most significant increases in AI adoption.

Regarding the benefits derived from AI adoption, McKinsey identified marketing and sales as the most common areas benefiting from AI, with 34% of respondents applying it in these functions. Product and service development followed closely, with 23% of organizations using AI in this area. Additionally, 17% reported using AI in IT functions, a category not previously highlighted by McKinsey's research.

McKinsey's report also touched upon investment trends, noting that companies are nearly equally likely to allocate 5% of their digital budgets to generative AI compared to analytical AI. Generative AI investments frequently led to reductions in human resource costs and substantial revenue increases exceeding 5% in supply chain and inventory management. Meanwhile, analytical AI investments predominantly produced cost efficiencies in service operations and significant revenue gains in sales and revenue.

In parallel to McKinsey's findings, Nvidia recently announced its new generation of AI chips named Rubin on June 2, following its earlier Blackwell series. Nvidia, a key player driving the AI revolution, commands a substantial market share estimated between 70% to 95% in the AI chip market, according to Mizuho Securities. Conversely, AMD unveiled its own new line of AI chips on May 3, intensifying competition in the AI hardware sector.