The state of AI in early 2024: Gen AI adoption spikes and starts to generate value

Visual Summary of Report(s) by McKinsey

Image: McKinsey

Hello Everyone,

The state of AI in early 2024: Gen AI adoption spikes and starts to generate value - is the title of a recent report by Quantum Black, AI by McKinsey.

I wanted to summarize the survey and give you their bullish data points as they might be significant. They write:

“As generative AI adoption accelerates, survey respondents report measurable benefits and increased mitigation of the risk of inaccuracy. A small group of high performers lead the way.”

In this summary of McKinsey reports on AI in recent months, I will be summarizing across reports and adding my own commentary. I will especially be interested in sharing their infographics where applicable.

Feel free to browse these yourself, if you are so inclined:

• A new Future of Work

• The State of AI, Adoption Spikes

• The Human side of Generative AI

• Scaling Gen AI in Banking

• A Generative AI reset

• Beyond the Hype: AI in tech, media, and telecom

• The state of AI in 2023: Generative AI’s breakout year (looking back)

• Economic potential of Generative AI

My Disclosure

Keep in mind that consulting firms are a major driver of Techno-Optimism lobbying by the BigTech and Venture Capital establishment. So it’s literally their job to be bullish on AI, that’s not to say that they are entirely wrong, but very probably prone to exaggeration, hyperbole and let’s face it, blatant marketing to get more customers, clients and push the narratives of their biggest partners.

I’m always trying to balance my hunger for actual data and my innate skepticism on much of the AI news, marketing and deeper reports. I hope you find it useful.

• As someone who is always looking for signs of the future of work, some of these slides and infographics helped me make sense of what is going on.