Great McKinsey and Company review of the progress of gen AI

The recent article by a team at McKinsey provides a compelling picture of the impact and growth of AI across business types. A few highlights from me, but please read the whole article; informative, readable, great graphics that tell a big story

• Pharma and biotech are matching other industries in the deployment of AI
• The leading companies see the benefits to their business in the following order; Increasing the value of what they do, creating new business opportunities, growing the existing revenue base, and reducing costs (NOTE this is last)
• While 30% of organizations see little or no change in workforce, 43% of employers expect a decrease in workforce
• Service operations (I think this means data management, analytics, technical writing (this is the No 1 use of AI in marketing to date)..) is the only function to predict an overall decrease in workforce with 54% of organizations anticipating a reduction
• around three quarters of high performing AI companies expect 30% of their workforce will need re-skilling

A compelling story, of leaders with a vision of AI transforming their business, growing their customer base, and a need to rapidly reskill a large percentage of their workforce. Many organizations are already moving quickly along this road, seeing early adoption as both a means of learning rapidly and creating advantage.