When AI is at the heart of the vision and strategy, companies perform better.
A key finding by Mckinsey in their latest report “The State of AI in 2020”.
Leaders of high AI performing companies are 2.3x more likely to be considered very effective.
Adoption of AI in business functions such as marketing and sales, strategy and corporate finance, supply chain management and manufacturing is resulting in up to 10% increased revenues. Its adoption is highest within product or service development.
Organisations who ensure high levels of explainability also achieve higher rates of adoption as do those who incorporate AI understanding and talent across all functions.
There is growth in the use of AI to actively mitigate risks. We should expect to see cybersecurity at the top of the list.
There has been a significant increase in the use of AI to mitigate both physical safety and national security risks.
We are seeing this trend.
AI is used to derive meaning from unconnected data sources. AI determines what is relevant, reduces friction and enables the right action to be taken quickly.
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