Generative AI (gen AI) technology develops quickly, and many organizations are wasting no time adopting its capabilities. Senior partner Alexander Sukharevsky and colleagues find that most companies incorporating gen AI can deploy the technology within one to four months. Strategies that involve highly customized or proprietary models, however, were 1.5 times more likely than off-the-shelf, publicly available models to take five months or more to implement.
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A series of spider area graphs show the time it takes for an organization to put generative AI (gen AI) capabilities to use, from project launch, by different industry types. Most take 1–4 months to put gen AI capabilities to use. In order, the industry types that indicated it took 1–4 months are: IT, at 36%; software engineering, at 36%; human resources, at 34%; strategy and corporate finance, at 3%; risk, at 29%; product and service development, at 27%; marketing and sales, at 27%; service operations, at 24%; other corporate functions, at 21%; supply chain and inventory management, at 20%; and manufacturing, at 15%. Source: McKinsey Global Survey on AI, 1,363 participants at all levels of the organization, Feb 22–Mar 5, 2024.
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To read the survey, see “The state of AI in early 2024: Gen AI adoption spikes and starts to generate value,” May 30, 2024.