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McKinsey & Co. says AI use by companies increases by 25% every year

Oil&Gas Materials 7 April 2021 10:34 (UTC +04:00)
McKinsey & Co. says AI use by companies increases by 25% every year

BAKU, Azerbaijan, Apr.7

By Leman Zeynalova - Trend:

Artificial intelligence adoption continues to increase thanks to the added value it generates, McKinsey & Company told Trend.

The companies that started to embed artificial intelligence in their business processes plan to benefit from it also in other areas after seeing the positive results, said the company.

According to the McKinsey Global Survey:

Companies that use artificial intelligence make a sizable jump from the past year across multiple areas of their business;

As a result, their use of artificial intelligence in business processes increases by an average of 25 percent every year;

A majority of executives whose companies have adopted AI report that it has provided an uptick in revenue in the business areas where it is used, and 44 percent say AI has reduced costs.

“We have been serving Azerbaijan’s leading and most respected private and public institutions in a large spectrum of sectors with our office in Azerbaijan. All our projects were in the top-priority areas for the senior leadership of these institutions, including topics such as comprehensive & holistic 10-year strategy, digital transformation, organizational redesign to increase efficiency and effectiveness, major operational improvement programs and advanced analytics projects.”

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Follow the author on Twitter: @Lyaman_Zeyn

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