Michael Chui
McKinsey commentary
Partner, McKinsey Global Institute
The rapid pace of adoption of generative AI (gen AI) is reflected in the investments that companies are making in these technologies, with similar percentages of respondents to our survey stating that they are spending at least 5 percent of their digital budgets on gen AI and analytical AI. That said, given the longer track record in analytical AI, larger shares of respondents are spending more than 20 percent of their budgets on analytical AI than on gen AI.
Organizations are also finding themselves able to deploy gen AI quickly, with the most common project length being less than four months, reflecting the ease of using natural language as an interface. Organizations that are doing more customization or building their own models take longer to bring these systems online.