AI Adoption Widens the Gap: Leading Companies Outpace the Rest

Technology News

AI Adoption Widens the Gap: Leading Companies Outpace the Rest
Artificial Intelligence,AI Adoption,Business Strategy

A new study by MIT and McKinsey reveals that the gap between high-performing companies and the rest in AI adoption has widened. Leading companies are reaping faster returns on AI investments, identifying successful use cases with lower risk, and prioritizing practical applications over academic research. The study highlights four key factors driving this success: executive sponsorship, mature partnerships with industry experts, smoother cross-departmental collaboration, and effective data management.

In 2021, researchers at MIT and McKinsey teamed up to ask more than 100 companies how they were using AI in their operations and to learn what separated the highest-performing companies from the rest. They conducted a similar survey in 2023 to see what had changed.

They also identified four factors that set leading companies apart: 1) Their efforts had executive sponsorship; 2) That the network of partnerships had shifted away from academia and startups to a maturing ecosystem of consultants, vendors, and industry partners, suggesting AI had matured enough that practical approaches are most valued; 3) That successful companies had smoother cross-departmental collaboration; and 4) That leading companies were more likely to record and manage relevant...

 

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