“AI high performer” companies see increased revenue and reduced costs

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 27, 2019, 11:50 AM UTC

Strategy is a key differentiator for the high performers.

This article cites a McKinsey survey which revealed a 25% YoY increase in AI usage across business processes. The survey was conducted on 2,360 executives, of which, 44% reported reduced costs owing to AI usage.

A small share of companies, the “AI high performers”, are bringing in “outsize” business results from AI, the study also found. Further, around 63% of companies indicated increased revenue upon adopting AI in their business units.

Strategy plays a crucial role for the high performers with 72% of them reporting an alignment of their AI and corporate strategies. Additionally, 33% of the high performers say that a majority of their workforce has received AI-related training over the last year.

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