13 Dec 2021

Global Survey: The state of AI in 2021

This Global State of AI Survey, by McKinsey & Company, based on responses from more than 1,800 executives, shows that  AI adoption and impact is growing fast – and it isn’t set to slow down:

  • 56% of all global respondents report adoption in at least one business function, up from 50% last year, with adoption increasing most in emerging economies.
  • The share of respondents reporting at least 5% EBIT that’s attributable to AI has increased to 27%, up from 22% in the previous survey.
  • 67% of all respondents also saw revenue uplift and 79% saw cost reduction (up significantly from 44% last year).

And, the companies getting the most from AI appear to be professionalising and industrialising the AI development and deployment process:

However, no matter a company’s AI performance, risk management remains an area where many have room to improve:

  • Cybersecurity remains the most recognized risk among respondents, yet a smaller share says so than did in 2020, despite the rising threat of cyber incidents.
  • Respondents in emerging economies report lower recognition of many risks compared to those in developed economies (although numbers are low here as well).

 

Zoe Brockbank

Zoe Brockbank

Programme Coordinator, Policy, Tech and Innovation, techUK

Zoe is a Programme Assistant, supporting techUK's work across Policy, Technology and Innovation.

The team makes the tech case to government and policymakers in Westminster, Whitehall, Brussels and across the UK on the most pressing issues affecting this sector and supports the Technology and Innovation team in the application and expansion of emerging technologies across business, including Geospatial Data, Quantum Computing, AR/VR/XR and Edge technologies.

Before joining techUK, Zoe worked as a Business Development and Membership Coordinator at London First and prior to that Zoe worked in Partnerships at a number of Forex and CFD brokerage firms including Think Markets, ETX Capital and Central Markets.

Zoe has a degree (BA Hons) from the University of Westminster and in her spare time, Zoe enjoys travelling, painting, keeping fit and socialising with friends.

Email:
[email protected]
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