Generative AI is shaping business, and driving investment — And?

While ChatGPT has become popular the world over as an AI content generation tool, there are many other tools which are seeing just as much success when it comes to helping businesses boost their productivity and bring their creative ideas to life.

Top level management focusing on ways to build business through AI

In the latest McKinsey Global Survey on AI, they report that while AI was previously a topic discussed only by tech employees, it has now become a focus for executives, with nearly one-quarter of surveyed C-suite executives saying they are personally using gen AI tools for work.

Alex Singla, Senior partner and global leader of QuantumBlack, AI by McKinsey said that she finds it amazing how quickly the conversation around generative AI has evolved.

“Just a few months ago, the conversation in the C-suite was pretty rudimentary, focused on trying to understand what it was and seeing what was hype versus what was reality. Now in just about six months, business leaders are having much more sophisticated conversations,” she said.

“We see from the data that the promise of generative AI is leading almost half of companies already using AI to plan on increasing their investments in AI, driven in part by the understanding that broader capabilities are needed to take full advantage of generative AI.”

More than one-quarter of respondents from companies using AI saying that gen AI is already on their boards’ agendas, and that AI is being regularly used in at least one business…