Generative AI could add up to $4.4 trillion annually to global economy

Here are the key forecasts on the impact of GenAI across all industry sectors from the latest McKinsey report on the subject.

Artificial intelligence (AI) can play a crucial role in assisting leaders and their teams in making strategic, as well as immediate, data-driven decisions and taking effective action. Research has shown that generative AI adoption in marketing reveals promising productivity gains with marketers estimating generative AI can save them the equivalent of over a month per year, making room for more meaningful work. Some estimates are forecasting that AI has the potential to automate 40% of the average workday

Also: Generative AI is coming for your job. Here are 4 reasons to get excited

The latest report from McKinsey on the economic potential impact of generative AI points to what may be the next productivity frontier. The report studied 16 business functions, examining 63 use cases in which the technology can address specific business challenges in ways that produce one or more measurable outcomes.

Source