This summary is provided by the IPR Digital Media Research Center.

McKinsey & Company examined the evolving role of artificial intelligence (AI) in business.

A survey of 1,492 employees was conducted from May 3–Aug. 17, 2022.

Key findings include:
1.) AI adoption is 2.5 times higher today than in 2017.
2.) 27% of employees developing AI solutions within organizations identify as women and 25% identify as racial or ethnic minorities.
— Organizations where at least 25% of AI development employees identify as women are 3.2 times more likely than others to be AI high performers (companies with 20% or more of earnings before interest and tax from AI use).
— Organizations with at least 25% of AI development employees that are racial or ethnic minorities are more than 2 times as likely to be AI high performers.
— 29% of respondents say their organizations have no minority employees working on their AI solutions.
3.) 52% of organizations reported that more than 5% of their digital budgets went to AI compared to 40% in 2018.
4.) 63% of respondents say they expect their organizations’ investments in AI to increase over the next three years.

Find the original report here

Heidy Modarelli handles Growth & Marketing for IPR. She has previously written for Entrepreneur, TechCrunch, The Next Web, and VentureBeat.
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