The data dividend: Fueling generative AI

Abstract

#AI #data #dataleaders

If your data isn’t ready for generative AI, your business isn’t ready for generative AI. Our latest research estimates that generative AI could add the equivalent of $2.6 trillion to $4.4 trillion in annual economic benefits across 63 use cases. Pull the thread on each of these cases, and it will lead back to data. Your data and its underlying foundations are the determining factors to what’s possible with generative AI. That’s a sobering proposition for most chief data officers (CDOs), especially when 72 percent of leading organizations note that managing data is already one of the top challenges preventing them from scaling AI use cases. The challenge for today’s CDOs and data leaders is to focus on the changes that can enable generative AI to generate the greatest value for the business.

Tipo de Publicação
articles-and-papers
Tema
artificial-intelligence
Publicado por
McKinsey Digital
Data de Publicação
2023
Idioma
english
Estado
open-access
Autores
Joe Caserta; Holger Harreis; Kayvaun Rowshankish; Nikhil Srinidhi; Asin Tavakoli