Organizations are increasingly implementing changes to harness the value of generative AI (gen AI), with large companies at the forefront. The latest McKinsey Global Survey indicates that businesses are reworking workflows and placing senior leaders in key roles to aid in AI governance as they aim for measurable impacts on their bottom line. More than three-quarters of respondents claim their organizations utilize some form of AI, with gen AI's adoption notably on the rise. Companies generating over $500 million annually are more agile in this transition compared to smaller firms. The survey reveals that CEO oversight of AI governance—a framework for responsible AI system deployment—is highly correlated with positive economic outcomes, particularly in larger companies. While 28% of respondents report CEO responsibility for AI governance, this figure is lower in larger organizations, where the board also shares oversight responsibilities. Workflow redesign is crucial; 21% of organizations using gen AI have significantly changed their workflows, which has the most pronounced effect on EBIT. Centralization of various AI deployment elements varies—risk management and data governance often adopt a centralized model, whereas tech talent and solution adoption are more frequently hybrid. Quality oversight of gen AI outputs is inconsistent; 27% of organizations review all AI-generated content, but the practices vary widely across industries. Many businesses are actively addressing risks tied to gen AI, such as inaccuracies, cybersecurity challenges, and intellectual property concerns, with larger firms better positioned to tackle these issues. Despite the initial stages of AI deployment, best practices for scaling are emerging, though only a minority of organizations report following these guidelines consistently. The most impactful strategy for value generation is establishing clear KPIs for gen AI solutions, particularly in larger organizations, which are also more likely to create adoption roadmaps and dedicated teams for AI initiatives. AI's influence is reshaping workforce needs; there is a steady hiring trend in AI-related roles, especially in larger firms, although filling these positions remains challenging.

Reskilling efforts are underway, with a positive outlook for future initiatives. Overall, as companies adopt AI, they are often redirecting saved time toward new activities or existing responsibilities, though larger firms are more likely to reduce staff due to automation's efficiency. While many anticipate minimal workforce changes due to gen AI, certain sectors, particularly financial services, expect reductions. Reported AI use rose to 78% in 2024, with organizations increasingly applying it across functions, particularly in IT, sales, and marketing, where usage is notably growing. Gen AI deployment is most frequent in marketing, product development, and IT. Respondents find value in AI, with increased revenue reported in units using gen AI, yet most have not seen significant bottom-line effects enterprise-wide. In conclusion, while organizations are exploring gen AI's potential, substantial value realization remains nascent. Larger firms are taking more proactive steps to ensure effective implementation and risk management. Future developments will shed light on how adherence to successful practices can drive significant benefits from gen AI as the technology continues evolving. **About the Research:** The survey conducted between July 16-31, 2024, captured insights from 1, 491 participants across diverse industries and regions, with 42% representing organizations with revenues exceeding $500 million. Data were weighted to reflect each nation's contribution to global GDP.