The chairman of McKinsey Greater China revealed that nearly every company is experimenting with artificial intelligence (AI), yet very few are implementing deep organizational changes that lead to significant profit improvements. Most organizations view AI merely as a technical upgrade, while realizing its full potential requires fundamental shifts in organizational strategy and business models. The rapid advancement of AI has provided companies worldwide with opportunities to enhance performance, reduce costs, and improve customer service. However, McKinsey’s research and other global reports indicate that major obstacles, particularly the lack of organizational transformation, hinder the full benefits of AI adoption. In China, companies are promoting AI adoption, but only a handful have innovated their business strategies enough to see substantial profit growth. Additional challenges include skill shortages, investment issues, and data protection concerns. According to McKinsey’s chairman, companies that fully integrate AI into their culture and workflows will gain greater advantages from the technology; otherwise, AI’s impact will remain limited and profit increases will fall short of expectations. This trend is observed globally, where despite AI’s rising popularity, few organizations have realized its complete economic benefits. Therefore, companies should not treat AI as just a tool but place it at the core of their business strategies to achieve significant improvements in performance and profitability.
Source: coindesk
