The largest overall revenue increase through the use of embedded artificial intelligence (AI) programs came in marketing and sales, as well as product development. There revenue increases were reported in 70 percent of businesses worldwide. This business function, more than the others, can be easily automated or have costs reduced through targeted advertisement and marketing campaigns. The lowest overall revenue increase came in risk assessment, with barely 48 percent of respondents expecting some increase in revenue, with the majority being a less than five percent increase. This is likely due to the fact that risk assessment and mitigations is fraught with difficulties and unexpected events that AI programs find hard to account for. A good example is that in late 2019 few would have had a global pandemic at the top of their risk assessment.
Most significant business revenue increase through artificial intelligence (AI) globally in 2021, by function
Participants represented the full range of regions, industries, company sizes, functional specialties, and tenures.
Method of interview
Online survey
Supplementary notes
Source phrased the question as: "Revenue increase from AI adoption in 2021, by function, % of respondents"
Year surveyed was 2021 to account for fiscal numbers in annual reports.
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McKinsey & Company. (December 6, 2022). Most significant business revenue increase through artificial intelligence (AI) globally in 2021, by function [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1369008/ai-revenue-increase-by-function/
McKinsey & Company. "Most significant business revenue increase through artificial intelligence (AI) globally in 2021, by function." Chart. December 6, 2022. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1369008/ai-revenue-increase-by-function/
McKinsey & Company. (2022). Most significant business revenue increase through artificial intelligence (AI) globally in 2021, by function. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1369008/ai-revenue-increase-by-function/
McKinsey & Company. "Most Significant Business Revenue Increase through Artificial Intelligence (Ai) Globally in 2021, by Function." Statista, Statista Inc., 6 Dec 2022, https://www.statista.com/statistics/1369008/ai-revenue-increase-by-function/
McKinsey & Company, Most significant business revenue increase through artificial intelligence (AI) globally in 2021, by function Statista, https://www.statista.com/statistics/1369008/ai-revenue-increase-by-function/ (last visited November 21, 2024)
Most significant business revenue increase through artificial intelligence (AI) globally in 2021, by function [Graph], McKinsey & Company, December 6, 2022. [Online]. Available: https://www.statista.com/statistics/1369008/ai-revenue-increase-by-function/