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With artificial intelligence, business profits can grow by as much as 20%

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This is what emerges from a new study by McKinsey, “The state of AI” which, however, for 2020 records a slight decline in the adoption of artificial intelligence

by L.Tre.

From startup, anti-crisis artificial intelligence for small businesses

This is what emerges from a new study by McKinsey, “The state of AI” which, however, for 2020 records a slight decline in the adoption of artificial intelligence

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There are still few, but the companies that adopt technologies and processes with artificial intelligence algorithms at the center are beginning to see the first results also on the income statement. A new study by Mckinsey “The state of Al” he is even more optimistic than in the past and writes: «Organizations use AI as a tool to generate value. Increasingly, this value comes in the form of revenue. A small group of respondents from various industries allocate 20% or more of their organizations’ earnings before interest and taxes (EBIT) to AI. These companies plan to invest even more in AI in response to the Covid-19 pandemic ».

In general, we read, artificial intelligence is now used by structured organizations to experiment with new processes within the articulation of their business. The main areas that companies invest in AI to reduce costs are the optimization of human resource management and the automation of contact centers and warehouses. But the potential is much wider and more and more companies are also venturing to a less conservative use of predictive algorithms. In other words, AI is no longer just a tool for automating processes or analyzing the market. “Most respondents at top performing companies have increased investment in each of their key business functions in response to the pandemic, while less than 30 percent of other respondents say the same.”

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If we look at the sectors, respondents in automotive and healthcare and pharmaceuticals are the most likely to say they have increased investment. Looking broader this year, however, there has been a slight decline in the growth of AI adoption, probably due to the passing of the promotion phase of this technology.

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