McKinsey – Implementing generative AI with speed and safety

Generative AI (gen AI) has the potential to bring transformative impact to companies, with the ability to create software code, text, speech, images, and videos. McKinsey research suggests that gen AI could add up to $4.4 trillion in economic value globally and enhance the impact of all AI by 15 to 40 percent. However, while many organizations see implementing gen AI as a high priority, they also recognize the significant risks involved. These risks range from inaccurate outputs to misinformation and malicious influence. By applying proven risk management approaches to gen AI, companies can move forward responsibly and capture the value of the technology. This is important as the regulatory environment around AI continues to evolve, with moves from both the United States and the EU to regulate AI development and use. Adapting to these regulations will allow companies to operate effectively and address risks while continuing to innovate with gen AI.