After the entrance and buzz of generative AI (gen AI) led to surges in adoption and scaling, 2024 is the year organizations truly began using—and deriving business value from—this new technology. Today, the takers, shapers, and makers use gen AI models off the shelf, customize them with proprietary data, or develop them from scratch. But who is leading the pack, and what are they doing differently? Not surprisingly, say McKinsey’s Michael Chui and coauthors, only a small group of high performers report that a meaningful share of their organizations’ EBIT can be attributed to their deployment of the technology. These high performers use gen AI in more business functions, pay more attention to challenges, and follow a set of risk-related best practices.
