Research: ”Businesses who adopt AI could increase their value by 120 percent”

New research shows that adopting AI is becoming a necessity for European companies

New research from McKinsey and Quantumblack suggests UK businesses adopting AI could see their value increase by 120 percent within a decade. AI overall could provide a 22 percent GDP boost worth millions to the UK economy, according to the research.

Furthermore, the researchers warn that firms which do not integrate AI into their day-to-day business risk around 20 percent of their cash flow today. By 2030, they claim, simulations show that at least 70 % of companies could have adopted some sort of AI technology and around 50 % might have fully embraced all the five categories of AI: computer vision, natural language, virtual assistants, robotic process automation, and advanced machine learning.

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