Over 60% of GCC businesses adopting Artificial Intelligence: McKinsey

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According to a recent report by McKinsey, more than 60% of businesses operating in the GCC (Gulf Cooperation Council) region have embraced artificial intelligence (AI) or integrated it into their operations. While AI adoption in the Gulf is still relatively low, it surpasses other regions such as North America, Europe, and Asia-Pacific.

However, the report highlights that only 23% of organizations have implemented AI across multiple business functions, which is crucial for unlocking its full potential. Vinay Chandran, Partner at McKinsey & Company, emphasized the importance of adopting AI more comprehensively to derive maximum value.

Retail companies in the Gulf have shown the highest adoption rates, with 75% using AI in at least one business function. Retailers leverage their vast amounts of data to gain insights into consumer behavior and inform pricing decisions. In contrast, the construction sector lags behind due to challenges in data collection and integration.

The energy and materials industry in the GCC has emerged as a leader in early AI investment, employing the technology to optimize maintenance efficiency, production, and distribution, driven by global competitiveness.

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We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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Over 60% of GCC businesses adopting Artificial Intelligence: McKinsey

According to a recent report by McKinsey, more than 60% of businesses operating in the GCC (Gulf Cooperation Council) region have embraced artificial intelligence (AI) or integrated it into their operations. While AI adoption in the Gulf is still relatively low, it surpasses other regions such as North America, Europe, and Asia-Pacific.

However, the report highlights that only 23% of organizations have implemented AI across multiple business functions, which is crucial for unlocking its full potential. Vinay Chandran, Partner at McKinsey & Company, emphasized the importance of adopting AI more comprehensively to derive maximum value.

Retail companies in the Gulf have shown the highest adoption rates, with 75% using AI in at least one business function. Retailers leverage their vast amounts of data to gain insights into consumer behavior and inform pricing decisions. In contrast, the construction sector lags behind due to challenges in data collection and integration.

The energy and materials industry in the GCC has emerged as a leader in early AI investment, employing the technology to optimize maintenance efficiency, production, and distribution, driven by global competitiveness.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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