The role of Artificial Intelligence (AI) now extends to all business functions, but in two of them the role is particularly high. The first one of them is marketing and sales where AI impacts business worth US$ 2.6 trillion. The other one is supply chain management worth two trillion. Other functions such as risk, HR, product development, finance, IT and service operations have a much smaller pie as of now according to business intelligence provided by the McKinsey Global Institute.  One industry is particular that is showing much promise for AI usage in marketing is retail which is already worth five-hundred billion dollars in terms of AI usage. Another industry with the same overall value is that of consumer-packaged goods. Banking is another to keep an eye on with increased margins.

Source:https://www.mckinsey.com/featured-insights/artificial-intelligence/five-fifty-real-world-ai?cid=fivefifty-soc-twi-mgi-mgi-oth-1806&kui=1EJ9eNZ-MV-uuDAyc2-RSA

Uploaded Date:25 August 2018