McKinsey finds 31% of companies using AI build in-house software
A fresh McKinsey report finds that 31% of companies using AI are choosing to build their own software with AI coding tools, instead of buying it off the shelf.
Tech firms lead this trend (41%), but healthcare, professional services, energy and materials, and financial institutions aren't far behind.
Bigger companies are adopting these tools faster, about one-third of those making at least $1 billion a year have gone in-house, compared to just 17% of smaller businesses.
Nearly 90% use AI, limited profit
Even though nearly nine out of 10 surveyed firms use AI in some way, only about one-third say it's actually helped their bottom line so far.
High operational costs remain a hurdle for some, but most plan to keep investing more in AI anyway.
The survey covered over 1,700 people across almost 100 countries earlier this year.