The latest annual McKinsey Global Survey on the currentstate of AI confirms the explosive growth of generative AI(gen AI) tools. Less than a year after many of these tools debuted, one-third of our survey respondents say their organizations are using gen AI regularly in at least one business function. Amid recent advances, AI has risen from a topic relegated to tech employees to a focus of company leaders: nearly one-quarterof surveyed C-suite executives say they are personally usinggen AI tools for work, and more than one-quarter of respondents from companies using AI say gen AI is already on theirboards’ agendas. What’s more, 40 percent of respondents say their organizations will increase their investment in AI overall because of advances in gen AI. The findings show that these are still early days for managing gen AI–related risks, with less than half of respondents saying their organizations are mitigating even the risk they consider most relevant: inaccuracy.