Enterprise spending on generative AI reached roughly $37 billion in 2025, more than triple the prior year, according to McKinsey's State of AI report. The total split into about $19 billion on applications and $18 billion on infrastructure, with McKinsey placing the median year-over-year increase in AI budgets at 22 percent.

The spending trajectory is steep heading into 2026. Worldwide AI spending is projected to reach $2.59 trillion this year, a 47 percent increase over 2025. Yet the report finds that only 6 percent of organizations qualify as AI high performers with measurable bottom-line impact.

The returns data points to a widening efficiency gap. Only 39 percent of survey respondents attribute any level of EBIT impact to AI, and most of those report an impact of less than 5 percent. McKinsey notes that the efficiency of each dollar spent on AI has declined as the market broadens, meaning that doubling investment has not translated into doubled returns.

That disconnect between rising budgets and captured value sits at the center of the 2026 enterprise AI picture. Companies are increasing spend faster than they are proving financial payback, and analysts describe the scaling challenge as the defining problem for the year.

The figures suggest that the next phase of enterprise AI will hinge less on adoption rates and more on the discipline of measurement and deployment.

Source: McKinsey - https://www.mckinsey.com/capabilities/quantumblack/our-insights/the-state-of-ai