During the second quarter earnings calls, S&P 500 companies have shown increased enthusiasm for artificial intelligence (AI) compared to the previous quarter. The discussion of AI surged significantly, with many companies emphasizing their plans related to AI technology and generative AI to offer new services and enhance efficiency across various industries.
Intel, despite a 15 percent decline in data center and AI business sales, mentioned AI 58 times on its recent call, up from 15 times in the previous quarter. Alphabet and Microsoft also significantly increased their mentions of AI during their analyst calls, with AI being mentioned 62 times and 58 times, respectively.
A Reuters analysis revealed that over a third of S&P 500 companies reporting their results in recent weeks included at least one mention of AI during their conference calls, compared to about a quarter in the previous quarter. The terms “AI” or “artificial intelligence” were uttered 827 times on 76 calls out of a total of 221 calls, equating to an average of 3.7 mentions per call, more than double the previous quarter.
While technology giants dominated the discussions about AI, non-tech companies also highlighted their use of AI in various areas. Companies such as Moody’s, S&P Global, Travelers Companies, Omnicom Group, Equifax, and Digital Realty Trust mentioned AI extensively in their calls, indicating the widespread adoption and application of AI across different sectors. The surge in AI discussions reflects Wall Street’s growing optimism about the potential of AI technologies to drive innovation and improve business processes
