Morgan Stanley Finds Measurable AI Gains at 44% of S&P 500 Firms

Morgan Stanley found measurable artificial intelligence benefits at 44% of S&P 500 companies, up from 32% a year earlier, indicating that reported gains now span nearly half the index. The bank’s review covered about 18,000 corporate transcripts. Twenty-six percent of companies tied AI to lower costs or new revenue, compared with 16% a year earlier. Productivity was the most frequently cited benefit, mentioned by 32% of companies. Financials led the sector breakdown, with 67% of companies reporting tangible improvements. Communication services followed at 61%, and information technology came in at 51%. AI-related expenses also appeared more often. The share of S&P 500 companies mentioning those costs rose to 22% from 8% over the past 12 months.

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