The early adopters of AI productivity and their use cases – Goldman

Goldman Sachs analysts put together a list of companies that have discussed already adopting artificial intelligence and that have identified productivity benefits during their fourth quarter earnings calls.

These stocks are constituents of an early “fourth phase” of the AI adoption process.

Ryan Hammond, vice president of U.S. Equity Strategy at Goldman Sachs, said that specific use cases included customer support, coding and engineering, and supply chain and inventory management.

According to several surveys, we are still in the early stages of widespread AI adoption, said Hammond. A U.S. Census Bureau survey showed that 5% of companies are using AI in the production of goods and services, but a recent Federal Reserve paper showed that the share has increased to 20% with some adjustments.

The following are early AI productivity adopters – S&P 500 (SP500) companies that offered on their fourth quarter earnings calls specific examples of how they are using AI to enhance productivity internally.

For operations, examples include (AIG), (BK), (C), (NDAQ), (MCK), (UNH), (TMUS), (F), (KMX), (BR), (GWW), (LDOS), (RTX), (CTSH).

For customer support, examples include (CHTR), (T), (ABNB), (AMZN), (RCL), (EBAY), (CNC), (FDX), (PAYC), (IT), (PSA).

For engineering and coding, (GOOGL), (BKNG), (EXPE), (WMT), (SPGI), (CNC), (HCA), (GD), (GDDY).

For supply chain and inventory management, (AMZN), (RL), (EL), (ADP), (WMT), (TGT).

For employee efficiency, (CHTR), (MSCI), (SPGI), (DGX), (PAYC), (PAYX), (CRWD), (ENPH), (MSFT), (GDDY), (IT), (PSA).

For marketing purposes, (EXPE), (KO), (TGT).

And for general operations, examples included (TMUS), (EBAY), (F), (KMX), (AIG), (V), (C), (AMP), (MCK), (UNH), (BR), (GWW), (JCI), (RTX), (DELL), (GDDY), (INTU), (SNPS), (NRG), (SLB), (CVX), (OXY).