The 'AI' Craze Sweeping US Earnings Calls: "From Big Tech to Pharma, Everyone's Shouting AI"

1072 Mentions During S&P500 Earnings Announcements
MS, Alphabet, Apple Joined by Expedia, Moderna, and Others

The artificial intelligence (AI) craze that began with the launch of ChatGPT has continued since early this year, dominating earnings conference calls of U.S. companies. Not only big tech firms but also pharmaceutical companies and food manufacturers mentioned AI, proving it is truly the 'trend'.

On the 7th (local time), Bloomberg analyzed AI-related mentions during earnings conference calls conducted by S&P 500 companies for the second quarter of this year (based on earnings announcements in April-May) and found a total of 1,072 mentions. Bloomberg reported that 80% of S&P 500 companies had held conference calls by the 4th.

[Image source=AP Yonhap News]

According to Bloomberg, the number of AI or AI synonym mentions in S&P 500 companies' conference calls surged from 433 in the fourth quarter of last year to 993 in the first quarter of this year, surpassing 1,000 in the second quarter. The AI craze, which started with the public release of ChatGPT at the end of November last year and attracted great attention early this year, appears to have continued throughout the first half of this year.

Online travel agency Expedia Group announced its first-quarter earnings on the 4th, stating that it is actively adopting and using AI, including integrating ChatGPT into its iOS application (app). It attributed the increase in total bookings in the first quarter to the effects of AI adoption.

Global pharmaceutical company Moderna revealed that it has opened a technology hub in Seattle and is striving to expand AI-related technologies, while food manufacturer Kraft Heinz stated that AI algorithms are expected to help reduce waste.

Leaders of big tech companies, who are inevitably the most sensitive to AI technology development, openly shared their thoughts on AI. Microsoft (MS), Alphabet, Google's parent company, and Meta Platforms, Facebook's parent company, continuously made AI-related remarks throughout their conference calls. Meta CEO Mark Zuckerberg spent six minutes explaining AI but mentioned the metaverse for less than a minute, reflecting current interests.

Apple CEO Tim Cook also said during the fiscal 2023 second-quarter earnings conference call held on the 4th, "The potential of AI is great," explaining that Apple has used machine learning and AI features for functions such as crash detection and heart rate monitoring and will continue to integrate AI technology into Apple products.

Bloomberg described AI as "the hot topic of this quarter's earnings calls," noting that besides S&P 500 companies, Coinbase, the largest cryptocurrency exchange in the U.S., also discussed the impact AI may have on the industry.

This content was produced with the assistance of AI translation services.