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AI has taken over Wall Street

In a small conference room at the bustling headquarters of a major tech company, a group of executives huddle around a speakerphone, eagerly awaiting the start of their quarterly earnings call. The topic on everyone's minds this quarter is artificial intelligence, or AI.

According to a recent analysis by FactSet, a staggering 199 companies in the S&P 500 mentioned the term "AI" during their earnings calls for the first quarter of this year. To put that number in perspective, it's well above the 5-year average of 80 and the 10-year average of 50. In fact, it's the highest number of S&P 500 companies citing "AI" on earnings calls since at least 2014.

So what are these companies saying about AI? A deeper dive into the earnings call transcripts reveals a wide range of perspectives and strategies. Take a look at this data visualisation by uptrends.

Some companies, like Microsoft and NVIDIA, are heavily investing in AI and touting its potential to transform their businesses. Others, like Meta Platforms (formerly known as Facebook), are using AI to improve their existing products and services, such as targeted advertising and content moderation.

But the discussion of AI isn't limited to just a few tech giants. Companies across a variety of sectors, from healthcare to finance to retail, are exploring the potential applications of AI in their industries. In fact, the Information Technology sector had the highest number and percentage of companies citing "AI" on their earnings calls, with 50 companies (91 per cent of the sector) mentioning the term.

One thing is clear: AI is no longer just a buzzword or a futuristic concept. It's a real and growing part of our global economy.

Source: Uptrend

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