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Goldman Sachs Says About Practice of Using AI by American Companies

New research from Goldman Sachs indicates that among American companies, the practice of using artificial intelligence technologies is being implemented on a limited scale and is not yet what can be described as a massive process.

Goldman Sachs Says About Practice of Using AI by American Companies

According to data that was recorded during the mentioned research, currently only 6.1% of American firms leverage machine intelligence to produce their products or services. It is worth noting that in the third quarter of 2024, the corresponding figure was fixed at 5.9%.

It is noteworthy that the highest level of integration of artificial intelligence into workflows was recorded among insurance companies and firms operating in the financial sector. At the same time, information, manufacturing, and educational companies reported a decrease in the adoption of machine intelligence.

Goldman Sachs noted large impacts on labor productivity in the limited areas where generative artificial intelligence has been deployed. In this context, it was underlined that academic studies state that the use of AI contributes to productivity growth by 23%, but at the same time, the experience of companies indicates an increase in the corresponding indicator by about 30%.

Goldman Sachs predicts the ongoing rise of investments in the area of artificial intelligence, especially in the semiconductor industry. The bank forecasts revenue growth of 37% by the end of next year in the mentioned industry.

It is worth noting that during the period of active development of artificial intelligence, the issue of cybersecurity has become more relevant. Scammers also have access to AI. To counteract the corresponding threat in a virtual environment, personal awareness of users is important. For example, an Internet search query such as how to know if my camera is hacked will allow anyone to get information about signs of unauthorized access to the device.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.