15% of Companies Report Tangible Benefits from Machine Learning in H1: Morgan Stanley

15% of Companies Report Tangible Benefits from Machine Learning in H1: Morgan Stanley

Crypto News – During the first half of the year, a report from the prominent banking institution revealed that approximately 15% of companies were able to measure tangible gains in terms of revenue or cost savings by implementing machine learning technology.

Morgan Stanley‘s recent research report, published on Monday, highlighted a noticeable surge in discussions about artificial intelligence (AI) during the first half earnings season. Within this period, around 15% of companies across various sectors were able to quantify specific revenue or cost advantages resulting from the utilization of machine learning. The analysis identified a total of 316 companies that met the criteria, out of which 106 explicitly cited substantial business enhancements achieved through the deployment of AI or machine learning.

Edward Stanley and his team of analysts noted that among these companies, 29 were able to quantify the potential for increased revenue, while 36 outlined measurable cost reductions or productivity improvements. Additionally, 12 firms discussed how AI-driven improvements in customer service and in-house operations were the most accessible benefits. Eight companies recognized the efficiency of bringing creative advertising in-house and streamlining it, and a substantial number of 82 comments made qualitative references to revenue or cost advantages. The majority of this trend was observed in the United States, according to the research note.

Morgan Stanley’s study encompassed global companies with a market capitalization exceeding $10 billion, all of which had reported their financial results since July 1. Notably, the primary focal points among non-tech companies in terms of earnings were biopharmaceutical gains facilitated by AI in areas ranging from strain selection to regulatory submissions. Large-cap banks also highlighted AI’s impact on cost savings and customer service enhancement, specifically mentioning autonomous and in-house customer service applications. Moreover, legal use cases, from generating summaries to drafting legal documents, were also identified across various reporting companies.

In a related perspective, Goldman Sachs, a prominent competitor on Wall Street, forecasted that the adoption of AI is likely to have a substantial influence on the U.S. economy sometime between 2025 and 2030.