Worried about the impact of AI on employment? These US stocks need attention.
Companies that have the most exposure to generative AI may have higher cash flows, lower labor costs, and higher market valuations.
Artificial intelligence continues to develop at a dazzling speed. Especially with the emergence of ChatGPT, it seems to only accelerate the application of AI technology in the daily operations of companies.
However, a new study compared how much employees of the largest companies in the United States are exposed to generative AI and found that companies with the most exposure may have higher cash flows, lower labor costs, and higher market valuations.
Companies with complementary labor costs and generative AI will see higher cash flows because technological improvements complement their workforce.
Among the 15 largest companies listed by the researchers, IBM ranked first, followed by Intuit, Qualcomm, Fiserv, and Nvidia.
IBM CEO Arvind Krishna acknowledged the significant risk, stating that "I can easily see that 30% of our employees will be replaced by AI and automation within five years among our 260,000 employees."
Microsoft ranked ninth. According to a memo released by Business Insider, CEO Satya Nadella will freeze the salaries of his full-time employees this year, citing the need to invest in "the significant transformation of the AI era."
According to ChatGPT's evaluation of various professions' task execution, eight of the 15 largest US companies with the highest exposure to AI are in the information industry, and six are in the manufacturing industry. S&P Global, Broadcom, Verizon Communications, and 3M are among the top ten.
Among the 15 companies least affected, two are in the food service industry, seven are in the retail industry, three are in the transportation and warehousing industry, and two are in the manufacturing industry.
Starbucks, McDonald's, Dollar General, Target, and Walmart are the top five companies with the least risk exposure.
The study found that the most affected professions are those with a high proportion of unconventional cognitive analysis tasks or routine cognitive tasks, while physical labor is relatively unaffected.