Artificial intelligence is reshaping jobs. Here are the companies to watch.

Artificial intelligence capabilities continue to advance at an astounding rate. The arrival of ChatGPT in particular only seems to have accelerated the adoption of AI technology in the day-to-day operations of companies. But determining the effects of AI on business was anyone’s guess. So far.

new research By comparing the amount of the workforce at the largest US companies exposed to generative AI, it is seen that companies with greater exposure can see higher cash flows, lower labor costs, and greater market valuations.

Companies whose labor costs are more fully integrated into generative AI will see higher cash flows due to technological improvements complementing their workforce.

Leading International Business Machines Corp. (Stock ticker: IBM) Researchers list the top 15 companies with the highest exposure to ChatGPT, an AI chatbot released in November by research lab OpenAI.

The next four are Intuit


Vserv and Nvidia

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IBM CEO Arvind Krishna has acknowledged significant exposure, telling Bloomberg News this month that of the company’s 260,000 employees, “I could easily see 30% of that being replaced by AI and automation over five years.”

Microsoft (MSFT), is ninth on the most exposed list. CEO Satya Nadella froze the salaries of his full-time employees this year, citing the need to invest in a “major platform shift in this new era of artificial intelligence,” according to a note published by Business Insider.

Of the top 15 US companies with the highest exposure to AI, based on ChatGPT’s assessment of tasks performed in various occupations, eight are in the information sector and six are in manufacturing. S&P Global, Broadcom

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Verizon connections

and 3 million complete the top ten.

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Of the 15 companies with the least exposure, two operate in the food services sector, seven in the retail trade sector, three in transportation and warehousing, and two in manufacturing.


McDonald’s Dollar General

Target and Walmart are the top five in the group with the least exposure.

“Our premise is that tasks performed by workforces in companies with high exposure can be performed more easily through generative AI applications than tasks performed by workforces in companies (and industries) with less exposure,” wrote three finance professors in the paper. The report published last week.

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“At the company level, whether AI is positive or negative for value hinges on the extent of exposure of its workforce, and the extent to which incumbents versus new entrants can benefit from technological improvements,” Andrea L. said chair and professor of finance at the UCLA Anderson School of Management Barron.

Some of the findings contradicted previous research and assumptions about AI and employment: the study found that the occupations most affected were actually those with a high share of non-routine cognitive analytical tasks or routine cognitive tasks, while manual physical tasks were relatively unaffected.

IBM said Barron It actively employs thousands of jobs. “IBM is thoughtful and thoughtful in hiring us with an emphasis on revenue-generating roles, and we are very selective when filling positions that do not directly touch our customers or technology.”

Intuit (INTU), NVIDIA (NVDA), and Microsoft declined to comment on the study. Starbucks (SBUX), McDonald’s (MCD) and Dollar General (DG) could not immediately be reached for comment.

In addition to Eisfeldt, the study was conducted by Gregor Schubert, assistant professor of finance at the Anderson School. and Miao Bin Chang, assistant professor of finance and business economics at USC Marshall School of Business.

“Although we do not take a position on whether generative AI is a substitute for or complement to employment with higher exposure, our work shows that firms with a greater share of occupations exposed to AI generate value gains across a wide variety of industries,” they write. .

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This new research indicates that AI is beneficial for companies with greater exposure. But whether that’s good or not is up to you Workersie, whether or not it can replace employment in these industries remains to be seen.

When asked what employees of companies like IBM should take away from the study, Eisfeldt said AI could help make workers more productive. “Although these companies may restructure their workforce, the final impact on employment in general remains positive,” she said. Barron.

“For many jobs, AI tools can take over repetitive or redundant tasks, allowing employees to focus their efforts on areas where human creativity and insight are particularly valuable. As a result, some jobs may become more involved for the worker and more valuable for the company, as long as they are Workers are ready to adapt to the change in responsibilities.

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Write to Janet H. Cho at [email protected] and to Stevie Rosignol-Cortez at [email protected]

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