Artificial intelligence has been a focus topic for the market. Given the heightened interest, have more S&P 500 companies than normal commented on “AI” during their earnings conference calls for the first quarter?
The answer is yes. FactSet Document Search (which allows users to search for key words or phrases across multiple document types) was used to answer this question. Through Document Search, FactSet searched for the term “AI” in the conference call transcripts of all the S&P 500 companies that conducted earnings conference calls from March 15 through June 4.
Of these companies, 210 cited the term “AI” during their earnings calls for the first quarter. This number is well above the 5-year average of 114 and the 10-year average of 72.
In fact, this is the fifth consecutive quarter in which more than 200 S&P 500 companies have cited “AI” on their earnings calls.
At the sector level, the Information Technology sector has the highest number (61) and percentage (94%) of companies citing “AI” on Q1 earnings calls.
It is interesting to note the number of S&P 500 companies citing “AI” on earnings calls declined by 14% quarter-over-quarter (210 vs. 243). Eight of the eleven sectors recorded a quarter-over-quarter decrease in the number of companies citing “AI” on their earnings calls, led by the Industrials (-7) and Consumer Staples (-6) sectors.
However, the previous quarter also marked the highest number of S&P 500 companies citing “AI” on earnings calls going back at least 10 years. The number recorded for Q1 2025 (210) was consistent with the numbers recorded for Q3 2024 (212), Q2 2024 (212), and Q1 2024 (214).
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