The Data on AI
By Christopher Steiner
We used our data to search for companies who employ at least 200 data scientists, hold at least 7 AI-related patents, but who almost never mention AI or related terms in their investor materials (earnings transcripts, 10Ks, 10Qs).
Some of these companies may prefer to keep their AI work more shielded from competitors and the market, or they might not want publicity on how they're using it in relationship with consumers.
Despite being known primarily for its leadership in oil and gas, ExxonMobil has quietly developed a robust AI strategy. With over 200 data scientists on staff and more than 7 AI-related patents, the company has been leveraging AI to optimize various operational aspects, including predictive maintenance and supply chain efficiencies. This allows ExxonMobil to cut costs and reduce downtime, giving it a competitive edge in resource extraction. However, ExxonMobil’s earnings transcripts contain almost no discussion of AI, indicating a preference to keep its AI-driven innovations out of the spotlight.
Eli Lilly, a global pharmaceutical leader, is using AI extensively in drug discovery and development, yet mentions of AI in its investor communications remain limited. With more than 200 data scientists and 7+ AI-related patents, the company is leveraging AI to accelerate clinical trials and identify potential drug candidates. Despite these efforts, Eli Lilly prefers to keep its AI investments low-key, possibly to avoid disclosing too much about its proprietary methods and competitive advantages to other industry players.
Johnson & Johnson, a giant in the healthcare and pharmaceutical space, is working on AI initiatives primarily in medical research and supply chain optimization. With a robust AI-related patent portfolio and a large team of data scientists, J&J has been improving its operational efficiency and product innovation. Despite these advancements, the company rarely mentions AI during its earnings calls, indicating that it prefers to keep this work behind the scenes.
Very few mentions of AI in any of these companies earnings transcripts.
Walmart, the largest retailer in the world, has been quietly using AI to enhance supply chain logistics, demand forecasting, and in-store operations. The company employs a large team of data scientists and holds numerous AI patents, focusing on innovations that improve inventory management and the customer experience. However, mentions of AI in Walmart's earnings transcripts are scarce, indicating that its AI work remains mostly under the radar.
American Express, known for its financial services, is leveraging AI for fraud detection, customer insights, and risk management. Despite having a significant number of AI patents and over 200 data scientists, American Express has been largely silent on these efforts in its investor calls. The company's AI work remains a crucial but hidden part of its operations.
Caterpillar is a leader in construction and mining equipment, and it has been working extensively with AI to automate its heavy machinery and improve predictive maintenance. Although the company holds a sizable number of AI patents and employs many data scientists, it seldom highlights AI in its public discussions, possibly to avoid disclosing too much about its technological advancements.
Companies in this spotlight have piled up at least 7 AI-related patents over the years. Sometimes this IP can be really valuable, sometimes it quickly falls behind trends and new advances.
Chevron has been quietly adopting AI technologies to optimize its energy operations, from predictive maintenance of equipment to enhanced exploration and production activities. With more than 7 AI-related patents and a large team of data scientists, Chevron is using AI to improve efficiency and reduce costs, yet it mentions AI very rarely in its earnings transcripts.
Allstate has 30 AI-related patents and employs 250 data scientists. Despite being deeply involved in AI development, especially in areas such as risk modeling and customer experience improvements, the company rarely mentions AI during investor discussions. Allstate’s focus on AI is likely geared toward optimizing internal processes like claims management and underwriting rather than outward-facing AI innovations. This relatively quiet approach reflects a strategy of embedding AI into operational efficiency without drawing significant attention to it in earnings calls.
The graph on CapEx spending offers some visibility to how companies in this bunch have been spending cash during the last decade during this ramp up to more AI being in enterprises.
Boeing is leveraging AI in the design and manufacturing of aircraft as well as for operational efficiencies in production. The aerospace giant employs hundreds of data scientists and holds multiple AI patents. However, AI is rarely mentioned in Boeing’s investor communications, reflecting a cautious approach to revealing its advancements in public forums.
The Home Depot is using AI to improve inventory management, customer service, and supply chain logistics. With a strong team of data scientists and over 7 AI patents, the company has been steadily enhancing its operations through AI. However, like many others on this list, The Home Depot rarely mentions AI during its investor calls, keeping its strategies more discreet.