Goldman Sachs updates AI adoption tracker through October 2026

Investing.com -- Goldman Sachs released an update to its AI adoption tracker covering data through October 2026, showing continued growth in investment and business implementation.

AI-related investment growth remains strong, particularly in semiconductors. Equity analysts expect global semiconductor revenue to reach $872 billion on an annualized basis by the end of 2026. Gross profit forecast revisions since the third quarter of 2022 for AI-exposed global public companies currently stand at $1.1 trillion.

AI-related hardware investment in US national accounts continues to rise and now stands at $613 billion, measured as a three-month annualized average representing 1.9% of GDP, above its 2022 level. AI-related hardware shipments from Taiwan now stand 88% above September 2022 levels. South Korea tech exports rose by $8.8 billion to $56 billion in September.

The Census Bureau's Business Trends and Outlook Survey shows AI adoption by US establishments rose by 0.8 percentage points to 24.6%, with adoption expected to rise to 28.6% in the next six months. Adoption is approaching 50% in the information, professional, and finance sectors. At a detailed subsector level, computing, securities, and publishing firms continue to lead adoption. Over half of establishments with more than 250 employees expect to be using AI in the next six months.

Employment trends show specific impacts in industries where AI use cases have been established, including marketing, graphic design, customer service, and some tech occupations. Construction jobs exposed to data centers increased by 315,000 since 2022 relative to broader construction employment trends.

Three-month averages in nonmanufacturing payrolls and unemployment data show a statistically meaningful relationship with AI adoption at the subsector level, with higher adoption associated with weaker job growth and higher unemployment. Corporate layoffs attributed to AI affected 4,000 employees in September, bringing the total since May 2023 to 207,000. About 23% of Russell 3000 companies that have reported third quarter results had mentioned AI and labor-related keywords in their earnings calls.

Academic studies show a 23% average increase in productivity where generative AI has been deployed, while company reports indicate efficiency gains of around 32%. Industries with higher AI adoption rates are showing a slight acceleration in productivity growth over the past year in official US data.

You May Also Be Interested In

• Evercore ISI Upgrades Clorox (CLX) to In Line
• BioNano Genomics, Inc. (BNGO) files $400M mixed shelf
• Reddit (RDDT) PT Lowered to $125 at DA Davidson, 'Bottom line is we expect RDDT shares to be challenged in the coming quarter'