Khaberni - Until now, most discussions about artificial intelligence and productivity have been theoretical or focused on inputs rather than outcomes. It is natural for investors to focus on capital expenditure, infrastructure development, and companies supporting the AI supply chain.
What has been difficult to observe, and easy to overlook, is whether artificial intelligence has actually changed the way companies operate. However, this situation has begun to see a significant shift, according to a report by the «Financial Times».
On a macroeconomic scale, productivity has not shown a clear acceleration, leading some commentators to say that artificial intelligence is just another overestimated technology cycle whose benefits will take years to realize. However, this view may overlook a more specific and precise transformation.
The aggregated data hide the most important effects in the markets, represented by the clear distinction between winners and losers.
It is unlikely that the returns on investment from AI-driven productivity gains will be evenly distributed among economies or sectors, given the differences in use cases, levels of investment in artificial intelligence, and variations in profit margins and initial valuations.
According to Gerry Fowler, Head of European Equity Strategy and Global Derivatives Strategy at «UBS», the most important early indicator observable in corporate data is the improvement in sales per employee and operating margins.
These improvements are particularly significant in sectors with slim profit margins, where even modest efficiency gains can have a significant impact on profits.
Here are some examples identified by the newspaper's report on the areas where AI is making a tangible change within some companies:
An AI-supported supply chain automation system at the retail chain «Walmart» has reduced unit costs in distribution centers by up to 30%, allowing the company to increase its revenues without the need to increase the number of employees.
In many retail companies, artificial intelligence is enhancing employee productivity instead of replacing them, by redirecting labor towards higher value-added activities, focusing more on customer service.
Banks, being data-rich institutions, have already begun to realize gradual and sustainable productivity gains. For example, «J.P. Morgan» has identified about 450 AI use cases in areas including customer experience personalization, trading, and fraud management.
The digital assistant «Erica» belonging to Bank of America has handled billions of customer interactions, contributing to a 40% reduction in the volume of incoming calls to call centers.
Although these improvements are not yet radical, they are ongoing. For banks that bear high fixed costs, even slight improvements in the cost-to-income ratios can lead to significant profit increases.
Company «Deere» utilizes the AI-powered «See and Spray» technology to reduce the use of certain chemicals by up to 60%, and the company expects that recurring services will account for 10% of equipment sales by 2030.
Company «Grainger», a global supplier of industrial equipment, relies on artificial intelligence to improve inventory management and customer service, having recorded a service level improvement of about 2.5 percentage points.
In the aviation sector, «Rolls-Royce» has saved 180 million British pounds in costs of supplied products, thanks to decision-making models supported by artificial intelligence.
In the software and IT services sector, artificial intelligence is already achieving tangible cost savings and expanding profit margins.
The AI tools at «SAP» have achieved savings of 300 million euros during 2025, and these savings are expected to rise to 500 million euros.
In the payments sector, companies like «PayPal» and «FIS» have seen developer productivity increases ranging between 10% and 30%, due to the use of generative AI in programming.
The biggest stock market winners may come from unexpected sectors, especially those operating with low profit margins and high labor intensity, as a slight increase in sales per employee or a modest reduction in unit costs could result in significant profit increases.
