Written by: Rita

The AI adoption rate among American businesses has risen to 21.5%, an increase of 0.9 percentage points from last month, with expectations to reach 24.3% in six months. Goldman Sachs pointed out in its July AI adoption tracking report that AI is transitioning from the proof-of-concept stage to the practical deployment stage. Semiconductor revenues are expected to reach $834 billion by the end of 2026, and investments in AI-related hardware have already surpassed the 2022 level of $463 billion, accounting for 1.4% of GDP. Goldman Sachs believes that the economic penetration of AI is accelerating, but the impact on the labor market is still concentrated in specific industries and has not yet spread broadly.

Enterprise adoption rate surpasses 21%, gap between large and small enterprises continues to widen

The U.S. Census Bureau's business trends and outlook survey shows that 21.5% of U.S. businesses are using AI in their regular operations. It is expected that the adoption rate will rise to 24.3% in six months, with about 3 percentage points of growth space in the next half year.

The information sector has the highest adoption rate, followed closely by professional services and finance. In sub-sectors, the adoption rates for computing infrastructure, broadcasting, and online search have reached or exceeded 50%. These industries are direct beneficiaries of AI infrastructure and are among the first to embed AI into core business processes.

The healthcare and social assistance industry is expected to see the largest adoption increase in the next six months. Goldman Sachs believes this reflects a growing recognition among more enterprises of the potential applications of AI in clinical documentation, medical image analysis, and patient communication.

Large enterprises continue to lead in adoption rates. The adoption rate for companies with over 250 employees is 38.3%, while for companies with fewer than 10 employees, it is only 20.1%, widening the gap from 13.2 percentage points in February to 18.2 percentage points. Goldman Sachs believes that this gap indicates that the fixed costs and technical barriers of AI deployment continue to restrict the adoption speed of small and medium-sized enterprises, while the first-mover advantage of large enterprises is expanding.

Other business surveys also confirm this trend. A Gallup survey shows that 47% of U.S. employees report that their organizations have adopted AI, up from 41% in the previous quarter. The percentage of individuals using AI in their work has risen to 52%. Writing and editing (51%), research and searches (49%), and general assistance or problem-solving (39%) are the most common application scenarios.

Semiconductor revenue expected to reach $834 billion, AI hardware investment accounts for 1.4% of GDP

Investment in AI-related fields remains strong. The semiconductor sector exhibits the most significant revenue growth, with analysts expecting global semiconductor revenues to reach $834 billion annually by the end of 2026. Since the public release of ChatGPT, revenue forecasts for memory manufacturers have been raised by a total of $174 billion.

AI hardware investment in the U.S. national accounts continues to rise. Goldman Sachs estimates that AI-related hardware investments have exceeded the 2022 level by $463 billion (three-month annualized average), accounting for 1.4% of GDP. This figure reflects the capital expenditure intensity of hyperscale firms and cloud service providers on GPUs, custom chips, and networking equipment.

Shipments of Taiwan's AI-related manufacturing industry have grown by 72% since 2022. U.S. net imports of AI hardware further rose to $55.7 billion in May, as domestic capacity still cannot meet demand, deepening supply chain dependencies. Goldman Sachs believes that the continued growth in hardware investment validates the increase in AI adoption rates, with enterprises procuring computing power that supports applications.

Data center construction jobs increase by 290,000, AI layoffs reach 102,000 in the first half of the year

The impact of AI on the labor market is visible but still concentrated. Goldman Sachs continues to observe job struggles in areas such as marketing, graphic design, customer service, and some tech positions, which are fields where AI application scenarios have been clearly established.

However, AI is also creating new job demand. Construction jobs related to data centers have increased by 290,000 since 2022, which is a significant excess growth compared to the broader construction industry trend. The trend over the past six months shows an average of about 14,000 new jobs of this type added each month. The tech sector's share of total employment continues to remain below the long-term trend prior to 2022.

The proportion of corporate layoff announcements mentioning AI is on the rise. In June, layoffs due to AI involved 14,000 employees, with a total of 102,000 in the first half of the year. Among the Russell 3000 index constituents, 25% of companies mentioned AI and labor-related keywords during their second-quarter earnings calls in 2026.

Goldman Sachs believes there is still no statistically significant relationship between AI and unemployment rates or overall employment growth. The negative correlation between AI adoption rates and employment growth only shows preliminary signs and has not formed a systematic trend. The enhancement of labor productivity due to AI is significantly marked in already deployed areas. Academic research shows an average productivity increase of about 23%, with average efficiency improvements from business case feedback of about 32%. Industries with higher adoption rates in official U.S. data have already shown slight signs of accelerated productivity growth.

The penetration of AI is accelerating, but its disruptive impact is localized. Corporate adoption rates are increasing, hardware investments are expanding, and data centers are being built, all of which confirm the demand side. The impact of AI on employment is concentrated in specific roles and has not yet spread broadly. Goldman Sachs' judgment is: AI is reshaping the economic structure, which is a gradually unfolding structural change. 21.5% of businesses are already using it, and 47% of employees' organizations have already deployed it, but the market may still underestimate the depth of AI's integration into the economic system.

Disclaimer: This article is a summary and interpretation of a third-party brokerage research report (Goldman Sachs, July 31, 2026) by Chaoxiang Research, combined with publicly available market information. The ratings, target prices, earnings forecasts, and related judgments quoted in the article are the opinions of the brokerage analysts, representing the stance of their affiliated institutions, and do not represent the views of Chaoxiang Research, nor do they constitute any investment advice. The market carries risks, and decisions should be made independently. This article should not be used as the basis for buying or selling any securities.