Leading the charge, the Information Technology sector had 59 companies, representing 91% of its members, citing 'AI' in their earnings calls.

Conversely, those discussing 'AI' during Q2 earnings calls experienced a lower average stock price performance of 4.1% since June 30, compared to a 6.1% increase for others.

Companies that mentioned 'AI' have seen a higher average stock price performance of 12.2% since the beginning of the year, compared to 8.6% for those that did not.

During their earnings call on July 31, Zuckerberg also emphasized the use of AI to enhance recommendations and engagement on Facebook and Instagram.

In the second quarter of 2023, a record 210 S&P 500 companies mentioned 'AI' during their earnings conference calls, marking a significant increase.

This figure notably surpasses the five-year average of 88 and the ten-year average of 55 companies discussing 'AI'.

The second quarter of 2023 is now recognized as the second-highest number of companies mentioning 'AI' since at least 2014, just one shy of the record set in the first quarter of 2024.

CFO Susan Li pointed out AI's role in improving ad delivery and enhancing communication efficiency for businesses.

Meta Platforms' CEO Mark Zuckerberg highlighted AI's potential to optimize advertising by predicting user interests and generating creative content, alongside the launch of Meta AI and AI Studio.