AI Adoption Tracker July 2026 Adoption Rises to 21.5

Economics Research 31 July 2026 | 2:48PM EDT

July 2026: Adoption Rises to 21.5%

n We update our AI adoption tracker through July 2026. Sarah Dong | Goldman Sachs & Co. LLC n AI-related investment growth remains strong, particularly for semiconductors, Joseph Briggs where equity analysts expect global revenue to reach $834bn (ann.) by the end | of 2026. Consensus revenue forecasts for memory producers has been revised Goldman Sachs & Co. LLC

up by $174bn (ann.) since the public release of ChatGPT in November 2022. AI-related hardware investment in the US national accounts also continues to rise and now stands at $463bn (3-month annualized average; 1.4% of GDP) above its 2022 level. AI-related hardware shipments from Taiwan have grown by 72% since 2022 and US AI hardware net imports rose further to $55.7bn in May. n AI adoption by firms rose by 0.9pp to 21.5% among US establishments (with adoption expected to rise to 24.3% in the next 6 months) according to the Census Bureau’s Business Trends and Outlook Survey (BTOS). Information, professional services, and finance firms continue to lead adoption. At a detailed subsector level, computing, broadcasting, and web search firms have reported adoption levels at or exceeding 50%, and healthcare and social assistance firms report the largest expected increase in adoption over the next six months. Establishments with over 250 employees continue to lead in adoption (38.3%; latest six survey average) and the adoption gap between firms with 250+ employees and less than 10 employees has widened from 13.2pp to 18.2pp since February. Other business surveys note that 47% of surveyed US employees said their organization has adopted AI, up from 41% last quarter. n AI’s labor market impact remains visible but narrow. We continue to observe employment drags in specific industries where AI-use cases have been established such as marketing, graphic design, customer service, and some tech occupations. However, this is offset by construction job growth in data center-exposed categories, which is up 290k since 2022 (relative to broader construction employment trends) and around 14k per month (latest 6m trend). The tech share of total employment continues to decline relative to the pre-2022 trend. The correlation between AI adoption and broad labor market slack measures remains limited, but there are early signs of a negative relationship with job growth and hours growth. Corporate layoffs attributed to AI accelerated to 14k employees in June, bringing the 2026H1 total to 102k. 25% of Russell 3000 companies mentioned AI and labor-related keywords in 2026Q2 earnings calls thus far.

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Goldman Sachs AI Adoption Tracker

n We continue to observe large impacts on labor productivity in the limited areas where generative AI has been deployed. Academic studies imply a 23% average uplift to productivity, while company anecdotes imply slightly larger efficiency gains of around 32%. Industries with higher AI adoption rates are now showing a slight acceleration in productivity growth over the past year in official US data.