Analysis shows: even garbage trucks are already profiting from AI

Major investments by American companies in artificial intelligence (AI) are beginning to show results — and not just among tech giants. The second-quarter earnings season, which has concluded for nearly 90% of companies in the S&P 500, indicates that more companies are successfully translating the use of AI into cost savings, productivity improvements, and increased profitability.

According to an analysis by the research firm 22V Research, 25 companies in the index that quantified the impact of AI reported an average improvement of 1.8 percentage points in their profit margin. Excluding companies that linked the AI contribution to additional efficiency measures, the average improvement stood at 1.5 percentage points. This figure is particularly striking compared to the first quarter, when only 17 companies detailed how AI contributed to their profitability, with an average improvement of only 0.2 percentage points.

One of the most prominent examples comes from the waste management company Waste Management. The company stated that its Smart Truck system is already generating more than $300 million a year in operating cash flow profit, thanks to improved travel routes, service upgrades, and cost reductions. The company is also developing AI-based tools, autonomous trucks for long-haul transport, and remotely controlled heavy equipment.

In other sectors, tangible numbers are also beginning to be seen:

1. Logistics company CH Robinson reported that the use of AI has helped increase productivity by 60% since 2022.

2. Equifax stated that cost savings and productivity improvements related to AI had already begun to manifest in 2026.

3. Willis Towers Watson expects savings of $400 million, mainly through process automation.

4. Fortinet reported that its operating profit margin improved in the second quarter by 4.9 percentage points.

Investors are also beginning to reward companies that show measurable improvement: Johnson Controls stock has risen by 11% since the publication of its reports, after 22V estimated that its profit margin was expected to improve by 2.6 percentage points.

The data eases the market's fear that massive spending on AI will not translate into profits. According to Bloomberg Intelligence, executives at 43 S&P 500 companies have already said that AI is contributing to their profitability, and at 85 companies it was said that it supports profit improvement to some extent. Only at three companies did executives explicitly reject the claim that AI contributes to profitability.

The next test will be whether the phenomenon becomes broad enough to affect the entire index. According to 22V, if a similar improvement in profitability spreads to a larger portion of companies in the S&P 500, it could justify an increase of at least 10% in the index.