千家公司年报，看AI在A股的“渗透率”

Market Penetration - AI penetration in A-shares remains low, with less than 20% of companies mentioning AI in their 2023 annual reports[51] - TMT sector shows the highest penetration, with over 70% of companies in the computer industry involved in AI[51] - More than half of the primary industries have an AI penetration rate below 10%, with sectors like food and beverage, agriculture, and coal having minimal involvement[51] Investment and Development - Companies primarily adopt self-research strategies, especially in the foundational layer, while consumer-oriented firms tend to collaborate[40] - The number of companies mentioning AI has increased significantly from 172 in 2020 to over 1,200 in 2023[51] - Future investment focus areas include application scenario expansion, technology research, and product development[40] Output Effectiveness - Most industries are in the output phase, focusing on quality improvement and efficiency enhancement, with revenue growth still in early stages[5] - Companies that emphasize cost reduction have seen a notable increase in gross margins, while revenue expansion remains less pronounced[5] - The expected effects of AI vary by company stage, with a decrease in efficiency improvement expectations but an increase in quality and profit growth expectations[5]