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Intuit, Walmart, and JPMorgan point to AI-driven cost gains
Intuit used AI in TurboTax and QuickBooks and cut its workforce by 17% in the last quarter, while Walmart and JPMorgan are also highlighted for efficiency benefits tied to strong recent results.
MarketBeat Ratings highlights Intuit, Walmart, and JPMorgan Chase as “invisible AI” beneficiaries, arguing that firms outside core AI infrastructure can still use AI to reduce costs, improve efficiency, and support revenue growth.
For Intuit, the article says AI has been embedded into products including TurboTax and QuickBooks to help automate tasks such as categorizing expenses, drafting invoices, and generating financial forecasts. It also cites an earlier-quarter revenue gain of 10% year over year and non-GAAP earnings per share growth that beat guidance, with management raising full-year outlooks.
MarketBeat Ratings adds that AI has supported cost cutting at Intuit, with the company reducing its workforce by 17% in the last quarter. It also notes Intuit has a stated debt-to-equity ratio of 0.3 and a dividend yield of 1.7%.
The piece also points to Walmart and JPMorgan as additional AI users benefiting from large customer bases and proprietary data, tying the theme to strong recent earnings and analyst Buy ratings, though the excerpt provided does not include comparable detailed financial metrics for those two companies.