Despite ongoing debates over its application, impact, and business value, new data from the US 500 2024 report by Brand Finance shows that artificial intelligence is already boosting the value of American brands.

Apple’s brand value has surged by 74% to US$517 billion, reclaiming the title of the most valuable brand globally and in the U.S., driven by diversification and premiumization strategies. According to Brand Finance research, over 50% of respondents recognize it as expensive, but worth the price.

NVIDIA is the fastest growing brand, with a brand value increase of 163%. Brand Finance’s research indicates significant improvements across familiarity, consideration, and recommendation, reaffirming NVIDIA’s status as a frontrunner in the AI space. Microsoft has jumped up to second place as the company’s AI strategy positions it as a major player in the application and monetization of the emerging technology.

“Brand Finance’s research emphasizes AI’s transformative impact on brand value across industries, highlighting its potential for future growth,” says Laurence Newell, managing director, Brand Finance North America. “In our latest research among IT decision-makers, AI leadership and expertise emerge as the single most important factor driving consideration for IT consulting and digital transformation players, indicating that being perceived as an AI-related brand will likely fuel future growth.”

He adds that AI’s impact on brand value spans industries, with examples including Johnson & Johnson (up 5%) utilizing AI for drug discovery, Ally (up 31%) employing AI-powered chatbots for customer assistance, and American Express (up 7%) and Bloomberg (up 22%) integrating AI to enhance internal processes and decision-making, indicating growth beyond the technology sector.

Article provided with permission from AppleWorld.Today