Optimizing financial success: The synergistic impact of artificial intelligence and R&D investments in U.S. firms

Optimizing financial success: The synergistic impact of artificial intelligence and R&D investments in U.S. firms | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Research Article Optimizing financial success: The synergistic impact of artificial intelligence and R&D investments in U.S. firms Sonia Kumari, Raja Shaikh, Mujeeb-u-Rehman Bhayo, Sharmila Devi, and 1 more This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-5911014/v1 This work is licensed under a CC BY 4.0 License Status: Posted Version 1 posted You are reading this latest preprint version Abstract The use of artificial intelligence (AI) and intellectual machines can support businesses in performing various activities. Therefore, it is necessary to examine the performance outcomes by assessing the concentration of AI technologies. To create a quantifiable score of AI concentration, AI-related terms are identified in the annual reports of all listed firms in the U.S. For analysis purposes, a fixed effects model is employed, using firms’ panel data from 2003 to 2022. The analysis reveals that AI concentration is beneficial for a company’s financial success. Additional analysis examines the moderating role of research and development (R&D). Firms with higher R&D spending experience increased financial benefits from concentrating on AI technologies. The uniqueness of this study lies in analyzing the financial success through the AI and R&D parameters. The findings support a higher concentration on AI, combined with higher R&D spending, to attain greater financial success. The main insights suggest that management must evaluate their existing focus on AI and R&D spending to improve their financial position. JEL Classification: F65; G30; O32; P33 Finance Management International Business Artificial Intelligence and Machine Learning artificial intelligence AI textual analysis financial gains profitability R&D fixed effects model Full Text Additional Declarations The authors declare no competing interests. Cite Share Download PDF Status: Posted Version 1 posted You are reading this latest preprint version Research Square lets you share your work early, gain feedback from the community, and start making changes to your manuscript prior to peer review in a journal. As a division of Research Square Company, we’re committed to making research communication faster, fairer, and more useful. We do this by developing innovative software and high quality services for the global research community. Our growing team is made up of researchers and industry professionals working together to solve the most critical problems facing scientific publishing. Also discoverable on Platform About Our Team In Review Editorial Policies Advisory Board Help Center Resources Author Services Accessibility API Access RSS feed Manage Cookie Preferences © Research Square 2026 | ISSN 2693-5015 (online) Privacy Policy Terms of Service Do Not Sell My Personal Information {"props":{"pageProps":{"initialData":{"identity":"rs-5911014","acceptedTermsAndConditions":true,"allowDirectSubmit":true,"archivedVersions":[],"articleType":"Research Article","associatedPublications":[],"authors":[{"id":408156348,"identity":"fd603adb-5288-448b-9617-a5f521c3056c","order_by":0,"name":"Sonia 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