Three companies based mostly within the Houston space seem on Fortune’s inaugural record of the highest adopters of AI amongst Fortune 500 corporations.
They’re:
- No. 7 vitality firm ExxonMobil, based mostly in Spring
- No. 19 tech firm Hewlett Packard Enterprise, based mostly in Spring
- No. 47 vitality firm Chevron, based mostly in Houston
All three corporations have taken a giant dive into the AI pool.
In 2024, ExxonMobil’s government chairman and CEO Darren Woods defined that AI would play a key position in attaining a $15 billion discount in working prices by 2027.
“There’s a concerted effort to ensure that we’re actually working laborious to use that new know-how to the chance set throughout the firm to drive effectiveness and effectivity,” Woods informed Wall Road analysts.
Hewlett Packard Enterprise can be using AI to lower prices. In March, the corporate introduced a restructuring plan — together with the elimination of three,000 jobs — geared toward reducing about $350 million in annual bills. The restructuring is scheduled to wrap up by the top of October.
Hewlett Packard Enterprise’s Catalyst cost-cutting program features a push to make use of AI throughout the corporate to enhance effectivity, Marie Myers, the corporate’s government vice chairman and chief monetary officer, informed Wall Road analysts in June.
“Our ambition is evident: A leaner, quicker, and extra aggressive group. Nothing is off limits. We’re centered on rethinking the enterprise — not simply decreasing our prices, however reworking the way in which we function,” Myers mentioned.
At Chevron, AI instruments are getting used to rapidly analyze information and extract insights from it, in response to tech information web site VentureBeat. Additionally, Chevron employs superior AI techniques often called massive language fashions (LLMs) to create engineering requirements, specs and security alerts. AI is even being put to work in Chevron’s exploration initiatives.
Invoice Braun, Chevron’s chief info officer, mentioned at a VentureBeat-sponsored occasion in 2024 that AI-savvy information scientists, or “digital students,” are at all times embedded inside office groups “to behave as a catalyst for working otherwise.”
The Fortune AIQ 50 rating is predicated on ServiceNow’s Enterprise AI Maturity Index, an annual measurement of how ready organizations are to undertake and scale AI. To guage how Fortune 500 corporations are rolling out AI and the way a lot they worth AI investments, Fortune teamed up with Enterprise Expertise Analysis. The outcomes went into computing an AIQ rating for every firm.
On the prime of the rating is Alphabet (proprietor of Google and YouTube), adopted by Visa, JPMorgan Chase, Nvidia and Mastercard.
Other than ExxonMobil, Hewlett Packard Enterprise, and Chevron, two different Texas corporations made the record: Arlington-based homebuilder D.R. Horton (No. 29) and Austin-based software program firm Oracle (No. 37).
“The Fortune AIQ 50 demonstrates how corporations throughout trade sectors are starting to seek out actual worth from the deployment of AI know-how,” Jeremy Kahn, Fortune’s AI editor, mentioned in a information launch. “Clearly, some sectors, equivalent to tech and finance, are pulling forward of others, however even in so-called ‘previous financial system’ industries like mining and transport, there are a couple of corporations which can be pulling away from their friends within the profitable use of AI.”
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This story initially appeared on our sister website, InnovationMap.
