Artificial intelligence
266 of 521 companies added a paragraph in Risk Factors that uses one of these words:
AI, artificial intelligence, machine learning, generative, large language model.
The paragraph is in the latest 10-K and nothing like it was in the one before.
It counts text; it does not say how serious a risk is. Words in capitals only (such as AI) must be in capitals.
By sector
Sector is the SEC's industry description of the company. Each count opens that sector's quotes below.
| Sector | Companies | Compared |
|---|---|---|
| Orthopedic, Prosthetic & Surgical Appliances & Supplies | 5 | 5 |
| Services-Consumer Credit Reporting, Collection Agencies | 3 | 3 |
| Computer Peripheral Equipment, NEC | 2 | 2 |
| Men's & Boys' Furnishgs, Work Clothg, & Allied Garments | 2 | 2 |
| Retail-Catalog & Mail-Order Houses | 2 | 2 |
| Rubber & Plastics Footwear | 2 | 2 |
| Services-Medical Laboratories | 2 | 2 |
| Transportation Services | 2 | 2 |
| Air Courier Services | 1 | 1 |
| Aircraft & Parts | 1 | 1 |
| Apparel & Other Finishd Prods of Fabrics & Similar Matl | 1 | 1 |
| Bottled & Canned Soft Drinks & Carbonated Waters | 1 | 1 |
| Communications Equipment, NEC | 1 | 1 |
| Drawing & Insulating of Nonferrous Wire | 1 | 1 |
| Electrical Industrial Apparatus | 1 | 1 |
| Electromedical & Electrotherapeutic Apparatus | 1 | 1 |
| Electronic Components & Accessories | 1 | 1 |
| Engines & Turbines | 1 | 1 |
| Farm Machinery & Equipment | 1 | 1 |
| Games, Toys & Children's Vehicles (No Dolls & Bicycles) | 1 | 1 |
| Gas & Other Services Combined | 1 | 1 |
| General Industrial Machinery & Equipment, NEC | 1 | 1 |
| Grain Mill Products | 1 | 1 |
| Heavy Construction Other Than Bldg Const - Contractors | 1 | 1 |
| Insurance Carriers, NEC | 1 | 1 |
| Leather & Leather Products | 1 | 1 |
| Meat Packing Plants | 1 | 1 |
| Misc Industrial & Commercial Machinery & Equipment | 1 | 1 |
| Miscellaneous Manufacturing Industries | 1 | 1 |
| Motors & Generators | 1 | 1 |
| Newspapers: Publishing or Publishing & Printing | 1 | 1 |
| Oil & Gas Field Machinery & Equipment | 1 | 1 |
| Ordnance & Accessories, (No Vehicles/Guided Missiles) | 1 | 1 |
| Paints, Varnishes, Lacquers, Enamels & Allied Prods | 1 | 1 |
| Paper Mills | 1 | 1 |
| Real Estate | 1 | 1 |
| Retail-Computer & Computer Software Stores | 1 | 1 |
| Retail-Drug Stores and Proprietary Stores | 1 | 1 |
| Retail-Eating & Drinking Places | 1 | 1 |
| Retail-Grocery Stores | 1 | 1 |
| Retail-Home Furniture, Furnishings & Equipment Stores | 1 | 1 |
| Retail-Radio, Tv & Consumer Electronics Stores | 1 | 1 |
| Retail-Retail Stores, NEC | 1 | 1 |
| Rolling Drawing & Extruding of Nonferrous Metals | 1 | 1 |
| Services-Advertising Agencies | 1 | 1 |
| Services-Detective, Guard & Armored Car Services | 1 | 1 |
| Services-Engineering, Accounting, Research, Management | 1 | 1 |
| Services-Equipment Rental & Leasing, NEC | 1 | 1 |
| Services-Misc Health & Allied Services, NEC | 1 | 1 |
| Special Industry Machinery (No Metalworking Machinery) | 1 | 1 |
| Special Industry Machinery, NEC | 1 | 1 |
| Sugar & Confectionery Products | 1 | 1 |
| Telephone & Telegraph Apparatus | 1 | 1 |
| Television Broadcasting Stations | 1 | 1 |
| Trucking & Courier Services (No Air) | 1 | 1 |
| Wholesale-Electronic Parts & Equipment, NEC | 1 | 1 |
| Wholesale-Medical, Dental & Hospital Equipment & Supplies | 1 | 1 |
| X-Ray Apparatus & Tubes & Related Irradiation Apparatus | 1 | 1 |
| Computer Storage Devices | 4 | 5 |
| Services-Computer Programming, Data Processing, Etc. | 4 | 5 |
| Investment Advice | 6 | 8 |
| Retail-Eating Places | 3 | 4 |
| Services-Prepackaged Software | 14 | 19 |
| Finance Services | 20 | 28 |
| Surgical & Medical Instruments & Apparatus | 7 | 10 |
| Semiconductors & Related Devices | 10 | 15 |
| Insurance Agents, Brokers & Service | 4 | 6 |
| Electronic Computers | 2 | 3 |
| Measuring & Controlling Devices, NEC | 2 | 3 |
| Retail-Auto Dealers & Gasoline Stations | 2 | 3 |
| Retail-Building Materials, Hardware, Garden Supply | 2 | 3 |
| Services-Commercial Physical & Biological Research | 2 | 3 |
| Services-Computer Integrated Systems Design | 2 | 3 |
| Wholesale-Drugs, Proprietaries & Druggists' Sundries | 2 | 3 |
| National Commercial Banks | 7 | 11 |
| Hospital & Medical Service Plans | 3 | 5 |
| Industrial Instruments For Measurement, Display, and Control | 3 | 5 |
| Laboratory Analytical Instruments | 3 | 5 |
| Services-Business Services, NEC | 9 | 16 |
| Real Estate Investment Trusts | 15 | 27 |
| Electric Services | 8 | 15 |
| Electronic & Other Electrical Equipment (No Computer Equip) | 2 | 4 |
| Search, Detection, Navigation, Guidance, Aeronautical Sys | 2 | 4 |
| Services-Computer Processing & Data Preparation | 2 | 4 |
| Aircraft Engines & Engine Parts | 1 | 2 |
| Arrangement of Transportation of Freight & Cargo | 1 | 2 |
| Cigarettes | 1 | 2 |
| Cutlery, Handtools & General Hardware | 1 | 2 |
| Fats & Oils | 1 | 2 |
| Industrial Organic Chemicals | 1 | 2 |
| Instruments For Meas & Testing of Electricity & Elec Signals | 1 | 2 |
| Optical Instruments & Lenses | 1 | 2 |
| Paperboard Containers & Boxes | 1 | 2 |
| Printed Circuit Boards | 1 | 2 |
| Pumps & Pumping Equipment | 1 | 2 |
| Radio & Tv Broadcasting & Communications Equipment | 1 | 2 |
| Retail-Auto & Home Supply Stores | 1 | 2 |
| Services-Computer Programming Services | 1 | 2 |
| Services-General Medical & Surgical Hospitals, NEC | 1 | 2 |
| Services-To Dwellings & Other Buildings | 1 | 2 |
| Telephone Communications (No Radiotelephone) | 1 | 2 |
| Trucking (No Local) | 1 | 2 |
| Wholesale-Groceries & Related Products | 1 | 2 |
| Pharmaceutical Preparations | 5 | 11 |
| Crude Petroleum & Natural Gas | 3 | 7 |
| Electric & Other Services Combined | 5 | 12 |
| Retail-Variety Stores | 2 | 5 |
| Air Transportation, Scheduled | 1 | 3 |
| Computer & office Equipment | 1 | 3 |
| Computer Communications Equipment | 1 | 3 |
| Electrical Work | 1 | 3 |
| General Industrial Machinery & Equipment | 1 | 3 |
| Life Insurance | 1 | 3 |
| Perfumes, Cosmetics & Other Toilet Preparations | 1 | 3 |
| Plastic Materials, Synth Resins & Nonvulcan Elastomers | 1 | 3 |
| Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics | 1 | 3 |
| Water Transportation | 1 | 3 |
| Security Brokers, Dealers & Flotation Companies | 2 | 7 |
| Fire, Marine & Casualty Insurance | 3 | 12 |
| Motor Vehicles & Passenger Car Bodies | 1 | 4 |
| Security & Commodity Brokers, Dealers, Exchanges & Services | 1 | 4 |
| Beverages | 1 | 5 |
| Biological Products, (No Diagnostic Substances) | 1 | 5 |
| Hotels & Motels | 1 | 5 |
| Petroleum Refining | 1 | 6 |
| State Commercial Banks | 1 | 6 |
835 paragraphs · Insurance Agents, Brokers & Service show all sectors
The increasing adoption of AI technologies by cyber threat actors presents a significant and evolving risk to our company. These actors may leverage AI to develop more sophisticated and targeted cyberattacks, including advanced phishing schemes, malware, and data exfiltration techniques, which could compromise our controls and systems, client data, and proprietary information. Such incidents could result in operational disruptions, financial losses, reputational damage, regulatory scrutiny, and potential legal liabilities. As the capabilities of AI-driven threats continue to advance, the complexity and scale of cyber risks we face may increase, necessitating ongoing investment in robust cybersecurity measures and threat mitigation strategies.
Read in the 10-K filed Feb 17, 2026 ↗
•Regulation in the areas of data privacy, data protection, data management, data transfer, data localization, artificial intelligence, and cybersecurity could increase our costs and affect or limit our business opportunities.
Read in the 10-K filed Feb 13, 2026 ↗
Regulation in the areas of data privacy, data protection, data management, data transfer, data localization, artificial intelligence, and cybersecurity could increase our costs and affect or limit our business opportunities.
Read in the 10-K filed Feb 13, 2026 ↗
If any of our employees, contractors, consultants, vendors or service providers use any third-party AI powered software in connection with our business or the services they provide to us, it may lead to the inadvertent disclosure or incorporation of our confidential information into publicly available training sets, which may impact our ability to realize the benefit of, or adequately maintain, protect and enforce our intellectual property or confidential information, harming our competitive position and business. Moreover, if we are perceived to exaggerate the effectiveness, safety or ethical design of AI systems, this could lead to regulatory enforcement, litigation or reputational harm. Any misrepresentation, intentional or unintentional, of our AI-related capabilities or initiatives could also erode trust among customers and regulators. There can be no assurance that our use of AI will enhance our products, services or operations or otherwise result in our intended outcomes.
Read in the 10-K filed Feb 12, 2026 ↗
In 2025, we launched a three-year program, Thrive, which focuses on our brand strategy, delivering greater value to clients, accelerating growth and improving efficiency (the "Program"). As part of the Program we also created a new unit, Business Client Services ("BCS") to accelerate innovation and centralize investments in operational excellence, data, AI and other analytics. As a part of these initiatives, we may optimize our global footprint, which involves inherent risks, including potential business disruptions or processing activities, loss of continuity or institutional knowledge, challenges in managing third-party providers and compliance with foreign regulatory requirements.
Read in the 10-K filed Feb 9, 2026 ↗