Oleksii Balabanov

Talk or Deployment? AI Disclosure and the Limits of Text-Based Adoption Measures

The share of S&P 500 firms mentioning artificial intelligence in their annual report rose from 38.6% in fiscal 2018 to 96.7% in fiscal 2025. We ask whether this increase measures adoption or disclosure. Using 9,177 paragraphs extracted from Form 10-K filings, we classify each men...

Talk or Deployment? AI Disclosure and the Limits of Text-Based Adoption Measures

The share of S&P 500 firms mentioning artificial intelligence in their annual report rose from 38.6% in fiscal 2018 to 96.7% in fiscal 2025. We ask whether this increase measures adoption or disclosure. Using 9,177 paragraphs extracted from Form 10-K filings, we classify each men...