US Daily Brief "Today's Research – May 12, 2026" Parkhill

研报英文原文证据摘录

US Daily Brief "Today's Research – May 12, 2026" Parkhill

MORNING MEETING SUMMARY

AI Research - Enterprise AI Adoption is Ramping, Headcount Risk is Rising, Microsoft Still Dominant and OpenAI/

Anthropic Scale (Karl Keirstead)

SUMMARY: Summary Email: karl.keirstead@ubs.com

Phone:+1-310-734 2455

In this 6th iteration of our semi-annual Enterprise AI survey, we again leveraged

the UBS Evidence Lab data team to survey IT execs at 139 organizations about

their AI initiatives, the pace at which they are ramping and the preferred tech

vendors at the AI model, infrastructure, chip, application software and data

software layers. The survey results continue to point to Microsoft, OpenAI and

Nvidia as the key enterprise AI winners, but with Anthropic gaining ground.

Rising Overall Adoption, Early Evidence of Headcount Impact

In several published reports YTD, we’ve made the observation that beginning

around Dec/Jan, we began hearing enterprise customers say that they’ve

materially ramped their deployments of AI projects. As such, it is now “game on”.

In this survey, the portion of organizations that are “in production at scale” was

19%, up from 17% in the October 2025 AI survey and 14% in the year-ago

March 2025 survey. In our previous enterprise AI surveys, there was no convincing

evidence that AI was serving as a catalyst to displace humans.

Global Strategy - How to Trade Private Credit Spillovers Across All Markets (Julien Conzano)

SUMMARY: Our broader thesis of wider credit spreads later this year - driven Email: julien.conzano@ubs.com

primarily by mounting private credit risks and structurally weaker credit quality - Phone:+44-20-7567 2067

remains intact. We believe these risks have been largely overlooked as markets

remain narrowly focused on geopolitical outcomes.