Artificial Intelligence Boosts Brand Value

The Brand Finance US 500 2024 Report reveals AI innovation is a powerful driver of brand value across industries

• NVIDIA is America’s fastest-growing brand, up 163%
• Companies across sectors that are using AI experience brand value growth, including Johnson & Johnson, Ally Bank, American Express and Bloomberg
• Apple reports a 74% brand value growth, reclaiming the title of the country’s and world’s most valuable brand

NEW YORK--(BUSINESS WIRE)--Despite ongoing debates over its application, impact, and business value, new data from the US 500 2024 report by Brand Finance shows that artificial intelligence is already boosting the value of American brands.

NVIDIA is the fastest growing brand, with a brand value increase of 163%. Brand Finance’s research indicates significant improvements across familiarity, consideration, and recommendation, reaffirming NVIDIA’s status as a frontrunner in the AI space. Microsoft has jumped up to second place as the company’s AI strategy positions it as a major player in the application and monetization of the emerging technology.

Laurence Newell, Managing Director, Brand Finance North America commented:

“Brand Finance's research emphasizes AI's transformative impact on brand value across industries, highlighting its potential for future growth. In our latest research among IT decision-makers, AI leadership and expertise emerge as the single most important factor driving consideration for IT consulting and digital transformation players, indicating that being perceived as an AI-related brand will likely fuel future growth."

AI's impact on brand value spans industries, with examples including Johnson & Johnson (up 5%) utilizing AI for drug discovery, Ally (up 31%) employing AI-powered chatbots for customer assistance, and American Express (up 7%) and Bloomberg (up 22%) integrating AI to enhance internal processes and decision-making, indicating growth beyond the technology sector.

Apple's brand value has surged by 74% to USD516.6 billion, reclaiming the title of the most valuable brand globally and in the US, driven by diversification and premiumization strategies. According to our research, over 50% of respondents recognize it as expensive, but worth the price.

Note to Editors

The full ranking, additional insights, the methodology, and definitions of key terms are available in the Brand Finance US 500 2024 Report.

About Brand Finance

Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organizations make strategic decisions.