https://aifaultline.com/authors/martin-fleming/New papers by Martin Fleming in the AI Fault Line guide, and news naming them. https://aifaultline.com/research/p/title-f19be997e9cdf786/https://aifaultline.com/research/p/title-f19be997e9cdf786/Thu, 09 Jul 2026 00:00:00 +0000Using SEC 10-K filings — where misleading statements are legally prohibited — as a hype-resistant measure, the authors find 11% of S&P 500 firms had AI deeply integrated into business processes in 2025 (plus 10% using it in production/delivery), up more than fourfold from 5% in 2022, with tech firms accounting for two-thirds of deep adoption. Profitability follows a J-curve across adoption stages, but capex and productivity show no differences, feeding directly into the Solow-paradox debate: even among bellwether firms, deep AI integration has yet to show up in measured productivity.