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SeedPublished 2026-10-23

Putting AI and data on the balance sheet

Firms spend heavily on data, software and AI models, but much of that spending is expensed and barely shows on balance sheets. Intangible assets are a steady finance topic, yet only one of 57 recent papers on them carries an AI, data or software keyword. How large is the missing AI capital, and does it distort book-based measures?

accountingfinanceai

What prompted this

Since October 2025, 57 papers carry an intangible-assets, intangible-capital or intangible-investment keyword (30 in finance journals, 11 in economics, 10 in management). Only one of them also carries an AI, data-asset, software or digital-asset keyword, while AI keeps rising in almost every category on the trends page.

Questions

  • How much do listed firms spend on AI and data each year, and how much would a capitalized "AI capital" add to their assets?
  • Does adding it change book-to-market sorts, the value premium or measured returns on capital?
  • Where the rules allow capitalization, are firms that capitalize more of it valued differently?

Data that could help

  • R&D, software and overhead expenses (Compustat), and AI job postings as a proxy for AI labour spending.
  • China's accounting rules for enterprise data resources, in force since 2024, which let some firms report data as assets.

Next step

Estimate AI labour spending of listed firms from job postings and salaries, capitalize it with a perpetual-inventory method, and recompute book-to-market.

Related research activity

The keywords this note follows, in the tracked finance, accounting, economics, management, operations research and AI journals as of 2026-10-26
KeywordPapers, last 30 daysRankPapers per month, Oct 23 – Oct 26*Papers, last 36 months
intangible assets3#77670
intangible capital2#130318
intangible investment1#288117

Markdown version of this note: /ideas/ai-and-data-on-the-balance-sheet.md

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Cite this page

Scholar4AI. (2026). Putting AI and data on the balance sheet. Journal Research Rankings. Retrieved October 23, 2026, from https://scholar4ai.com/ideas/ai-and-data-on-the-balance-sheet

@misc{scholar4ai-ideas-ai-and-data-on-the-balance-sheet,
  author = {{Scholar4AI}},
  title = {Putting AI and data on the balance sheet},
  year = {2026},
  howpublished = {\url{https://scholar4ai.com/ideas/ai-and-data-on-the-balance-sheet}},
  urldate = {2026-10-23},
  note = {Journal Research Rankings; data from OpenAlex (CC0); licensed CC BY-NC 4.0}
}

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