Evercore ISI is updating some of its top picks that it says are poised to benefit from the application of artificial intelligence as third-quarter earnings season kicks into high gear. Ongoing macroeconomic challenges such as rising bond yields, elevated oil prices and the war in the Middle East could present a daunting backdrop as third-quarter reports flood in. But companies with upward earnings per share revisions that mention artificial intelligence could be positioned to outperform, according to Evercore ISI. “In an environment chock full of Macro headwinds, whilst stock correlations remain muted by historical standards, companies that are best positioned to deliver earnings upside, as JPM did last Friday, while articulating a plan for incorporating Generative AI into their ‘corporate DNA’, are best positioned to outperform,” said portfolio strategist Julian Emanuel in a Sunday note to clients. Alongside the pure-play technology and communication services names, Emanuel views financials as one of the best-positioned areas poised to benefit from harnessing AI to improve productivity. Here are some of the companies that made the Evercore ISI list: It’s no surprise that popular technology names Alphabet and Nvidia made the cut, given their dominant roles in 2023’s AI-fueled stock market advance. Nvidia shares have more than tripled since the start of the year, while Google and YouTube parent Alphabet has rallied 57%. Evercore ISI estimates that the search giant has a 44% exposure to generative AI. But Emanuel sees a host of other AI beneficiaries outside technology. That includes JPMorgan Chase , up 10% since the start of the year. Shares gained Friday after the largest bank in the country topped profit expectations amid a higher interest rate environment and reported more interest income that anticipated. JPMorgan offers favorable EPS momentum and boasts an overall AI exposure of 42% since a large share of its labor force is exposed to AI tools for productivity. JPM YTD mountain JPMorgan Chase shares year to date Another potential AI winner is Eaton , with 29% exposure to AI. The power management company, up nearly 34% this year, is well-situated to benefit as AI revolutionizes the industrial sector, Evercore ISI said. “ETN’s electrical business is the driver of its stock at 70%-75% of total company sales and earnings,” Emanuel wrote. “Data centers alone are 21% of total electrical sales and 15% of total company sales.” Evercore ISI also highlighted Booking Holdings , Arista Networks , CarMax and Pure Storage on its screen of AI winners. — CNBC’s Michael Bloom contributed reporting.