Indeed. I often use the two words “I am” – by themselves, with connection to my breath, 
as my focus in meditation. 
As
“I am”
is also a statement of faith and a call to connect with God. 
{for Yahweh… God… said to Moses, 
“I am who I am,” 
“Say this to the people of Israel, ‘I am has sent me to you.’ “}

In doing inner work, changing inner dialogue, and shifting thoughts towards oneself that may be “less than”, we can be more specific:

Breathing in, the invocation of “I am”…
I am light.
I am love.
I am loved. 
I am perfect health.
I am supported.
I am living in abundance. 
I am…. 
Magic…

Breathing out, it is released 
that it may become.

~ Jill ♡