Apollo economist: AI yields zero financial payoff outside tech sector
Briefing by News4U · First published
Apollo Global Management chief economist Torsten Slok reports that revenue per worker and profit margins rose only for the Magnificent Seven, remaining flat for the other 493 S&P 500 companies.
Apollo Global Management chief economist Torsten Slok said on October 24 that AI has delivered zero financial payoff to corporate America outside the tech sector, with revenue per worker and profit margins rising only for the Magnificent Seven while remaining flat for the other 493 S&P 500 companies. [1] [2]
Slok noted that mainstream companies view token spending as a cost center rather than a source of growth, and warned that the AI story will be decided in the S&P 493, where no evidence yet shows revenue or margin gains. [1]
Sources
- Big Tech is cashing in on AI while the rest of corporate America sees no financial returns
Toms Hardware · · Excerpt
- AI delivers ‘zero financial payoff’ to most companies, Apollo economist says
TechCrunch · · Summary only