Apollo Economist: Non-Tech Companies See Zero AI Returns
Apollo's chief economist, Torsten Slok, stated that for the 493 S&P companies excluding Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla, profit margins and revenue per employee have remained largely flat, with no evidence of AI boosting productivity. This means AI has delivered "zero financial return" to U.S. businesses outside the tech sector.
Apollo Economist: AI Yields Zero Returns for Non-Tech Companies
According to Torsten Slok, Chief Economist at Apollo, for the 493 S&P companies excluding Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA, and Tesla, profit margins and revenue per employee have remained largely flat. There is no evidence that AI has boosted productivity, meaning AI delivers "zero financial payoff" to U.S. companies outside the tech sector.
Slok believes it is difficult for businesses to translate cheap intelligence into higher revenue and profit margins. While AI may be a good calculator, business intelligence relies more on judgment—areas where AI lacks understanding of responsibility, trust, and fairness.
Source: TechCrunch
