AI delivers 'zero financial payoff' to most companies, Apollo economist says
READ THE ORIGINAL SOURCEOpen original sourcetechcrunch.com · Opens in a new tabA TechCrunch article reports on a note by Apollo Global Management's chief economist, Torsten Slok, who examines the S&P 493 (S&P 500 excluding seven large tech firms). He finds profit margins and revenue per worker appear flat, with no evidence AI is improving productivity outside tech. Slok argues that AI is a strong calculator but business success depends on judgment, accountability, trust, and culture, which AI does not handle. The article notes recent studies have also found limited AI productivity gains.
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A TechCrunch article reports on a note by Apollo Global Management's chief economist, Torsten Slok, who examines the S&P 493 (S&P 500 excluding seven large tech firms). He finds profit margins and revenue per worker appear flat, with no evidence AI is improving productivity outside tech. Slok argues that AI is a strong calculator but business success depends on judgment, accountability, trust, and culture, which AI does not handle. The article notes recent studies have also found limited AI productivity gains.
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- 03Where are the sources?
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- 04What could mislead?
Source claims not independently checked; the analysis relies on a single economist's note and aggregate financial measures.
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- 06What would change the view?
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Key findings from the stored brief
- Slok finds profit margins and revenue per worker in the S&P 493 appear flat.
- Slok says AI has delivered 'zero financial payoff' to corporate America outside tech.
- Slok argues business intelligence is mostly judgment, which AI does not understand.
- The article notes recent studies also found AI has yet to deliver significant productivity gains.
Source claims not independently checked; the analysis relies on a single economist's note and aggregate financial measures.
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Why this may matter
The claim bears on whether large investments in AI are translating into corporate earnings and productivity, a question relevant to investors, executives, and policymakers weighing AI spending.
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