Apollo Economist Reports Zero Financial Payoff from AI for Non-Tech Corporations
Torsten Slok, chief economist at Apollo Global Management, reports that artificial intelligence has yet to deliver measurable financial benefits to the 'S&P 493'—the group of S&P 500 companies excluding major tech giants. According to his analysis, profit margins and revenue per worker for these non-tech firms remain flat, showing no evidence of productivity gains despite massive industry investments. Slok argues that while AI excels at computation, it lacks the human judgment necessary to drive business outcomes, such as navigating ethics, culture, and accountability. He expresses skepticism regarding the ability of broader corporate America to convert cheap intelligence into actual revenue growth or improved profit margins.
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Topics: Artificial Intelligence Corporate Productivity Profit Margins S&P 500