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AI yields no financial gains for most companies outside tech, says Apollo economist

By PulseAugur Editorial · [2 sources] ·

Most companies outside the technology sector have not seen any financial benefits from their investments in artificial intelligence, according to Torsten Slok, chief economist at Apollo Global Management. Slok's analysis of the S&P 493 (S&P 500 excluding major tech firms) indicates flat profit margins and revenue per worker, suggesting AI has not boosted productivity in these industries. He posits that AI's current capabilities as a 'calculator' are insufficient for the 'judgment' required in business, as it lacks understanding of crucial elements like accountability, trust, and culture that drive business success. AI

IMPACT Suggests AI's current limitations in understanding business judgment may hinder its broader financial adoption beyond the tech sector.

RANK_REASON Economist's opinion piece on AI's financial impact.

Read on TechCrunch AI →

AI-generated summary · Google Gemini · from 2 sources. How we write summaries →

AI yields no financial gains for most companies outside tech, says Apollo economist

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Economist's opinion piece on AI's financial impact.
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COVERAGE [2]

  1. TechCrunch AI TIER_1 English(EN) · Anthony Ha ·

    AI delivers ‘zero financial payoff’ to most companies, Apollo economist says

    "Despite massive investments and widespread hype around artificial intelligence, the technology has delivered zero financial payoff to corporate America outside of tech."

  2. Mastodon — mastodon.social TIER_1 English(EN) · [email protected] ·

    🤖 AI delivers ‘zero financial payoff’ to most companies, Apollo economist says "Despite massive investments and widespread hype around artificial intelligence,

    🤖 AI delivers ‘zero financial payoff’ to most companies, Apollo economist says "Despite massive investments and widespread hype around artificial intelligence, the technology has delivered zero financial payoff to corporate America outside of tech." 📰 Source: AI News & Artificial…

    LINKS techcrunch.com/…/ai-delivers-zero-financi…

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