Worth knowing
AI delivers 'zero financial payoff' to most companies, Apollo economist says
This analysis adds macroeconomic evidence to the ongoing debate over whether massive corporate investments in AI will translate into measurable productivity and profit gains outside the tech sector.
Reported by Hacker News ·
What happened
Apollo Global Management's chief economist Torsten Slok published a note stating that AI has yet to benefit the bottom line of large corporations outside the tech industry. Analyzing the S&P 500 excluding the top seven tech companies, Slok found flat profit margins and revenue per worker, arguing that businesses struggle to turn cheap intelligence into financial gains because AI lacks human judgment.
Who it’s about
- Apollo Global Management
- Torsten Slok
Source
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