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."
AI hasn’t benefited the bottom line of any big corporations outside the tech industry, according to a note recently published by the chief economist at Apollo Global Management (the private equity giant that used to own TechCrunch).
Apollo’s Torsten Slok focuses on what he calls the S&P 493 — the S&P 500, minus Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla — finding that profit margins and revenue per worker appear to be flat, with no evidence that AI is improving productivity.
Not cross-checked yet
Only TechCrunch reports this story so far. We show it as a single source until another newsroom confirms it.
- TechCrunch25 Oct, 17:57
| Publisher TechCrunch (established tier) | +76 |
| Detailed summary | +2 |
| Total | 78 |
Method: reports are grouped by the words of their headline and summary; each newsroom counts once; figures are read from the reports as published. Nothing here is written by an AI.