Technology · 15 views
AI delivers ‘zero financial payoff’ to most companies, Apollo economist says
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).
AI Summary
Apollo Global Management’s chief economist, Torsten Slok, reports that AI has not boosted profitability for large corporations outside the tech sector. In a recent note he examines the “S&P 493”—the S&P 500 excluding Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla—and finds profit margins and revenue per employee essentially flat. Slok says there is no evidence that AI is enhancing productivity for these companies.
AI summaries can be wrong sometimes—always verify important details using the source article.
How AI & Automation are usedMore from Technology
Continue reading recent Technology coverage
- What does the bell icon mean on your CarPlay screen?Continue reading
- The most unexpected everyday tool can be found on your phoneContinue reading
- What features do you lose if you use Apple AirPods with a Samsung Galaxy phone?Continue reading
- Now you can watch Instagram Reels on your Apple TVContinue reading
Support HappeningNow
Independent AI-powered news analysis is reader-supported. Your contribution helps cover infrastructure, summaries, and continued platform development.
Support HappeningNow