Apollo chief economist says AI has delivered "zero return" to US companies outside the tech sector
Torsten Slok, chief economist at Apollo Global Management, argues that artificial intelligence has delivered "zero return" to the US corporate economy outside the tech sector that sells it, according to Bloomberg. His argument compares the "Magnificent Seven" of the S&P 500 with the other 493 companies: revenue per worker is rising at the former and stagnant at the rest, and margins show no improvement either. Slok warns that spending on tokens is starting to be seen as an added cost and that AI's macroeconomic effects will be limited while it remains concentrated in a small slice of the economy.
In 45 seconds
- Slok says AI has delivered "zero return" to US companies outside the tech sector.
- Revenue per worker is rising at the Magnificent Seven but stagnant at the other 493 S&P 500 firms.
- The economist sees token spending as an added cost pressuring margins at traditional companies.
Read the full story at BioBioChile
IASummary generated by artificial intelligence from a story by BioBioChile. It may contain errors: the original source prevails.
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