Apollo economist says AI delivers zero financial payoff to non-tech companies

According to Apollo Global Management chief economist Torsten Slok, AI has not improved profit margins or revenue per worker for the S&P 493 index, which excludes the seven largest tech companies. Despite massive investments and widespread hype, Slok argues that corporate America has yet to turn cheap intelligence into higher revenue growth or profit margins, noting AI's inability to grasp judgment, accountability, and cultural factors that drive business value.