Apollo Economist: AI Delivers 'Zero Financial Payoff' to Most Companies

AI delivers 'zero financial payoff' to most companies, Apollo economist says

Apollo Global Management chief economist Torsten Slok examined the S&P 493 — the S&P 500 minus Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla — and found flat profit margins and revenue per worker, with no sign that AI is boosting productivity. He argues cheap intelligence won't easily translate into growth, since business success depends on judgment, accountability, and trust.