Apollo Economist Torsten Slok Says AI Has Paid Off Little Outside Big Tech
A note from Apollo's chief economist says profit margins and revenue per worker look flat at most large US companies.
Torsten Slok, chief economist at Apollo Global Management, says AI has produced "zero financial payoff" for corporate America outside the tech sector, according to TechCrunch. The claim comes from a note Slok published on Apollo's website. TechCrunch points out that Apollo is a private equity firm that formerly owned TechCrunch.
Treat this as one economist's view of big companies, not a verdict on your business. Before you pay for another AI tool, write down the one task it should speed up and the hours or dollars you expect to save, then check after a month. Keep a person responsible for decisions that involve customers or money.