GoKawiilApollo economist says AI shows no profit payoff outside tech sector
Apollo Global chief economist Torsten Slok reports that excluding the 'Magnificent Seven' tech giants, the S&P 493 shows flat profit margins and revenue per worker, with no measurable productivity gains from AI adoption. He says mainstream corporations are increasingly treating AI token spending as a cost burden rather than a growth driver, even as VC-backed firms keep increasing their AI spend.
GoKawiil's interpretation of the reporting above, not reported fact.
Slok's framing suggests the real test of AI's economic impact lies with ordinary corporations, not the handful of tech giants already profiting from AI infrastructure and services. His argument implies that turning cheap AI models into higher revenue may require judgment, accountability and cultural understanding that current systems lack, which could slow broader adoption. If this pattern persists, it could temper investor expectations about AI's near-term macroeconomic effects beyond the tech sector.
- Apollo's Torsten Slok finds no productivity gains from AI across the S&P 493, excluding major tech firms.
- Mainstream corporations reportedly view AI token spending as a cost center rather than a growth driver.
- Slok argues AI's economic impact will be determined by its effect on everyday businesses, not just tech giants.
Source: slashdot.org — Posted, 2026-10-25
Published there as: “AI Delivers 'Zero Financial Payoff' To Most Companies, Economist Says”
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