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

According to Apollo economist Torsten Slok, most companies are seeing “zero financial payoff” from AI. Focusing on the S&P 493 (the S&P 500 excluding Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla), Slok found that profit margins and revenue per worker remain flat. There is no evidence to suggest that AI is currently improving productivity for these companies.

Unlike many reports focusing on AI's potential, this analysis from Apollo's Torsten Slok specifically excludes the seven largest tech companies to show a different, flat productivity trend for the remaining S&P 493.