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Apollo chief economist says AI has yet to lift profit margins at major US companies outside tech

In a research report, Apollo Global Management chief economist Torsten Slok examined the 493 S&P 500 companies remaining after excluding seven tech giants and found that their profit margins and revenue per employee were broadly flat. He argues there is no evidence that AI has improved their productivity or delivered a clear profit gain to major companies outside tech.

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Apollo economist says AI has yet to improve large non-tech companies’ financial results

Apollo chief economist Torsten Slok examined the “S&P 493,” excluding seven tech companies from the S&P 500. He said profit margins and revenue per worker appear flat, with no evidence that AI is improving productivity. He argued that turning increasingly cheap AI intelligence into faster revenue growth and higher margins will be difficult.

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Apollo chief economist says AI has yet to lift profit margins at major US companies outside tech

In a research report, Apollo Global Management chief economist Torsten Slok examined the 493 S&P 500 companies remaining after excluding seven tech giants and found that their profit margins and revenue per employee were broadly flat. He argues there is no evidence that AI has improved their productivity or delivered a clear profit gain to major companies outside tech.