AI's financial payoff outside tech questioned in S&P 493 comparison

In an Oct. 24 note, Apollo chief economist Torsten Slok argued that AI had delivered no financial payoff to corporate America outside tech. He contrasted flat revenue per worker and profit margins for the S&P 493 with gains for the Magnificent Seven and saw no signs of an AI productivity boost. He said the question ahead is whether companies can turn cheaper intelligence into higher revenue growth and margins.