AI delivers ‘zero financial payoff’ to most companies, Apollo economist says
What's happening
Apollo says that despite massive investments and widespread hype, artificial intelligence has delivered "zero financial payoff" to corporate America outside the tech industry. The firm's economist argues the gains are concentrated with Big Tech, with the Magnificent Seven capturing the profits while the rest of the S&P 500 show no benefit. Reporters and commentators note there are no signs of an AI payoff outside the tech sector.
Why it's trending
Because new analysis from Apollo and coverage across outlets highlights an uneven distribution of AI returns, challenging the hype now that firms report results and investments mature.
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If your company bought into the AI gold rush, congratulations, you probably just bought someone else's profit; Apollo says AI payouts went almost entirely to the Magnificent Seven, leaving the rest of corporate America with zero financial payoff.
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Original sources4
- Private equity giant: AI payoff strictly limited to Big Tech
The Magnificent Seven are galloping off with the profits, while the rest of the S&P 500 see no benefit, claims Apollo
The RegisterOct 26 - Apollo says AI has delivered 'zero financial payoff' outside the tech industryHackerNewsOct 25
- AI delivers ‘zero financial payoff’ to most companies, Apollo economist says
"Despite massive investments and widespread hype around artificial intelligence, the technology has delivered zero financial payoff to corporate America outside of tech."
TechCrunch AIOct 25 - No signs of AI payoff outside the tech sectorHackerNewsOct 24
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