Apollo Economist: US Companies Excluding Tech Sector Have Zero AI Financial Returns
- 1Torsten Slok, Chief Economist at Apollo Global Management, stated that US companies excluding the technology sector have seen zero financial returns from AI.
- 2Slok analyzed that the S&P 493 companies, excluding Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla from the S&P 500 index, have stagnant returns and revenue per worker.
- 3He explained that AI is difficult to replace the judgment that determines revenue growth and profit margins in business because it does not understand responsibility, trust, culture, or ethical trade-offs.
So what's the key point?
A look at whether US companies are making money from artificial intelligence shows there are no profits if tech companies are excluded. This means it is difficult for AI to increase revenue for other companies because it cannot make judgments like a human.
Source TechCrunch · View original ↗
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