Yahoo Finance · 25 Oct, 12:57 · Finance briefing

Apollo’s Torsten Slok Warns AI Has Delivered ‘Zero Financial Payoff’ Outside Tech — 'AI Story Will Be Decided In The S&P 493, Not The Mag 7'

Apollo Global Management’s Torsten Slok cautions that artificial intelligence has generated negligible financial returns for companies outside the technology sector.

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The briefing

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Apollo Global Management’s Torsten Slok cautions that artificial intelligence has generated negligible financial returns for companies outside the technology sector. He argues that the true value of the AI narrative will be determined by the performance of the S&P 493, rather than the dominant Mag 7 tech giants. This perspective challenges the prevailing assumption that AI adoption automatically translates into immediate profitability for broader industries.

Employer demand for AI Strategy skills — indexed growth since 2019
Indicative index of skill mentions in professional job postings for the field this story moves (2019 = 1)

Your move

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You must look beyond the hype and focus on tangible business outcomes. As AI integration spreads across non-tech sectors, professionals who can bridge the gap between technology and operational efficiency will rise in value. You should prioritise skills in strategic implementation over mere technical proficiency. Pay close attention to industries within the S&P 493, such as healthcare, finance, and manufacturing, where practical application is currently lagging. A smart professional would upskill in areas that demonstrate clear ROI, moving away from generic AI knowledge towards specific, industry-relevant applications. You need to understand how to measure impact and drive adoption in traditional business environments, ensuring your expertise aligns with real-world financial results rather than speculative trends.

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