AI delivers ‘zero financial payoff’ to most companies, Apollo economist says
In brief
- AI has not generated financial returns for most U.S. companies outside the tech sector.
- Massive AI investments fail to translate into measurable gains, per Apollo economist.
- Only the tech industry appears to financially benefit from AI adoption.
An Apollo economist claims that despite massive investments and widespread hype, artificial intelligence has delivered zero financial returns to corporate America outside the tech sector according to the announcement.
What it changes for you
- Finance & BankingBanks and financial institutions may reconsider their AI investment strategies given the lack of proven profitability.
- Industry & ManufacturingManufacturers may slow down industrial AI projects until tangible ROI evidence emerges.
- Retail & E-commerceRetail and e-commerce players may adjust their AI budgets following this assessment.
This summary gives you the essentials. The full article, its figures and quotes are on AI News & Artificial Intelligence | TechCrunch.
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