AI delivers ‘zero financial payoff’ to most companies, Apollo economist says
In brief
- AI has not generated financial returns for most sectors outside of tech.
- Massive AI investments do not translate into measurable economic gains.
- An Apollo economist highlights AI's lack of overall profitability for the U.S. economy.
An Apollo economist states that despite massive investments and widespread hype, AI has delivered zero financial payoff to corporate America outside of the tech sector according to the announcement.
What it changes for you
- Finance & BankingBanks and financial institutions may reconsider their AI budgets if no financial return is observed.
- Industry & ManufacturingManufacturers may slow AI adoption in their processes without tangible proof of profitability.
- Retail & E-commerceRetail players may adjust their AI investment strategies due to the lack of proven financial gains.
This summary gives you the essentials. The full article, its figures and quotes are on AI News & Artificial Intelligence | TechCrunch.
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