Torsten Slok / Apollo Global Management : Outside of tech there has been no financial payoff to US companies for using AI, now viewed as a margin-hurting cost center, as VC-backed firms burn more tokens — Despite massive investments and widespread hype around artificial intelligence, the technology has delivered zero financial payoff to corporate America outside of tech.
Outside of tech there has been no financial payoff to US companies for using AI, now viewed as a margin-hurting cost center, as VC-backed firms burn more tokens (Torsten Slok/Apollo Global Management)
In short
Torsten Slok, CEO of Apollo Global Management, emphasizes that despite significant investment and widespread hype surrounding artificial intelligence (AI), US companies have not seen any financial benefits from adopting AI technology. Instead, AI has been viewed as a costly and margin-harming expense, particularly for companies that are heavily reliant on it. This shift in perception is partly due to the increased token burn in venture capital-backed firms, indicating a growing recognition of AI as a significant f…
Key points
- Torsten Slok, CEO of Apollo Global Management, emphasizes that despite significant invest…: Torsten Slok, CEO of Apollo Global Management, emphasizes that despite significant investment and widespread hype surrounding artificial intelligence (AI), US companies have not seen any financial benefits from adopting AI technology.
- Instead, AI has been viewed as a costly and margin-harming expense, particularly for comp…: Instead, AI has been viewed as a costly and margin-harming expense, particularly for companies that are heavily reliant on it.
- This shift in perception is partly due to the increased token burn in venture capital-bac…: This shift in perception is partly due to the increased token burn in venture capital-backed firms, indicating a growing recognition of AI as a significant financial burden rather than a profitable asset.