AI Delivers 'Zero Financial Payoff' To Most Companies, Economist Says

The chief economist at Apollo Global warns that AI has delivered zero financial payoff to most of corporate America, excluding tech firms. Despite massive investments and hype, there are no signs of AI boosting productivity growth. Consequently, mainstream companies are pulling back on spending, viewing token costs as a burden on margins rather than a growth source. While VC-backed firms increase token spending, mainstream corporations remain unwilling to pay for the latest models.