Markets'No sign of AI profits outside tech,' Apollo's chief economist says — 'painful repricing' if payoff takes five years, not five months

A post saying Apollo Global Management chief economist Torsten Slok found AI has paid off 'zero' for US companies outside tech drew 2,700 likes from More Perfect Union on Oct. 27.

In a June 30 Daily Spark note, Slok wrote there are 'no signs of profit margins rising outside the tech sector'. He said AI companies' value 'rests entirely on the promise that margins in the S&P 493 will eventually climb'.

He warned that if productivity gains in slow-moving sectors such as health care, banking, insurance, energy and manufacturing take five years instead of five months, markets face a 'painful repricing'.