Apollo economist warns AI profit gains outside tech could take "well beyond" what Wall Street expects

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According to an analysis by the financial management platform Ramp, companies have significantly increased their spending on AI applications.</p><p>Ramp analyzed spending data from tens of thousands of companies and billions of transactions.https://the-decoder.com/wp-content/uploads/2024/05/money_server_room.png" style="height: auto; margin-bottom: 10px;" width="1456" />


Apollo chief economist Torsten Slok sees no AI-driven margin gains outside tech.

In regulated industries like healthcare, banking, or pharma, process overhauls and privacy rules could delay productivity boosts by years.

If that takes five years instead of five months, many AI stocks face a painful repricing.


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