Apollo says AI profits outside tech will trail Wall St expectations for years

apollo chief economist torsten slok warns that ai valuations depend on margin expansion in the s&p 493, yet sectors like healthcare, banking, and energy face structural delays in implementation. slok notes that productivity gains in knowledge work are often absorbed into operations without clear metrics, preventing them from boosting financial statements. if the productivity bump takes years rather than months, current ai stock prices face a significant correction as they are priced for immediate earnings growth.