AI has delivered virtually no financial benefit to companies outside the technology sector in the United States, according to analysis from Apollo Global Management. Since 2022, revenue per employee at tech companies has surged 45.4%, while it has remained virtually flat for other S&P 500 firms, hovering around $550,000.
The disconnect stems from how different sectors treat AI spending. Tech companies are leveraging AI investments as growth drivers, while companies in other industries are approaching AI token costs as operating expenses that eat into profit margins rather than as opportunities for revenue expansion. This fundamental difference in strategy and implementation has left non-tech firms struggling to justify their AI expenditures.