Where's the Money? Why Big AI Investments Aren't Paying Off Yet

Imagine buying an ultra-fancy motorized skateboard hoping to finish your paper route in half the time, but you end up spending all morning untangling charging cables and reading confusing manuals. That is remarkably close to what many businesses are experiencing with artificial intelligence right now!

An economist named Torsten Sløk at Apollo looked closely at non-tech companies, like retail shops, banks, and factories. Over the last two years, these corporate businesses rushed out to spend billions of dollars on AI chips, software, and chatbots, expecting the smart code to slash costs and boost their bank accounts overnight.