No Signs of AI Payoff Outside the Tech Sector

Despite massive AI investments, the technology has generated zero financial payoff for non-tech companies, with revenue per worker and profit margins flat for the S&P 493 while showing gains only for the Mag 7 tech stocks, and productivity growth remains unaffected. Mainstream corporate America is now viewing AI spending as a cost center rather than a growth driver, and the technology's inability to incorporate judgment, accountability, trust, and ethical considerations limits its real-world business impact. The true test of AI's value will ultimately be determined by whether it can improve financial performance in the broader economy beyond the tech sector, where evidence so far is absent.