Apollo Global Management chief economist Torsten Slok said there is no evidence so far that AI is reducing jobs. Citing the ADP National Employment Report, he said private-sector employment is still rising and companies are hiring workers needed to adopt AI. He wrote that demand for AI implementation specialists is increasing and data center expansion is pushing up wages for AI talent and prices for semiconductors, equipment and energy.

Criticism is growing in the tech industry that chief executives are overestimating how much work AI can actually automate. Box founder Aaron Levie said many CEOs appear collectively caught in an “AI delusion” and often mistake early prototypes for real job replacement. Studies cited in the article question whether AI adoption leads to measurable productivity gains, while research suggests human-level performance remains limited in many tasks and management approvals could become new bottlenecks.