Apollo’s Slok Says AI Weighs On Pay Without Cutting Jobs — Yet

Apollo Global Management chief economist Torsten Slok reports that recent AI adoption has begun to put downward pressure on wage growth despite a current absence of widespread job losses. While companies are not yet reducing headcounts, the ability to automate specific tasks is shifting labor market dynamics and potentially cooling salary expectations. This trend suggests that businesses may be utilizing technology to improve efficiency and offset labor costs rather than immediately replacing human workers.