Apollo’s chief economist says he sees ‘zero evidence’ of AI-related job losses, even as CEOs cite the tech in layoffs Apollo Global Management’s chief economist, Torsten Sløk, argues there’s no evidence of job losses due to AI, instead stating that companies are hiring AI implementation experts and that the AI spending boom is increasing both employment and inflation. He likens the situation to the Jevons paradox, where increased efficiency leads to greater resource consumption, in this case, human workers. Despite his view, at least a dozen companies have cited AI as a factor in recent layoffs, a practice criticized by some AI industry leaders.

• Apollo’s chief economist, Torsten Sløk, sees zero evidence of job losses caused by AI.
• Companies are hiring AI implementation experts, increasing demand for AI skills.
• The AI spending boom is putting upward pressure on salaries, equipment prices, and energy.
• Sløk believes AI will increase both productivity and employment, citing the Jevons paradox.
• Several major companies have cited AI as a reason for recent layoffs, which some AI leaders call ‘AI washing’. Continue reading https://www.businessinsider.com/ai-jobs-crisis-no-evidence-apollo-chief-economist-torsten-slok-2026-5