Apollo’s Slok Likens AI Impact to Best Aspects of ‘China Shock’

Productivity gains from artificial intelligence will probably result in more jobs being created than are lost, similar to what occurred after China joined the World Trade Organization, according to Torsten Slok of Apollo Global Management Inc.

“Across the board, across industries, inputs on production have basically gone down, very similar to what we saw during the China shock,” Slok, Apollo’s chief economist, said Tuesday on Bloomberg Television’s Surveillance. When input costs become cheaper, “there is more demand for the inputs,” he said, citing as an example rising employment and salaries for radiologists as AI makes it cheaper to read scans.