BlackRock CEO Fink Warns: Invest or Be Left Behind by AI

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BlackRock CEO Fink stated that investing is the best hedge Americans can take against the disruptive economic impact expected from the development of artificial intelligence (AI). The 73-year-old BlackRock CEO called AI “the most significant technology since the advent of computers,” while also acknowledging that the potential long-term impact of AI on the U.S. labor market is an “extremely important issue.” In his annual letter to shareholders, Fink emphasized that it is crucial for ordinary people to invest in top companies. “History shows that transformative technologies can create enormous value, most of which goes to the companies that develop and deploy these technologies and the investors who own these companies,” he wrote. “If the ownership of these technologies does not keep pace with AI development, the gap between the rich and the poor could truly widen.”

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