BlackRock chief executive Larry Fink has warned AI risks widening wealth inequality if companies and investors continue to reap the rewards and individuals are left out.
In his annual letter to shareholders, Fink said while much of the discussion about the economic disruption AI centres around jobs, history suggests the enormous value created by transformative technology accrues to the companies that build and deploy them, and to the investors who own them.
“The economy is rewarding scale like never before…AI may accelerate this trend further,” he said.
“The companies with the data, infrastructure, and capital to deploy AI at scale are positioned to benefit disproportionately. That is not unusual, and none of this is inherently problematic. Market leadership has always shifted with technological change. The broader question is who participates in the gains. When market capitalisation rises but ownership remains narrow, prosperity can feel increasingly distant to those on the outside.”
Fink added that AI is also reshaping investing as advances in data science and computing continue to transform how investors analyse markets, manage risk, and allocate capital, such as the growth of systematic investing.
“We believe the combination of systematic insight and human oversight will help define the next era of investing,” he said, adding: “One thing is clear: AI will create significant economic value. Ensuring that participation in that growth expands alongside it is both the challenge and the opportunity.”
