Larry Fink Warns AI Growth Could Exacerbate Wealth Inequality

Larry Fink, CEO of BlackRock, has cautioned that the rapid rise of artificial intelligence may deepen economic disparities. According to Fink, only a select number of companies and investors are positioned to benefit financially from AI's expansion. In his annual letter to investors, the head of the $14 trillion asset management firm highlighted the risks tied to AI's exponential development, noting its role in global strategic competition, especially between the US and China.