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BlackRock's Fink Warns AI Boom Could Widen Wealth Divide without Broader Participation
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16 Articles
CHRONIQUE. BlackRock's CEO was concerned on Monday about the creation of a category of losers in the face of AI. Technology could become a machine to industrialize inequalities, confirms Isabelle Chaperon, columnist at the "World Economy" department.
The head of the world's largest asset manager BlackRock, Larry Fink, warns of growing inequality through artificial intelligence. "The enormous wealth created in the past generations flowed mostly to people who already had over financial assets," says the annual letter to shareholders published on Monday. "Now AI threatens to strengthen this pattern even more." Fink, who heads the world's largest asset manager with a fortune of around $14 trilli…
The boom of artificial intelligence is likely to deepen the gap between the poor and the rich, says Larry Fink, CEO of the BlackRock asset management company. Only a few companies and investors could benefit from the increase in this technology, underline it, according to The Guardian.
BlackRock's Fink warns AI boom could widen wealth divide without broader participation
BlackRock's CEO Larry Fink warned on Monday the artificial intelligence boom risks widening the wealth gap unless more individuals share in market gains. The rapid rise of AI has sparked debate over whether its gains will be broadly shared across sectors or increase the divide between big tech firms and smaller companies that may struggle to compete.
The development and continued adoption of artificial intelligence technology (AI) is likely to accentuate inequality in the world, as it is likely that only a limited number of companies and investors will collect financial benefits, said Larry Fink, Director General of BlackRock, quoted by The Guardian. The head of the company that manages assets in 14-thirds (14.000 ...
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