Larry Fink Casts AI as Key Force in Economic Growth

In his annual letter to investors, BlackRock CEO Larry Fink described AI as the most important technological development since the advent of the computer. He said it is not only improving corporate efficiency but also reshaping capital markets, investment strategies and global capital allocation, making it a structural driver of economic growth.

Fink said most recently that the value created by AI will accrue primarily to companies that build and deploy the related technologies, as well as to investors who own assets in those companies. Reports did not provide the letter’s exact publication date, any investment amount or quantitative forecasts, but clearly reflected BlackRock’s view of AI’s long-term impact on capital.