Artificial intelligence could widen the problem of income inequality, said BlackRock CEO Larry Fink in his annual letter to shareholders.
And, while that might not be a particularly new point of view, his proposed solutions are not as typical. In his letter, released Monday, he said he believes that more participation in stock markets and a revamped Social Security program could be the answer to closing that wealth gap.
“When we talk about the economic disruption of AI, most of the conversation is about jobs,” said Fink, whose asset management firm handles more than $14 trillion of clients’ money, in the letter. “That’s an enormously