US, Mar 24: Larry Fink, chief executive of BlackRock, has cautioned that the rapid growth of artificial intelligence (AI) could deepen wealth inequality if access to its economic benefits remains limited to a small group of investors and companies.
In his annual letter to shareholders, Fink said technological advances often generate significant value, but the gains tend to be concentrated among those who already own financial assets. He warned that AI could amplify this pattern on a larger scale.
“The key issue is who participates in the gains,” he noted, adding that rising market valuations without wider ownership may leave large sections of society feeling excluded from economic progress.
The warning comes amid a surge in global investment in AI, with major technology companies such as Microsoft, Meta, Alphabet and Amazon intensifying competition to develop advanced AI systems.
Industry leaders including OpenAI and Anthropic are also exploring fresh funding avenues, including potential public listings, as demand for capital rises alongside the expansion of AI infrastructure.
Large investment firms and asset managers have increasingly backed the sector, financing capital-intensive projects such as data centre development. BlackRock itself has partnered with global firms to invest billions of dollars into AI-related infrastructure.
Fink said companies with access to data, capital and computing infrastructure are likely to benefit disproportionately from AI growth, but stressed that this trend is not new in periods of technological transformation.
He, however, emphasised the need to ensure broader participation in the economic gains generated by AI.
Expanding access to investment opportunities and financial markets, he said, would be critical to making growth more inclusive.
“AI will create significant economic value, but ensuring that more people can share in that growth is both a challenge and an opportunity,” he said.
Separately, Fink also highlighted concerns over long-term sustainability of social security systems, particularly in the United States, and called for reforms to strengthen funding and ensure future commitments to retirees are met.
Experts say the remarks reflect growing global concern that while AI has the potential to accelerate economic growth, it could also widen existing inequalities unless supported by inclusive policies and regulatory frameworks.
