Fink Warns of AI Race, K-Shaped Economy

Larry Fink, BlackRocks CEO, warns of global AI competition, urging the US to invest heavily. He highlights the K-shaped economy trend, where high-income earners and tech industries thrive, while lower-income households struggle. Fink acknowledges the uncertainty in AI spending and the need for significant infrastructure investments, projecting a potential annual revenue of six hundred fifty billion dollars by 2030 for a ten percent return. He emphasizes the profound impact of AI on the economy, with more companies achieving greater output with fewer employees.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.