The Digital Source For China's Tech Innovation Since 2000

China Tech Buzz

Global News Impacting Chinese Tech

AI boom risks widening wealth divide, says BlackRock’s Larry Fink

News Snapshot:

The boom in artificial intelligence risks widening inequality, with only a handful of companies and investors likely to reap its financial rewards, the BlackRock chief executive, Larry Fink, has said.The boss of the $14tn (£10.4tn) asset manager used his annual letter to investors on Monday to highlight potential hazards around the exponential growth in AI, which has attracted rapid investment and become, he said, “central to strategic competition” between global powers such as the US and China.“The massive wealth created over the past several generations flowed mostly to people who already owned financial assets,” Fink said. “And now AI threatens…

Other China Tech Buzz: