Want to protect yourself from AI? Invest, says BlackRock’s Larry Fink

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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 important question, and one that goes beyond economics. Work provides income, purpose, and dignity.”

But he said that even if AI does reduce demand for some jobs, especially for entry-level white collar jobs, there are opportunities in the labor market.

“In the near term, there are roles we know are in clear demand, and pay well: skilled trades, especially the ones building the physical infrastructure of AI, like data centers, power systems, and electrical grids,” he said.

He said there needs to be more than just greater training opportunities in skills like electricians, plumbing and construction trades.

“For decades, many societies have equated success with a university degree and a white-collar path. As technology reshapes parts of that landscape, we need a broader conversation about opportunity, dignity, and the value of different kinds of work,” he said.

Earlier this month, BlackRock announced a $100 million initiative to expand skilled trades development over the next five years.

In his letter, Fink said Jensen Huang, CEO of AI chipmaker Nvidia,…

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