Larry Fink, the Chief Executive of BlackRock, has stated that the company is spending a significant amount of time exploring opportunities for artificial intelligence (AI) technology, which will hopefully increase productivity. During an industry conference, Fink mentioned that he believes AI has the potential to be a significant economic force as it has the ability to automate tasks or eliminate roles altogether, thus increasing productivity by up to 30%. BlackRock set up a team called the AI Labs to work on natural language processing, machine learning, and other capabilities in the technology five years ago. The team is currently based in three locations across New York, Palo Alto, and Edinburgh and it works with data from imagery, financial reports, and other sources.
BlackRock is a multinational investment management corporation founded in 1988 and is regarded as the world’s largest asset manager with an AUM (Assets Under Management) of over $9tn.
Larry Fink is a renowned businessman and the CEO of BlackRock. He co-founded the company in 1988, and under his leadership, it has become the world’s largest investment management corporation. Fink is a committed advocate of environmental, social, and governance principles and has been vocal in urging companies to observe these guidelines to protect shareholder value for the long term.
