In his closely read annual letter to shareholders, Fink, who runs the world’s largest asset management fund, called AI the “most significant technology since, at least, the computer,” and said owning shares in top AI companies is the best hedge against the technology’s likely economic disruption. (The Logic)

Talking point: Fink has long argued that increasing investment participation will improve global prosperity. His latest letter said AI will reshape entire industries, accelerating productivity, with long-term impacts on labour remaining “an enormously important question.” He wrote that the biggest gains will accrue to companies that can afford the massive capital investments required to build and run the technology. In that sense, Fink said, AI could exacerbate wealth inequality if “ownership does not broaden alongside it.” He also flagged energy capacity and affordability as a top issue, in part because of the massive power and data infrastructure that AI’s growth will require.