00:00It's Benzinga bringing Wall Street to Main Street.
00:02Larry Fink warned that artificial intelligence could repeat the inequality patterns of the post,
00:07Cold War era, unless more people share in the gains,
00:10speaking at the World Economic Forum in Davos last month.
00:14The BlackRock CEO said wealth created after the fall of the Berlin Wall accrued to a narrow share
00:18of society, eroding trust in institutions. He said AI is already following a similar pattern,
00:25with early gains flowing to owners of models, data, and infrastructure.
00:28Think said uneven wealth distribution has weakened trust in institutions and risks,
00:34making forums like Davos appear out of step in an era of populism and declining institutional
00:39confidence. Think said AI could reshape white-collar work much like globalization reshaped blue-collar
00:45jobs in the 1990s, leaving many communities behind. Think said pensions and retirement savings could
00:51help connect average savers to AI-driven growth. For all things money, visit Benzinga.com.
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