BlackRock Inc.'s Chief Executive Officer Larry Fink (pictured) said on Wednesday during the company's Investor Day that artificial intelligence (AI) might end up being the technology that lowers inflation.
He explained that AI is bringing "transformational opportunities," such as productivity boosts, which in turn might lead to a decline in inflation. According to Fink, "the collapse of productivity has been an essential issue in the global economies" and one of the main reasons why inflation has been so "sticky."
"I believe that AI has a huge potential to increase productivity, increase the knowledge base and transform margins across sectors," he commented.
