BlackRock calls AI a 'mega force'

CryptoSlate
CryptoSlate

29 Jun 2023 6:34 AM

BlackRock described artificial intelligence (AI) one major structural shift in a mid-year outlook report published on June 28....

  • BlackRock acknowledges artificial intelligence (AI) as a major economic shift and a "digital disruption."
  • The company has an overweight investment in AI-related opportunities and claims to already capture AI beneficiaries.
  • Corporate awareness and incorporation of AI have significantly increased, with AI being mentioned 14,000 times in the latest round of earning calls.
  • S&P 500 gains now focus on a few tech stocks, indicating the potential returns from AI and other "mega forces."
  • Advances in computational power, data, and machine learning are driving the growth of AI, with companies integrating AI to automate tasks, boost productivity, and fuel innovation.
  • AI trends could lead to further growth, including increased investment in semiconductor production and the monetization of data stores.
  • BlackRock has applied for a spot Bitcoin exchange-traded fund (ETF), which, if approved, would be the first of its kind in the United States.

The article highlights BlackRock's recognition of AI as a significant economic shift and a force that can be leveraged for investment opportunities. It also mentions the company's application for a Bitcoin ETF, attracting attention in the crypto community. Overall, the sentiment is positive, emphasizing the potential benefits and growth associated with AI and cryptocurrency.

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