BlackRock calls AI a 'mega force'


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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What does BlackRock consider artificial intelligence (AI) to be?How has corporate awareness and incorporation of AI changed?What are the factors driving the growth of AI?What potential growth opportunities are associated with AI trends?What recent development has BlackRock made in the cryptocurrency space?

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