BlackRock, an American investment company has acknowledged the impact of artificial intelligence (AI) as a major economic shift. The company made this known in a mid-year outlook published on June 28.
The report which is subtitled “New Year, New Regime” talks extensively about AI as a force to be leveraged to drive returns both now and in the future. In the report, BlackRock said that it already has an overweight investment in AI, referring to the new technology as a “mega force,” claiming that its “tilt toward quality
already captures AI beneficiaries.”
Furthermore, the report pointed out that the S&P 500 gains have become increasingly concentrated in a handful of tech stocks when compared to the 2000s tech boom. For context, S&P (Standard and Poor’s) 500, is a stock market index metric in the United States that tracks the stock performance of the top 500 publicly traded companies in the country.
The shift suggests that AI and other mega forces like the “fast-evolving financial system” can produce returns regardless of the few other opportunities provided by the economic environment.
Artificial Intelligence and Digital Disruption
The report stated that AI has become “all the buzz,” noting that in 2023, the mention of artificial intelligence on company calls has grown exponentially to the tune of 14,000 (14 thousand). Also, companies’ and investors excitement has been filled with the growing popularity of ChatGPT and other language models.
“AI has become all the buzz. The mention of AI on company calls has skyrocketed in 2023. The popularity of ChatGPT and other large language models has stoked company and investor excitement over AI’s potential,” the report states.
Source: BlackRock mid-year outlook report
BlackRock further suggests in its report that the growing popularity of AI could trigger more investment growth. For instance, the investment in semiconductors could increase since it is the key component for AI tools and other models. In addition, the introduction of new AI tools could unlock the potential value of the data “gold mines” possessed by some companies.
BlackRock applies for Bitcoin ETF
Meanwhile, the investment giant has turned its focus to Bitcoin. On June 15, the company applied to the SEC seeking a spot for Bitcoin Exchange Traded Fund (ETF). If the application is approved, Blackrock’s fund will be the first of its kind to be approved by the Securities and Exchange Commission.
Special Offer (SPONSORED)
Binance Free $200 (Exclusive): Use this link to register and receive $200 free trading fee credit (terms).
"3Commas Trading Bot" Special Offer: Use this link to Sign up with 3Commas and get 10% off your first monthly subscription.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
COMMENTS