BlackRock's Larry Fink Says AI Will Gut White-Collar Jobs— And Winners Will Be Electricians And Plumbers, Not Bankers

Benzinga_recent_news03-26

“We really put judgment on so many jobs and so many people who probably should not have gone into banking or media or law,” Fink said in a podcast episode released Wednesday. “We need to now ...

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Artificial intelligence is going to hollow out demand for certain white-collar roles. What it can’t replace is the physical infrastructure needed to run itself: the data centers, the power grids, the electrical systems, he said. The people who build those things are electricians, welders, and plumbers. And right now, there aren’t enough of them.BlackRock’s own philanthropic arm has committed $100 million to a program called Future Builders, aimed at placing 50,000 workers into skilled trades over the next five years.“We built the foundation of education after World War Two and said to all the young people, go to college, go to college, go to college,” he said. “And we probably overdid it.”“I just see a lot of talk and no action” in Europe, he said, while urging the U.S. to treat sol","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","IE00BVYPNV92.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) ACC","CHAT":"ROUNDHILL GENERATIVE AI & TECHNOLOGY ETF","BK4552":"Archegos爆仓风波概念","VDE":"Vanguard Energy ETF","IE00BGHQF631.EUR":"GUINNESS GLOBAL EQUITY INCOME \"C\" (EUR) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","IE00BDGV0183.EUR":"GUINNESS GLOBAL EQUITY INCOME \"C\" (EUR) INC","IE00B42XCP33.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) INC","AIPO":"Defiance AI and Power Infrastructure ETF","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","BK4510":"在线教育","BK4581":"高盛持仓","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0070302665.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) ACC","LU0772969993.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USD) ACC","LU0980610538.SGD":"Natixis Harris Associates US Equity RA SGD-H","BK4531":"中概回港概念","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","BK4585":"ETF&股票定投概念","LU1481011671.HKD":"FIDELITY GLOBAL DIVIDEND \"A\" (HKDHDG) INC","BK4534":"瑞士信贷持仓","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","LU1989771016.USD":"东方汇理环球老龄化投资基金 A2 Acc","BLK":"贝莱德","BK4567":"ESG概念","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","LU1291159041.SGD":"CPR Invest - Global Silver Age A2 Acc SGD-H","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1481011911.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USDHDG) INC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","GOTU":"高途","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","LU0731783048.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USD) INC MONTHLY (G)","LU1509826696.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USD) INC B","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","BK4588":"碎股","BK4535":"淡马锡持仓","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","IE00B64PRP62.GBP":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (GBP) ACC","AGIX":"通用人工智能 ETF-AGIX","IE00B3QW5Z07.USD":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (USD) ACC","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","LU1599440770.SGD":"FIDELITY GLOBAL DIVIDEND \"A\" (SGDHDG) INC","BK4135":"资产管理与托管银行","IE00BGHQF748.EUR":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (EUR) ACC"},"translate_title":"贝莱德的拉里·芬克表示，人工智能将摧毁白领工作——赢家将是电工和水管工，而不是银行家","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VDE":0.71,"AGIX":1.5,"BLK":1.5,"GOTU":1.5,"CHAT":1.5,"AIPO":1.5},"content_text":"“We really put judgment on so many jobs and so many people who probably should not have gone into banking or media or law,” Fink said in a podcast episode released Wednesday. \n“We need to now rebalance that approach.”\nFink’s argument is mathematical. Artificial intelligence is going to hollow out demand for certain white-collar roles. What it can’t replace is the physical infrastructure needed to run itself: the data centers, the power grids, the electrical systems, he said. The people who build those things are electricians, welders, and plumbers. And right now, there aren’t enough of them.\nHis latest annual letter to shareholders, published earlier this week, puts numbers behind the rhetoric. U.S. employment for electricians is growing three times faster than the national average. Many skilled trade jobs already pay well into six figures. \nBlackRock’s own philanthropic arm has committed $100 million to a program called Future Builders, aimed at placing 50,000 workers into skilled trades over the next five years.\nThe deeper issue, as Fink frames it, is cultural. He noted that investment bankers are glamorized in dramas like Industry, while plumbers are caricatured on TV. \n“We built the foundation of education after World War Two and said to all the young people, go to college, go to college, go to college,” he said. “And we probably overdid it.”\nBut there’s a threat lurking beneath Fink’s vision for the AI-and-trades economy — and it’s coming from the Middle East.\nThe ongoing war in Iran has sent oil prices back above $100 a barrel, and Fink outlined two possible “very extreme” outcomes. If the conflict ends and Iran re-enters the international community, oil prices could fall back below pre-war levels or $40 a barrel. If it doesn’t, he warned of “years of above $100, closer to $150 oil,” and a “stark and steep recession.”\nAI infrastructure requires enormous amounts of cheap, reliable electricity, mostly natural gas. Fink’s letter outlined how energy cost is the single biggest bottleneck to AI expansion in both the U.S. and Europe. \nA sustained oil shock, as the critical Strait of Hormuz remains largely closed, raises the cost of powering the data centers that the AI economy runs on, making the U.S. more vulnerable and, in Fink’s telling, handing a strategic advantage to China, which is aggressively building out solar and nuclear capacity. \n“I just see a lot of talk and no action” in Europe, he said, while urging the U.S. to treat solar expansion as an AI competitiveness strategy, not a climate one.\nImage via Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2622085435","isCrawlerRequest":true}