E-Paper
BlackRock CEO Larry Fink warns of AI-driven unemployment: ‘This is a crisis’
The CEO of American investment firm BlackRock has warned that the AI revolution could create a ‘crisis’ for Gen Z employees entering the workforce.
The CEO of American investment firm BlackRock has warned that the AI revolution could create a ‘crisis’ for Gen Z employees entering the workforce. Speaking at BlackRock’s 2026 Infrastructure Summit, Larry Fink said that the traditional life path of getting a college degree and building a stable career may become more difficult.
The 73-year-old said that he’s “worried that when this year’s college graduates enter the workforce, we could see the highest unemployment rate among them in years—even without a recession.”
AI-driven crisis for Gen Z employees
Fink’s central concern is that AI has rapidly changed entry-level jobs. He warned that the advent of artificial intelligence could disrupt many jobs.
“The speed at which AI is changing, we’re not adapting our society fast enough,” he opinedm as reported by Fortune magazine. “Really post World War II, the pathway to a white-collar job was a college education, and AI is going to disrupt many of those types of jobs.”
Fink argued that a traditional four-year degree and white collar jobs are just one of the many pathways to success.
(Also read: ‘Kuch karta hi nahi’: Parents worry as 24-year-old earns ₹40 LPA in remote AI job)
“The key for life for everyone is to find their purpose,” he said. “For some people, their purpose will remain to get a four-year or advanced degree, and they could take that forward—but that’s not going to be the pathway for everybody.”
He also noted that demand is growing in the job market for skilled trades, thanks in part to the growth of AI infrastructure like data centres. The CEO of BlackRock said that AI will also create many jobs, but society currently does not have the bandwidth to fill those roles.
“[AI] is going to create many jobs and we’re not prepared as a society to fulfill those jobs,” Fink said. “And to me, this is a crisis.”
Last week, BlackRock pledged $100 million to skilled-trade programs, partnering with nonprofits and workforce organisations to train 50,000 workers over five years in roles such as electricians, HVAC technicians, plumbers, and ironworkers.
(Also read: I applied to work for an AI: Inside the website where AI agents hire humans for gig work)
