‘No one knows’: BlackRock CEO Larry Fink says AI’s impact on jobs remains uncertain

Will AI create jobs or destroy them? Even the world’s largest asset manager doesn’t have a clear answer.

The impact of artificial intelligence (AI) on jobs, particularly entry-level white-collar roles, remains unclear, with no consensus on how the labour market will evolve, according to BlackRock CEO Larry Fink.

“There is no consensus on what AI will mean for the labour market, particularly for entry-level white-collar roles. The truth is, no one knows with certainty,” Fink wrote in his annual letter. 

The statement reflects growing uncertainty among policymakers, businesses and workers as AI adoption accelerates across industries.

Historically, technological advancements have increased productivity and eventually created new categories of jobs. However, Fink notes that this transition is rarely smooth. Workers displaced by automation do not always move seamlessly into new roles, and the lag can create economic and social disruption.

In the near term, some trends are already visible. Demand is rising for skilled trades linked to AI infrastructure, such as electricians, engineers and technicians involved in building data centres and power systems.

At the same time, AI is beginning to automate tasks traditionally performed by entry-level professionals in fields such as finance, law and technology. This raises questions about career pathways and the future of knowledge work.

However, Fink points out that the issue runs deeper than skills alone. For decades, societies have equated success with university degrees and white-collar careers. AI could disrupt this paradigm, requiring a broader rethinking of what constitutes meaningful and valuable work.

“What are we going to do about that? It’s a conversation worth having,” he wrote.

In India, the stakes are particularly high. The country produces millions of graduates each year, many of whom enter entry-level roles in IT services and financial services, sectors that are at the forefront of AI adoption.

Also read: Indian IT's hiring model is changing...and AI is the reason

Industry leaders have already begun signalling change. Several IT companies have hinted at slower hiring for junior roles, even as they invest heavily in AI capabilities.