BlackRock Betting on AI: Report

BlackRock is highly supportive of artificial intelligence advancement. The company's experts believe that this technology has the potential to generate profits not only in the distant future but also immediately.

The rapid rise in computational power and big data has accelerated the spread of AI technology. Remarkable breakthroughs in machine learning achieved in just the last few years lay the foundation for new AI tools. The capability of AI to assume tasks previously carried out by humans, along with its ability to analyze vast volumes of information, has stirred an extraordinary market buzz. The business world is gripped by AI fever, with professionals skilled in artificial intelligence and machine learning being in the highest demand. 

The broader the range of tasks that can be automated, the higher the productivity levels can soar. This doesn't exclude white-collar jobs. The funds saved from implementing automation could significantly enhance a company's profitability. Those companies failing to adapt promptly might swiftly lose their market foothold. 

Specifically, BlackRock highlights the prospects for semiconductor manufacturers, as they are essential component suppliers for AI tools and models. The burgeoning interest in artificial intelligence has incited a surge in the industry's growth. BlackRock anticipates a steep rise in investments to expand semiconductor production, especially considering the US's desire to boost domestic manufacturing and reduce dependence on Chinese imports.

Companies possessing extensive proprietary datasets are missing an opportunity by not striving to develop their own innovative models. They're essentially sitting on a "goldmine of data," instead of analyzing their amassed volumes of information and turning it into significant revenue.