Market Overview

BlackRock's Fink: Robots Will Supplement Humans In Stock Picking

BlackRock's Fink: Robots Will Supplement Humans In Stock Picking

BlackRock, Inc. (NYSE: BLK), the world's largest asset manager with trillions of dollars under management, shocked many last month when the company said it will use replace certain money managers with machines. Larry Fink, BlackRock's CEO, was a guest on CNBC's "Squawk Box" segment Monday to talk about the decision.

Fink explained that the investment decision process is a lot different today than it has been in the past given the tremendous trove of information available. But for the time being at least, machines aren't yet able to dissect all of this data to come up with a superior performance versus human analysts.

Best Of Both Worlds

Fink did emphasize the fact that BlackRock isn't replacing humans with machines, rather the company is merely looking to better make use of the trove of information available to give humans better ideas and options.

"Very fast computers can analyze blogs, analyze all the feeds on the internet to come up with different nuances, different fields of information," Fink said. "So basically, [it's] a recognition there are more sources of information and requires very fast computing, it requires model analysis and deep data analysis."

Bottom line, Fink believes money managers still have "more to learn" from the use of machine technology and this could lead to better investment ideas.

Related Links:

BlackRock's Fink Isn't Lending His Support To Trump's Plan To Repatriate Trillions Of Dollars

Artificial Intelligence, Machine Learning Could Threaten Apps

Posted-In: artificial intelligence Blackrock CNBC CNBC Larry Fink machine learningTech Media Best of Benzinga


Related Articles (BLK)

View Comments and Join the Discussion!
Lightning Fast
Market News Service
$199 Free 14 Day Trial
Book A Demo
Learn How You Can Succeed In The Market With Benzinga Pro

Fastest Market News

Real-Time News Alerts

Customizable News Filters

Book A Demo

Sell-Side Weighs In On Panera Sale: Surprises And The Lack Of Thereof

Jefferies On General Motors: 'Red Flags Continue To Accumulate'