June 29 (Cointime) - BlackRock, a major asset management company, has released a report stating that the rise of artificial intelligence (AI) could potentially drive returns in the present and future. The report describes AI as a "mega force" that could disrupt entire industries.

BlackRock found that the S&P 500 gains have become increasingly concentrated in a few tech stocks, indicating that AI can be a significant catalyst for returns even during tough macro environment conditions.

The report also suggests that companies with vast sets of proprietary data have the ability to leverage a large amount of data to create innovative models, and that AI-driven productivity gains could boost profit margins and benefit companies with high staffing costs or a large share of tasks that could be automated.