Larry Fink, the chief executive of BlackRock, said the rapid take-up of technology in the developing world had put so many jobs at risk that it had become his new “black swan of the moment”.

Speaking at the National Association of Pension Funds' annual investment conference on Wednesday, Fink (pictured) said: "I meet with companies all over the world, and I am seeing the massive effect of new technology on the creation of jobs. And one thing I have learnt is that technology is now cutting jobs more rapidly in the developing world than it is in the developed world."