The U.S. has become worryingly reliant on a small segment of its workforce, according to hedge fund billionaire Ray Dalio, particularly tech elites who, he argues, are propping up an "unproductive" majority.

Speaking at the Fortune Global Forum in Riyadh on Monday , the founder of Bridgewater Associates said that the U.S. economy could no longer be viewed “as a whole” and had become defined by the growing divides between its social and economic strata.

Taking the case of artificial intelligence, Dalio said the industry was led by around 3 million people, or 1 percent of the population, supported by another “5 or 10 percent” on whom the “whole world is dependent.”

He went on to say that the “bottom 60 percent of the population” is “almost becoming useless or unproductive” thanks to de

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