Lagarde Sees in AI Potential to Reduce Inflationary Pressures in the Long Term
5 Articles
5 Articles
Lagarde argued that higher productivity via AI can reduce costs and price pressures, while the ECB tries to contain an inflation that returned to 3.2% in August.
“The precise implications of Artificial Intelligence (AI) remain uncertain. But uncertainty is no reason for inaction. As Alan Turing, a pioneer of computing, once observed: ‘We can see only a short distance ahead, but we can see a lot that needs to be done.’ This is equally true of artificial intelligence today.”
Beyond the risks, the President of the ECB, hearing the European Parliament's Economic Committee, unravels the benefits of the rapid and widespread adoption of artificial intelligence: "Increasing productivity between 0.3 and 0.4 per cent per year over a decade"
The President of the European Central Bank (ECB), Christine Lagarde, today considered that artificial intelligence (AI) can "contribute" to reducing inflationary pressures in the long term by increasing productivity and reducing production costs.
The President of the ECB estimates that the AI could raise European productivity by 0.3% to 0.4% per year over the next decade and calls for accelerated adoption.
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