BoC's Macklem Discusses AI's Impact on Jobs and Inflation
Friday, 20 September 2024, 05:21
AI's Influence on Employment
Bank of Canada Governor Tiff Macklem has warned that the rise of artificial intelligence (AI) may lead to job losses that could outweigh job creation. In recent comments, he outlined how central banks must brace for the inflationary pressures associated with this technological shift.
Why Central Banks Should Act Now
- Job Displacement: AI might automate tasks previously handled by humans.
- Inflationary Considerations: Rapid AI integration could drive costs higher.
- Proactive Measures: Central banks must develop strategies to mitigate risks.
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