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Artificial intelligence, the economy and central banking

· Tiff Macklem, Governor of the Bank of Canada (Canada)

Summary written by Dark Majestic in its own words · topics: technology, ai and cyber risk

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· Tiff Macklem Wiki · Bank of Canada WikiArtificial intelligence, the economy and central banking

ContextRemarks at the NBER conference on the economics of artificial intelligence in Toronto; the Bank of Canada keeps inflation low and studies how AI may change the economy.

Why it mattersMacklem examines whether generative AI could lift productivity and how his staff should use it.

Problems raised
  1. AI is disrupting industries.
  2. AI can produce unreliable content.
  3. Financial institutions face AI risks.
Solutions proposed
  1. Be transparent about AI use.
  2. Keep safeguards and scepticism.
  3. Study AI's effects on the economy.
Read full speech on bis.org ↗

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