Bank of Canada Sees AI as Possible Productivity Salve

The Bank of Canada struck an optimistic tone on the economic impact of artificial intelligence, arguing that widespread adoption of the technology will boost the country’s ailing productivity without significant job losses.

In her first speech as external deputy governor, Michelle Alexopoulos extolled AI for its potential to increase output per hour worked, adding that it could also improve business competitiveness, boost wages for workers and create cost savings for consumers.