RBA's Hunter says AI has yet to deliver productivity boost, trigger job losses
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Reserve Bank of Australia Assistant Governor Sarah Hunter said on Monday there is limited evidence that AI has boosted productivity or caused job losses.
- ✓She warned that AI could pose risks to financial stability.
- ✓Hunter noted, "Over time, supply will catch up with demand as data centre capacity and sectors expand."
Story at a Glance
- Category
- Indian Markets
- Reported By
- Reuters
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
SYDNEY, Nov 9 (Reuters) - A senior Australian central banker said on Monday there was limited evidence that artificial intelligence had meaningfully lifted productivity and caused widespread job losses, but warned the technology could pose growing risks to financial stability.
Speaking at a UBS conference in Sydney, Reserve Bank of Australia Assistant Governor Sarah Hunter judged the impact from AI on inflation would likely vary over time, initially boosting demand and adding to price pressures at a time when the economy was supply constrained.
Sign up here.
"Over time, supply will catch up with demand as data centre capacity and related sectors expand, easing current bottlenecks," she said.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
Reuters
Read the full, original unfiltered story directly on the publisher's portal.
This brief is for information only and is not investment advice. ArthNow is not a SEBI-registered investment adviser and does not publish buy or sell recommendations. Original reporting is credited to the publisher named above. Read our editorial policy or report an error.