The Federal Reserve is investigating possible effects generative artificial intelligence (AI) may have on productivity, inflation and the labor market, Fed Chair Jerome Powell said Tuesday (July 2).
Speaking during a panel discussion at the European Central Bank ’s Forum on Central Banking in Portugal, Powell said that the massive investments being made in AI suggest “a sense of something big coming here,” Seeking Alpha reported Tuesday.
It’s too early to tell whether the adoption of this technology will eliminate jobs, augment existing jobs or create new ones, Powell said, according to the report.“There’s not a lot a central bank can […]
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