Boosting education will help address short-term economic pain of AI, Mark Carney tells U of T audience

Boosting education will help address short-term economic pain of AI, Mark Carney tells U of T audience

The revolution spawned by artificial intelligence and machine learning will – like previous industrial revolutions – hurt employment and wage levels in the short term, Bank of England Governor Mark Carney told a University of Toronto audience on Tuesday. But in the long run, he said, productivity gains will kick in and employment levels will recover, if historical precedents are a guide.

Carney, a former Bank of Canada governor, was speaking at the fourth annual conference on Machine Learning and the Market for Intelligence organized by the Creative Destruction Lab at U of T’s Rotman School of Management. About 600 […]

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