AI 'most consequential change' to economy: Warsh
Artificial intelligence (AI) is expected to be the most significant economic transformation in Kevin Warsh's lifetime, according to Federal Reserve Chair Kevin Warsh. Speaking with IMF Managing Director Kristalina Georgieva, Warsh noted that AI's real-world impact is likely to be more noticeable on the demand side than through a supply-side shock.
He suggested that economies adopting AI effectively could become more productive and generate greater wealth. However, Warsh emphasized that the transition could be challenging and that the impact on employment over the next 12 to 18 months remains uncertain. The surge in investment and rising prices are also areas of concern for central bankers worldwide, according to Warsh's interactions during the fireside chat in Bangkok.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Fed’s Warsh says AI ‘most consequential change’ to economy in his lifetime freemalaysiatoday.com
- AI 'most consequential change' to economy: Kevin Warsh news.rthk.hk
