BOJ's Ueda says Japan could do well with AI replacing labor, given existing shortages
On November 6, Bank of Japan Governor Kazuo Ueda indicated in a speech at an International Monetary Fund event that Japan's economy could benefit from rapid advancements in artificial intelligence, as AI could replace labor in light of significant labor shortages. However, Ueda also expressed concern over cyber risks that could potentially impact financial stability. He noted that some small banks and firms had not adequately addressed these cybersecurity issues.
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