AI may boost euro area productivity growth by 4% in 10 years, ECB says

Artificial intelligence could lift euro zone productivity growth by more than 4 percentage points over the next decade, although a prolonged energy shock could slow progress, European Central Bank chief economist Philip Lane said on Monday.

While the ECB’s immediate focus is the conflict in the Middle East and ‌what it may ⁠mean ⁠for inflation, Lane highlighted AI as a key long-term driver for the bloc’s economic ​fortunes.

He told an ECB conference the potential payoff from AI adoption would vary widely ​depending on how fast the technology spread.