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Federal Reserve Chair Kevin Warsh says AI could make economies that use it well more productive and wealthier, but warns the path there will be “very bumpy”. He also said AI’s near-term effects on jobs and the wider economy remain unknown.
Why it mattersWarsh made the remarks at an IMF event in Bangkok, CNBC reports. For a senior central banker, that is an unusually direct acknowledgement that the technology’s economic gains and disruption may arrive on different timetables. The optimism is real; so is the uncertainty.
Discuss: Is it a central banker’s job to prepare for AI’s economic disruption now, or to wait for clearer evidence?
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