BIS predicts AI will be inflationary in long term
Expects accelerated inflation dynamics as firms adjust prices in response to shocks
The impact of artificial intelligence (AI) on the economy and financial system will be “profound”, the Bank for International Settlements (BIS) said on June 25, predicting higher inflation in the long term.
The BIS released a chapter of its Annual Economic Report on the AI revolution early, before the full report goes live on June 30.
AI is expected to raise productivity over the next 15 years. But, according to the BIS’s models, the effect could be inflationary or disinflationary in the short
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