AI crucial for driving growth, says BoE governor
Bailey compares technology’s transformative potential to advances of industrial revolution
The governor of the Bank of England has said artificial intelligence needs to be fully harnessed if societies are to achieve continued economic growth.
In a wide-ranging lecture on March 24 with the title “Growth: What does it take in today’s world?”, Andrew Bailey said AI’s transformative potential was similar to that of the general purpose technologies (GPTs) that had underpinned the UK’s industrial revolution.
“A GPT has the potential to be used across a wide part of the economy, like
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