Bank of Canada Trying to Figure Out How AI Might Affect Inflation, Macklem Says

Bank of Canada Trying to Figure Out How AI Might Affect Inflation, Macklem Says
Governor of the Bank of Canada Tiff Macklem speaks during a news conference on the Bank of Canada's rate announcement in Ottawa on June 5, 2024. The Canadian Press/Justin Tang
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Bank of Canada governor Tiff Macklem says there is a lot of uncertainty around how artificial intelligence could affect the economy moving forward, including the labour market and price growth.

In a speech in Toronto at the Economics of Artificial Intelligence Conference, the governor said Friday that the central bank is approaching the issue cautiously to get a better understanding of how AI could affect its job of keeping inflation low and stable.