US Fed Chief on AI's Job Market Impact
Federal Reserve Chairman Jerome Powell described the artificial intelligence boom as the most impactful transformation for the global economy in his lifetime. He expects it to enhance productivity and generate additional wealth, despite short-term risks such as rising prices and potential market instability. He pointed out that AI supports economic growth and global trade, and although its impact on the labor market remains uncertain over the next 12 to 18 months, the benefits could be substantial if used effectively. Conversely, the International Monetary Fund warned of potential risks to financial and economic stability if sudden market fluctuations occur.
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