1 day ago
ZURICH, Aug 21 (Reuters) - Artificial intelligence can push inflation higher in the short term although the overall effect of the technology remains unclear, Swiss National Bank governing board member Petra Tschudin said in an interview published on Friday.
The central bank was looking closely at the impact of AI on prices, saying it could have an effect in both directions, Tschudin told newspaper Finanz und Wirtschaft.
"Investment flows are being partly redirected, which can mean adjustments and difficulties for the rest of the economy," Tschudin said.
"Shortages can occur, for example with chips, causing prices to rise. In the short or medium term, therefore, upward inflationary pressure can also arise."
In the longer term artificial intelligence could also lower prices by increasing productivity and making goods cheaper, she said.
#tschudin #artificial #bank #zurich
The central bank was looking closely at the impact of AI on prices, saying it could have an effect in both directions, Tschudin told newspaper Finanz und Wirtschaft.
"Investment flows are being partly redirected, which can mean adjustments and difficulties for the rest of the economy," Tschudin said.
"Shortages can occur, for example with chips, causing prices to rise. In the short or medium term, therefore, upward inflationary pressure can also arise."
In the longer term artificial intelligence could also lower prices by increasing productivity and making goods cheaper, she said.
#tschudin #artificial #bank #zurich
