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Artificial intelligence is helping to boost productivity across the euro zone, but it has not yet led to widespread job losses or large-scale automation-driven layoffs, European Central Bank President Christine Lagarde said on Thursday.
Speaking before a committee of the European Parliament, Lagarde noted that the immediate impact of AI has been efficiency gains rather than labour displacement.
“What we are seeing for the moment is that it’s increasing productivity,” Lagarde said. “But we are not yet seeing consequences in terms of the labour market and waves of redundancies that are feared.”
She added that the ECB remains closely attentive to how AI adoption could affect employment over time, acknowledging concerns that deeper automation could eventually reshape labour markets as the technology becomes more embedded across industries.
