{"id":248890,"date":"2025-10-29T23:26:15","date_gmt":"2025-10-29T23:26:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/248890\/"},"modified":"2025-10-29T23:26:15","modified_gmt":"2025-10-29T23:26:15","slug":"bank-of-canada-unsure-on-ai-impact-on-economy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/248890\/","title":{"rendered":"Bank of Canada unsure on AI impact on economy"},"content":{"rendered":"<p class=\"c-paragraph\">OTTAWA \u2014 The Bank of Canada says it doesn\u2019t know how new artificial intelligence products will affect the Canadian economy. <\/p>\n<p class=\"c-paragraph\">Bank of Canada Governor Tiff Macklem says the technology has the potential for both economic benefit and harm.<\/p>\n<p class=\"c-paragraph\">Macklem says AI could have the sort of impact the introduction of computers and the internet did on global commerce and standards of living.<\/p>\n<p class=\"c-paragraph\">He also says AI could eliminate many existing jobs and sees AI tech being implemented at a faster pace than previous game-changing technologies.<\/p>\n<p class=\"c-paragraph\">The bank\u2019s new monetary policy report points out that the United States has benefited greatly this year from AI investment and a surge in stock prices for firms linked to the technology.<\/p>\n<p class=\"c-paragraph\">But it also says a significant reassessment of AI\u2019s performance could cause a sharp correction in stock market valuations \u2014 potentially undermining consumer confidence in the U.S. and Canada and spurring a widespread economic downturn.<\/p>\n<p class=\"c-paragraph\">This report by The Canadian Press was first published Oct. 29, 2025.<\/p>\n<p class=\"c-paragraph\">Justin Escoto, The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"OTTAWA \u2014 The Bank of Canada says it doesn\u2019t know how new artificial intelligence products will affect the&hellip;\n","protected":false},"author":2,"featured_media":248891,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[62,276,277,4498,45,49,48,46,133,47,66,61],"class_list":["post-248890","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-banks","tag-business","tag-ca","tag-canada","tag-economy","tag-finance","tag-national","tag-science","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/248890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=248890"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/248890\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/248891"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=248890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=248890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=248890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}