ECB Chief Economist Says AI Will Lift Productivity and Europe Should Help Tech Firms Scale

Philip R. Lane, chief economist at the European Central Bank, said artificial intelligence will raise productivity during an appearance on a Hoover Institution podcast. In the discussion, Lane spoke with University of Chicago professor Steven J. Davis about differences between Europe and the United States in AI adoption. He also addressed what Europe needs to do to help its technology companies grow at a larger scale. The remarks focused on AI’s economic impact and on the policy or structural steps Europe may need if it wants local tech firms to expand more effectively. The comments were cited by Techub News, which attributed the remarks to the ECB official’s podcast appearance.