WASHINGTON, Nov 6 (Reuters) – Bank of Japan Governor Kazuo Ueda on Friday said rapid advancements in artificial intelligence had provided a positive demand shock for the Japanese economy, but supply side factors would also need to be studied. Ueda, speaking at an event hosted by the International Monetary Fund, said Japan could do well […]
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BOJ’s Ueda says Japan could do well with AI replacing labor, given existing shortages
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WASHINGTON, Nov 6 (Reuters) – Bank of Japan Governor Kazuo Ueda on Friday said rapid advancements in artificial intelligence had provided a positive demand shock for the Japanese economy, but supply side factors would also need to be studied.
Ueda, speaking at an event hosted by the International Monetary Fund, said Japan could do well with AI replacing labor given its significant labor shortages.
He said he worried about cyber risks in terms of financial stability, adding that some small banks and small firms had not done enough to guard against such risks.
(Reporting by Andrea Shalal and Leika Kihara; Editing by Chizu Nomiyama)