“With artificial intelligence, we are facing potentially powerful revolutions in the digital sphere. It is too early to say how this will affect the economy. Everyone expects it to have a positive impact, but with a series of risks, in terms of the concentration of power, possible inequalities and their effects on employment,” Bank of Italy Governor Fabio Panetta told ANSA on the sidelines of the G20 summit in Rio de Janeiro, noting that the technological issue is “closely linked to economic security.”
“We need to respond to the economic fragmentation at the global level, which could be exacerbated in the coming months by political changes in major countries, with negative effects on growth,” the governor added. “We need to identify trade agreements – he says – that are acceptable to the various parties but do not limit growth and the availability of goods and services. And above all do not fuel inflation again: at the moment, central banks are complementing and slowing inflation and a new acceleration in consumer prices would hurt everyone.”
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