The adoption of artificial intelligence tools is likely to have a minimal impact on inflation in the long term, even as it causes significant changes in the labour market, says Reserve Bank of Australia chief economist Sarah Hunter.
Speaking at the UBS Australasia Conference on Monday, Hunter also acknowledged the short-term inflationary effects of the AI buildout, with the RBA having increased its data centre investment expectations 10-fold in just three years as it undertakes a “broad research agenda” to estimate the effects of AI on the economy.
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