FRANKFURT, March 4 (Reuters) – The increasing use of artificial intelligence by firms may be creating some jobs in the euro zone rather than destroying them as many fear, a European Central Bank blog post argued on Wednesday.
Economists have been debating whether AI could put white collar staff out of work, and a recent study by Germany’s Ifo Institute found that more than a quarter of German firms expect AI to lead to job cuts in the next five years.
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But the ECB’s own Survey on the Access to Finance of Enterprises found that companies making significant use of AI are more likely to take on additional staff in the near term.