Studies of the impact of robots on labour markets often conceptualise jobs as bundles of distinct tasks. In such frameworks, technologies substitute or complement workers. But this view may overestimate the potential adverse effects of automation, particularly in developing countries. This column distinguishes between technical feasibility and economic viability of adopting industrial robots and artificial […]
As large language models gain traction, it is important to ensure that decisions delegated to them comply with ethical and legal principles. This column reports on an experiment in which state-of-the-art large language models were prompted to impersonate the CEO of a fictitious financial firm needing to repay corporate debt urgently with no funds available […]
The world is moving into a period of entrenched manufacturing overcapacity, threatening deflation and stagnant growth. Over the past two decades, China has emerged as the world’s manufacturing powerhouse. By offering goods at significantly lower prices than its competitors, China has captured a huge share of the global market. However, this flood of inexpensive goods […]
Britain’s ambition to rev up its economy and tap the AI revolution faces the harsh reality that the abundant, clean and reliable electricity supply this requires is unlikely to materialise any time soon. Prime Minister Keir Starmer has laid out several major industrial policies aimed at reviving Britain’s sluggish economy, including by pouring investment into the artificial […]
We live in a world overflowing with data, yet turning this abundance into economic growth and job creation remains a significant challenge. Cloud computing has emerged as a powerful tool for this transformation, especially in developing economies. Traditionally, firms in these countries have faced barriers to accessing computing power, largely due to the high upfront […]
Artificial intelligence is rapidly reshaping the financial sector. This column introduces the seventh report in The Future of Banking series, which examines the fundamental transformations induced by AI and the policy challenges it raises. It focuses on three main themes: the use of AI in financial intermediation, central banking and policy, and regulatory challenges; the […]
Public employment services are rapidly turning to artificial intelligence (AI) to develop a range of sophisticated digital tools. According to a recent survey, half of the public employment agencies in OECD countries have implemented AI solutions such as chatbots that assist with service inquiries, profiling models to assess jobseeker needs, tools that guide job-search strategies, and […]
Critical technologies including artificial intelligence, semiconductors and quantum computing are attracting attention because of their indispensable nature and their role in national security strategies. We compare China, the United States and the European Union in these technologies and their subfields. We use large language models (LLMs) to identify which patents in these technologies can be […]
The long-term effects of artificial intelligence are still unknown, as productivity benefits may be compromised by unintended costs. This column assesses the local effects of shocks to AI job postings on municipal capital markets. It finds that increases in postings are linked to declines in municipal bond yields, particularly for riskier and longer-term bonds. Furthermore, […]
