Fed's Vice Chair Of Supervision Barr Says Generative AI Could Potentially Improve Productivity Growth, Quickly; Generative AI Could Also Eliminate Some Jobs, Cause Serious Dislocation
Portfolio Pulse from Benzinga Newsdesk
Fed's Vice Chair of Supervision, Barr, has stated that generative AI could potentially improve productivity growth rapidly. However, he also warned that it could eliminate some jobs, causing serious dislocation.
October 02, 2023 | 5:51 pm
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The comments by Fed's Vice Chair could impact the broader market, represented by SPY, as they highlight both the potential benefits and risks of AI.
The comments by Fed's Vice Chair could have a mixed impact on the broader market. While the potential for AI to boost productivity could be positive for many companies, the risk of job losses could be a concern for others. This could lead to some volatility in the market, represented by SPY.
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