Fed's Cook Says Optimistic AI Can Boost Productivity; AI Has Potential For Negative Employment Impacts
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve Governor Lisa Cook expressed optimism about AI's potential to boost productivity but also warned of possible negative impacts on employment. The balance between productivity gains and job displacement remains a key concern.
September 26, 2024 | 2:37 pm
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The Federal Reserve's positive outlook on AI's potential to boost productivity could have a favorable impact on the broader market, as represented by SPY. However, concerns about employment impacts may temper enthusiasm.
SPY, as an ETF representing the S&P 500, could benefit from AI-driven productivity gains. However, the potential negative impact on employment could offset some of the positive sentiment, leading to a neutral short-term impact.
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