Analysis:AI boom will be no free pass for debt-laden major economies
CNA
LONDON, Feb 27 : An AI productivity boom, if it materialises, may help buy major economies more time to clean up their strained public finances, economists say, although it won't do the heavy lifting. The stakes couldn't be higher. Debt is above 100 per cent of output across most rich economies and set to ris
LONDON, Feb 27 : An AI productivity boom, if it materialises, may help buy major economies more time to clean up their strained public finances, economists say, although it won't do the heavy lifting.
The stakes couldn't be higher. Debt is above 100 per cent of output across most rich economies and set to rise given ageing population costs, interest bills and pressure to spend more on defence and climate change.
U.S. policymakers are already optimistic on AI-driven growth and economists say the technology has the potential to shake the world out of a post-2008 productivity slump by boosting workers' efficiency and freeing them to focus on more productive tasks.
Higher economic growth would make government spending and debt loads potentially more manageable and help fend off scrutiny from bond vigilantes.
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