AI Limits Euro Zone Wage Growth Says ECB Lane
ECB chief economist Philip Lane noted that artificial intelligence adoption by euro zone companies is curbing worker bargaining power and slowing wage growth. Heavy global borrowing to fund AI technology is also tightening financial conditions across the region.
Artificial intelligence adoption is dampening workers' wage demands across the euro zone while heavy technology investments tighten broader financing conditions, European Central Bank chief economist Philip Lane said on Tuesday.
