ECB Chief: Europe Risks Paying for the AI Boom in the United States

ECB Chief: Europe Risks Paying for the AI Boom in the United States

Speaking in Vienna, Ch. Lagarde said that there is essentially nothing wrong with importing foreign technologies. However, the applicability of AI tools across the economy, as well as the need to share commercially sensitive data with these technologies, makes them a special case, she added.

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“In a few years, it (AI – BNS) will check goods at the border, decide which tax declarations will be audited, regulate train traffic, monitor patients in wards, and manage payments in banks,” she said. “Revoking access or changing its conditions would then simultaneously affect all sectors. This is an influence that no trading partner has ever had on Europe.”

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