Productivity Boost From AI to Roll Out Slowly, Senior Bank of Canada Official Says

By Paul Vieira

OTTAWA--Canada is beginning to record some early productivity gains from firms adopting artificial intelligence but it will take some time before significant improvements start to emerge, a senior Bank of Canada policymaker said.

Deputy Governor Michelle Alexopoulos said Canada remains in the early days of AI adoption, adding the technology could lower costs for businesses, support higher wages and spur new investment.

"AI adoption remains concentrated in a few sectors," said Alexopoulos, according to prepared remarks she is scheduled to deliver at a Ottawa economics conference. Among the sectors heavily deploying AI are financial services, information technology and health care. "This means that even if some firms are seeing benefits, it will likely take time before significant gains show up in overall productivity data."

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(END) Dow Jones Newswires

05-13-26 1120ET