National Bank calls for “sensible” regulation of AI | Tech

According to the National Bank, AI is capable of generating long-term productivity growth and improving our standard of living. For example, artificial intelligence can contribute to increased productivity by automating tasks, analyzing large amounts of data and freeing up employees’ time for more complex tasks.

The impact of AI on employment is still under debate. For example, there is a risk that certain categories or skills of employees will be replaced by AI. “Nevertheless, studies indicate that the level of employment has remained stable despite its introduction,” said the NBB. “While AI can outperform humans in certain tasks, humans still retain an advantage in soft skills in particular.”

To address the AI ​​challenges, policymakers can prioritize research and development in AI, invest in infrastructure and talent, and develop a regulatory framework to foster innovation and minimize risk, according to the NBB. In addition, they can also invest in programs that teach the required skills to work with AI. They can also set up ethical and regulatory frameworks for the development and deployment of AI, according to the NBB.