The Bank of Canada has published an assessment of how artificial intelligence could transform the economy, emphasizing that the timing and scale of its effects remain uncertain. AI could raise productivity, increase the supply of goods and services and allow faster economic growth without generating inflation, but the largest gains may take decades to emerge and may not be distributed evenly. AI is already saving time on some tasks and driving infrastructure investment, primarily in the United States. While automation may disrupt some jobs, current systems still require human oversight because they can produce inaccurate or fabricated information and generally cannot perform entire jobs from start to finish. The Bank will monitor how adoption affects the economy and support the adjustment by keeping inflation at or around 2%, although monetary policy cannot offset the underlying structural changes.
2026-09-18Bank of Canada
Bank of Canada assesses AI’s potential effects on productivity, employment and inflation
The Bank of Canada says AI could raise productivity and living standards, but the timing, scale and distribution of the gains remain uncertain. AI may reshape tasks and disrupt some jobs, while its limitations mean human oversight remains necessary. The Bank will monitor the transition while aiming to keep inflation at or around 2%.