In her inaugural address as external deputy governor of the Bank of Canada, Michelle Alexopoulos expressed a positive outlook on artificial intelligence (AI) as a solution to the country’s productivity challenges. She emphasized that AI could enhance output across sectors without significantly displacing jobs, potentially improving business competitiveness and benefiting consumers through cost savings. With a forecasted increase in AI adoption—about 12% of Canadian firms expected to incorporate the technology by 2025—Alexopoulos underscored AI’s role as a “general purpose” technology that fosters innovation and economic growth. Her comments reflect the Bank of Canada’s commitment to leveraging AI for a more productive future. Source and details of the news