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ECB's Lane says AI can lift output, but brings risks

ECB board member Philip R. Lane said AI can lift productivity and living standards, while noting financial stability, labour and policy risks in Europe.

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  • Lane said firms are set to devote around 10% of total investment to AI this year.
  • He said 64% of firms in an ECB survey were using AI experimentally or moderately.
  • Lane said 52% of workers now report using AI at work, up from 26% in 2024.

Action

Philip R. Lane, a member of the ECB Executive Board, told the International AI Summit in Dublin that AI is a general purpose technology that can raise living standards and productivity.

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ECB's Lane says AI can lift output, but brings risks

He said the ECB is closely monitoring and analysing AI's impact on the euro area economy. He also said the ECB has an extensive internal AI adoption agenda.

Respondents

Lane said many actors have a role in delivering AI's benefits. He named frontier model developers, AI infrastructure builders, entrepreneurs, the research and development community, energy system operators, the financial system, education and training sectors, and managers and workers.

He said political systems, civic society, policymakers and regulators at national, European and global levels face ethical, fiscal, governance and legal issues posed by AI.

Effective

Lane said firms are set to devote around 10% of their total investment to AI this year. He said AI-related lending accounts for roughly one quarter of recent credit growth to firms.

In the ECB's Survey on the Access to Finance of Enterprises for the fourth quarter of 2025, 64% of firms said they were using AI either experimentally or moderately, while 7% said their use was significant.

Lane said a household survey showed 52% of workers now use AI at work, compared with 26% in 2024. He said workers are reporting significant time savings, concentrated in coding and other specialised tasks.

He said aggregate employment trends have not changed materially, but hiring plans are muted. He also said some sectors are more optimistic than others, depending on their exposure to AI infrastructure buildout or substitution risk.

Penalty

No penalty was announced.

Source: ECB,