Bank of Italy says it is talking to the world’s big AI firms The Bank of Italy, through its governor Fabio Panetta, is engaging directly with leading artificial intelligence developers to understand the technology’s potential impact on Italy’s economy. Panetta highlighted AI as a possible solution to the country’s two-decade-long productivity stagnation, suggesting significant economic growth could be achieved with broad adoption. To facilitate this, the bank is encouraging Italian lenders to adopt AI and is advocating for stronger domestic venture capital to support local AI companies.

• The Bank of Italy is in direct contact with major AI developers.
• Governor Fabio Panetta sees AI as a potential solution to Italy’s low productivity growth.
• AI adoption could increase Italian productivity by 0.2% to over 1% annually.
• Currently, only 30% of Italian firms use AI, with just 5% using it intensively.
• Panetta advocates for deeper venture capital and private equity to help Italian AI companies scale.
• The bank is encouraging Italian lenders to adopt AI technologies.
• This engagement signals a proactive stance by the central bank to understand and shape AI’s integration, rather than just regulate it. Continue reading https://thenextweb.com/news/bank-of-italy-says-it-is-talking-to-the-worlds-big-ai-firms