Australia's central bank exploring how AI can affect economy, governor says

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• Australia's central bank exploring how AI can affect economy, governor says</p>

<p>September 3, 2025 at 5:17 AM</p>

<p>SYDNEY (Reuters) -Australia's central bank is exploring how emerging technologies like artificial intelligence could influence the economy, with possible implications for inflation and the labour market, its governor said on Wednesday.</p>

<p>In a speech in Perth, Reserve Bank of Australia (RBA) Governor Michele Bullock said there was a lot of uncertainty about how the technological change will affect the economy, but policymakers needed to be alert to different possible impacts.</p>

<p>"Technological change has always reshaped the labour market, and AI is no exception," said Bullock. "While many experts anticipate a net increase in jobs, it is likely to be more nuanced: some roles will be redefined, others might be displaced, and entirely new ones will be created."</p>

<p>She added that central bank itself has been boosting its AI capabilities by acquiring the first enterprise-class graphics processing unit (GPU), which will allow it to develop AI-driven analytical tools.</p>

<p>"To be clear, we are not using AI to formulate or set monetary policy or any other policy," Bullock said.</p>

<p>"Instead, we are looking to leverage it to improve efficiency and amplify the impact of staff efforts in areas such as research and analysis."</p>

<p>(Reporting by Stella Qiu; Editing by Kim Coghill)</p>

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