Former German Central Bank President Axel A. Weber on Artificial Intelligence: The Seeds Have Been Planted for Strong Long-Term Growth

Deep News10-24

In the context of the 2025 Bund Summit, held from October 23-25 in the Huangpu District of Shanghai with the theme “Embracing Change: New Order, New Technology,” Axel A. Weber, Chair of the Financial Research Center at Frankfurt University and former President of the German Central Bank, participated in the Bund Roundtable on “Intelligent Leap: The Macroeconomic Implications of AI.”

Axel A. Weber asserted that artificial intelligence represents a new general-purpose technology. In the short term, this will lead to significant efficiency gains for early adopters in certain fields; however, its long-term effects on human society will be all-encompassing. "I believe we are seriously underestimating the impact of this technology and its output. It's just that, at present, it doesn't fit into our GDP framework. But in the long run, the growth will be very strong. The seeds have already been planted; it just appears rather ordinary in the short term."

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