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The transformative power of AI: economic implications and challenges

Tuesday, 1 and Wednesday, 2 April 2025 | European Central Bank, Frankfurt am Main

Introduction

Recent advances in the field of Artificial Intelligence (AI) have the potential to transform our economies, from providing workers with new productivity-enhancing tools to enabling businesses to optimise their pricing strategies in new ways. However, AI-powered technologies also raise ethical and regulatory concerns. Given this ambivalence, a better understanding is needed of the economic implications and challenges associated with AI.


LISER's PARTICIPATION

Christina Gathmann, Director of the Labour Market Department at LISER will be one of the speakers at this conference. She is also affiliated with CEPR, CESifo, the Institute of Employment Research (IAB), IZA, the University of Luxembourg, and ZEW. As a labor economist, her research focuses on the evolution of human capital, the interaction between skills and technology, migration, the spatial distribution of economic shocks, and public policies.

Programme


9:00-12:45

AI workshop

ECB staff presentations on AI-related work. Participants attending the conference in person are welcome to join the workshop. The workshop will be followed by a buffet lunch.

The AI workshop will take place in a different venue to the conference, i.e. in room C2.06.

14:00

Start of conference

Registration and Coffee

14:30

Welcome address

Christine Lagarde, ECB

14:50

Keynote speech: The transformative power of AI—uses and applications of a new general-purpose technology

Kristina McElheran, University of Toronto, Rotman School of Management

15:45

Coffee break

16:15

Session 1
How is AI transforming the labour market?

Session chair: Luc Laeven, ECB

AI, task changes in jobs, and worker reallocation

  • Christina Gathmann, LISER, University of Luxembourg and CEPR
  • Felix Grimm, LISER
  • Erwin Winkler, University of Erlangen-Nuremberg, IZA and LASER

    Discussant: Antonio Dalla Zuanna, Banca d'Italia

17:10

AI adoption and the demand for managerial expertise

  • Liudmila Alekseeva, KU Leuven
  • José Azar, University of Navarra and IESE Business School
  • Mireia Giné, IESE Business School
  • Sampsa Samila, IESE Business School

Discussant: Juan F. Jimeno, Banco de España 


18:05

End of first conference day


18:30

Reception with introductory remarks and keynote speech followed by dinner – by invitation only

Introductory remarks

Philip R. Lane, ECB

Keynote speech: AI research for climate change and environmental sustainability

Claire Monteleoni, INRIA and University of Colorado

*NOTE: There will be a livestream of the event that will start as from 14:30 on YouTube