2026-10-30 · 1 statements · 1 actors
Philip R. Lane speech 'AI adoption in Europe', 30 Oct 2026
ECB Chief Economist Philip R. Lane speech on AI-related investment, trade, inflation and adoption in the euro area.
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European Central Bank
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Philip R. Lane: AI adoption in Europe
2026-10-30 · central bank · one of several topics in this statement
Lane says digital investment in the euro area has risen in real terms since 2014 and has been concentrated in intangible assets rather than data centres, and that AI-related demand has helped activity hold up. He attributes the stronger US digital investment growth to a comparison with the euro area.
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Philip R. Lane: AI adoption in Europe
2026-10-30 · central bank · one of several topics in this statement
Lane states that European firms contribute to the global AI supply chain, that AI-related price increases have contributed to goods inflation, and that the effect on headline inflation is limited given the low HICP weight of AI-exposed goods.
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Philip R. Lane: AI adoption in Europe
2026-10-30 · central bank · one of several topics in this statement
Lane says European investors buy US tech equities and euro-denominated bonds issued by US firms, and that the data so far suggest only limited crowding-out of other borrowers.
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Philip R. Lane: AI adoption in Europe
2026-10-30 · central bank · one of several topics in this statement
Lane cites earnings-call data and the SAFE survey to show rising AI mentions by firms and reported AI use, with only 7 per cent describing their use as significant, and notes firms underestimate peer adoption.
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Philip R. Lane: AI adoption in Europe
2026-10-30 · central bank · one of several topics in this statement
Lane reports that the share of workers using AI at work has doubled over two years to 52 per cent, with a median time saving of three hours per week among working users, highly skewed across users.