Analyses focus on current issues of particular relevance to Danmarks Nationalbank’s objectives. The analyses may also contain Danmarks Nationalbank’s recommendations. They include our projections for the Danish economy and our assessment of financial stability. Analyses are targeted at people with a broad interest in economic and financial matters.
Artificial intelligence can boost productivity in the Danish economy
The world is seeing rapid advances in artificial intelligence (AI), which has the potential to transform the economy. This can mean a boost in productivity, although the extent and timing of the effect are subject to considerable uncertainty. How much AI will impact productivity in the coming years depends on several factors, including how the technology develops and whether it drives more innovation alongside increased automation. Future productivity developments are key to the resilience of the Danish economy and thus Danmarks Nationalbank's work areas.
Key messages
Why is it important?
Artificial intelligence is expected to positively impact productivity in the Danish economy in the coming years. To what extent and how is a key question for the work of Danmarks Nationalbank. This is because the productivity development affects potential growth, competitiveness, the natural real interest rate and inflation.
Main chart
The use of AI has increased rapidly in Denmark
Note:
Percentage of companies using AI. Companies with at least ten employees in the private, non-financial urban industries.
Source:
Statistics Denmark.