ECB's Philip Lane presents a simulation in which an AI productivity shock in IT lifts euro-area output 3.8% by 2030

In an Oct. 30 keynote at the San Francisco Fed, Lane says the model assumes a 30% productivity rise in IT services, with output up 4.1% and consumption 5.5% in the long run and job losses concentrated in IT; it is an illustrative scenario, not an ECB forecast.