ECB Chief Economist: AI Financing Accounts for 25% of Corporate Loan Growth

ECB Chief Economist Philip Lane stated that artificial intelligence (AI) financing accounts for approximately 25% of the growth in bank loans to businesses in the eurozone. Despite the negative impacts of rising interest rates and oil price shocks, the credit creation in the 21 member countries of the eurozone continues to show unexpected resilience. Lane pointed out that without the financing demand in the AI sector, the annual growth rate of corporate loans would only be 3%, rather than the current 4%. He emphasized that although the AI industry still represents a small share of the overall European economy, about a quarter of this year's credit growth comes from the AI sector. Lane hopes that businesses can access more equity financing to promote the rapid development of native AI companies.

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