Bank for International Settlements warns AI boom may spark global recession
The Bank for International Settlements warned that the AI boom could trigger a global recession by displacing middle-class jobs. The report highlighted potential economic risks similar to past financial manias, stating that ongoing labor displacement may challenge the net creation of jobs. Investments from major US companies in AI are expected to reach $1 trillion.
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Published 28 Jun 2026, 09:00 UTC · Updated 28 Jun 2026, 09:10 UTC
Summary by OZbrief Editorial. Original report: SMH. Editorial policy · Corrections
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