European Central Bank Chief Economist: AI financing accounted for 25% of corporate loan growth

On November 13, European Central Bank Chief Economist Lane said on Friday in an interview with the Financial Times that artificial intelligence (AI) financing currently accounts for approximately one-quarter of eurozone corporate bank loan growth. Despite rising interest rates and the adverse impact of oil price shocks, credit creation across the 21 eurozone member countries has demonstrated resilience beyond expectations.

Lane noted that without financing demand in the AI sector, the annual growth rate of corporate loans would stand at merely 3%, instead of the current 4%, although the AI industry's overall footprint in the European economy remains relatively small. “Roughly a quarter of credit growth this year comes from the AI sector, even though these AI industries do not yet account for a quarter of the overall economy,” he said. He reiterated that he prefers to see companies raise more equity financing rather than rely on debt, enabling native AI firms to develop more rapidly. (Jin10)