Bank of Canada switches to a new forecasting model for its October rate call
Macklem said Monday when asked about security issues with AI that it’s “still early days,” and the bank wants to use it responsibly with human control, the Financial Post reported.
He said the technology “wasn’t great” when the bank first started using it but has since improved.
Statistics Canada data for the second quarter of 2026 showed 19.2 percent of Canadian businesses had used AI to produce goods or deliver services in the previous 12 months, roughly triple the share in the second quarter of 2024.
Information and cultural industries, finance and insurance, and professional, scientific and technical services were the most likely users.
In the bank’s first-quarter Canadian Survey on Consumer Expectations, more than 30 percent of respondents said they use AI to generate and edit content at work, almost 25 percent said they use it to analyze data, code or conduct research, and a little more than 20 percent said they use it to automate work.
