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Stock impact report

Is Canada's AI boom just feeding the usual suspects? [Wealth Professional (Canada)]

Royal Bank Of Canada (RY) 
Last royal bank of canada earnings: 2/21 06:00 am Check Earnings Report
US:NYSE Investor Relations: rbc.com/investorrelations/index.html
Canada's biggest risk may be that its capital and technology keep pooling at the top. According to Bloomberg , Bank of Canada Senior Deputy Governor Carolyn Rogers warned that future inflation risks could rise if artificial intelligence investment stays concentrated in big companies instead of spreading to small- and medium-sized businesses. Large firms can make “big bets on technology,” she said, but Canada's “ailing productivity” is more likely to improve if AI adoption broadens and competition increases. Rogers cautioned, “You also don't want things concentrated in big firms. That's not good for productivity either,” adding that if gains stay in those firms, they are unlikely to “translate to gains across the economy .” The stakes are high because the business base is overwhelmingly small. 98 percent of Canadian businesses in 2023 were “small,” with one to 99 employees, while “large” firms — only 0.3 percent of businesses, each with 500 or more employees — employ over a Show less Read more
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