What They Said: Pierre-Olivier Gourinchas of IMF on AI

What They Said: Pierre-Olivier Gourinchas of IMF on AI
Let’s take a look at what Pierre-Olivier Gourinchas, Economic Counsellor and Director of Research at the IMF (International Monetary Fund), said about Artificial Intelligence (AI). As an international organisation that primarily focuses on global financial stability and economic cooperation, any comments from its core team can have a significant impact on market sentiment.

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Also Read: What They Said: Gopal Vittal of Bharti Airtel on AI

This article highlights the quotes and insights of Professor Gourinchas, who served as editor-in-chief of the IMF Economic Review from its inception in 2009 until 2016. It captures his evolving perspectives on AI’s impact on the global economy, countries, financial assistance, and capacity development and technical assistance.

What They Said: Timeline

October 2025:

The US artificial intelligence investment boom may be followed by a dot-com-style bust, but it is less likely to be a systemic event that would crater the US or global economy, the International Monetary Fund’s chief economist, Pierre-Olivier Gourinchas, said on Tuesday.

There are many similarities between the late 1990s internet stock bubble and the current AI boom, with both eras pushing stock valuations and capital gains wealth to new heights, fueling consumption that added to inflation pressures, Gourinchas told Reuters in an interview reported by David Lawder.

Then, as now, the promise of a new, transformative technology ultimately may not meet market expectations in the near-term and trigger a crash in stock valuations, he reportedly said. However, just as in 1999, investment in the sector is not built on leverage but rather by cash-rich tech companies.