Zhou Xiaochuan: AI-driven productivity gains mainly come from the application layer.

On October 20, at the 2026 Bund Summit jointly hosted by the China Finance 40 Forum and Tsinghua University, when discussing how the speed and scale of AI-driven productivity gains in China will change, Zhou Xiaochuan, former Governor of the People's Bank of China, said that they will mainly come from the AI application layer. Potential technologies may bring productivity gains and may also bring risks.