Panetta said central banks must clarify who captures the gains from AI, as the distribution will affect aggregate demand and inflation, and AI will reshape productivity, growth, labor markets, financial markets and payment systems. He noted that if AI creates new jobs and raises expected labor income, aggregate demand may rise before productivity gains and prolong inflation, while automation-driven job losses could bring disinflationary effects earlier, and stressed that credibility is central banks' core asset and they cannot stand aside.