Artificial intelligence is boosting productivity in the eurozone but it is not yet causing a wave of layoffs due to greater automation of labour, European Central Bank President Christine Lagarde said on Thursday.

“What we are seeing for the moment is that it’s increasing productivity,” Lagarde told a committee of the European Parliament.

“But we are not yet seeing consequences in terms of labour market and waves of redundancies that are feared, and that you know we will be extremely attentive going forward,” she added.