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“The industrial revolution scaled and replaced muscle-power. AI will scale and replace human intelligence"
Bank Leumi Chairman Uri Alon asserts that AI is scaling cognitive power just as mechanization once transformed physical labor to drive a massive global economic leap.
“There has not been a revolution like this since the industrial revolution, and it is definitely the thing that will be a very significant change in the world and in the entire economy,” said Bank Leumi Chairman Uri Alon, in reference to the potential economic impact that AI poses in the finance industry.
Alon spoke with CTech’s Elihay Vidal during the Calcalist and Bank Leumi Mind the Tech New York 2026 conference.
“We have to think about what the industrial revolution did to us, which basically took muscle and brought it to very large scales of very significant work and gave a leap forward in the industrial field. AI will do the same. Only instead of muscle, this time we are dealing with the brain and in essence artificial intelligence will replace human intelligence.”
“This does not mean that our brains will not work, but we actually have an opportunity for a very significant leap forward that the AI will actually give and we are already seeing it happen. It's happening in the Israeli economy, it's happening here, we're making a lot of moves to increase the scale of the issue.”
