Bank of England Chief Warns G20 That Advanced AI Threatens Financial Stability
Bank of England Governor Andrew Bailey cautioned G20 leaders that rapidly advancing artificial intelligence and associated cyber risks could destabilize the global financial system. Regulators are urging coordinated oversight to mitigate potential systemic shocks from AI adoption.
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Andrew Bailey warns G20 of danger AI poses to financial system
Head of world’s financial stability watchdog urges countries to take steps to control the release of new frontier models
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Andrew Bailey warns G20 members about risk of cyber-disruption spreading ‘across jurisdictions’ The Bank of England’s governor, Andrew Bailey, has joined the throng of figures warning about the global risks posed by the most advanced artificial intelligence technology. In a two-page letter sent to international finance ministers and central bank governors as part of his role as chair of the international Financial Stability Board (FSB), Bailey said “frontier” AI models were “showing increasin...
By Simon Goodley
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