Central Bankers Warn AI Cyber Threats Endanger Global Financial Stability

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

Advanced AI threatens global financial stability, says Bank of England boss

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

Bank of England chief warns new AI models threaten global financial stability

Bank of England Governor Andrew Bailey has warned that frontier AI could materially increase cyber risks to the global financial system.

AI-driven cyber risk is top concern for global financial stability, watchdog says

AI-driven cyber risk seen as top concern for global financial system

The impact of AI on cyber risk is the most immediate concern for the global financial system, a global watchdog said Monday, cautioning that the technology could change the speed,...