AI could cause global economic downturn, Bank of England governor tells G20

Andrew Bailey warns group about risk of advanced ‘frontier models’ destabilising the ‘highly interconnected’ financial system 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…