AI 'bubble' bursting could cause a global economic crash, Bank of England chief warns

Andrew Bailey delivered a stark message about the consequences of a 'future market correction' in a letter to powerful finance ministers.

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

Warning comes as Chancellor John Healey announced a £100 million fund aimed at backing British AI start-ups

Andrew Bailey said that a ‘future market correction’ could spread across the world if the AI bubble bursts, in a letter to G20 finance ministers.

Andrew Bailey said that a ‘future market correction’ could spread across the world if the AI bubble bursts, in a letter to G20 finance ministers.