AI could cause global economic downturn, Andrew Bailey warns G20

The governor of the Bank of England warned of AI's “volatility” caused by energy shocks from the US-Iran war.

The Bank of England governor wrote that jurisdictions need to strengthen cybersecurity and enhance preventive measures to correct vulnerabilities that can have a dangerous impact on the global economy.

Artificial intelligence could cause a worldwide economic downturn, the governor of the Bank of England has warned.

David Lynch, Press Association Political Correspondent Artificial intelligence could unleash a global economic downturn, the governor of the Bank of England has warned in a letter to governments from around the world. Andrew Bailey said that a “future market correction” could spread across the world if the AI bubble bu

The governor of the Bank of England and chair of the Financial Stability Board, Andrew Bailey, has warned that countries are unprepared for the consequences of advanced AI and that the wider economy remains vulnerable to a dramatic market correction triggered by a potential slump in AI and tech stocks. Ahead of a G20 m

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.

Head of world’s financial stability watchdog urges countries to take steps to control the release of new frontier models