The Bank of England’s governor has warned that unchecked artificial intelligence could pose serious threats to financial stability, urging regulators to keep the power to intervene in the sector. Concerns are rising over the potential for advanced AI models to behave unpredictably, complicating efforts to monitor and control risks as technology evolves rapidly. Authorities are now weighing how to balance innovation with safeguards to prevent systemic disruptions.
Andrew Bailey’s comments come as fears grow that rogue models could take financial system hostageBusiness live – latest updatesThe governor of the Bank of England has said authorities must retain the “right to intervene” in the AI industry amid growing fears that rogue models could take the financial system hostage.Andrew Bailey said the risks posed by the rapid advancement of frontier AI models – a number of which have gone rogue in recent months – were “real and increasingly significant” and reduced the ability of society to supervise and intervene when things went wrong. Continue reading...
