Andrew Bailey, Bank of England governor and chair of the international Financial Stability Board, wrote to G20 finance ministers and central bank governors warning that the most advanced AI models could destabilise the global financial system. He pointed to cyber-attack risk spreading across borders and to a small number of heavily used technology suppliers. He also said many countries lack protocols governing how such models are developed and released.
What changed
Bailey had previously urged international cooperation on AI threats in July but not framed it as a financial stability warning to the G20.
- two-page letter to G20 ministers
- 1,367 researchers signed AI letter
Sources