The Financial Stability Board warned G20 finance ministers about risks tied to artificial intelligence. Chair Andrew Bailey named AI-related investments among stretched asset valuations. He pointed to rising cross-investment between AI companies and large cloud providers. Combined with leverage and market concentration, this could amplify a future market correction. Bailey also flagged frontier AI models with growing autonomy and attack capability. He said the most immediate concern is their effect on the speed and cost of cyber attacks. Firms should expect more vulnerabilities and faster patching cycles. He urged stronger recovery plans, including restoring critical systems from bare metal. The FSB is examining safe use of frontier models for cyber defence in finance. Bailey said many countries lack protocols for releasing and deploying advanced models.