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Bank of England governor Andrew Bailey warns G20 finance ministers about systemic financial risks from AI

Policy change Provisional 72% confidence first seen

Bank of England governor Andrew Bailey sent a warning to G20 finance ministers and central bank governors that advanced AI could increase cyber and systemic risks to financial infrastructure and contribute to a global economic downturn. He urged policymakers and firms to prepare for simultaneous disruptions across multiple firms or technology suppliers, address market fragilities, and improve cyber resilience, including faster patching and restoration workflows.

Andrew Bailey Austan Goolsbee Bank of England Federal Reserve Bank of Chicago Artificial Intelligence G20 G20 GPT-6 SiliconANGLE

Source coverage

AI could cause global economic downturn, Andrew Bailey warns G20 BBC News independent Bank of England governor warns of AI-related financial system risks SiliconANGLE independent Exclusive: Goolsbee says AI is 'not far' from overheating the economy Fortune independent

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