Bailey calls for greater AI testing as risks to economy rise

Regulating AI 'not the right place to start' says Bank of England governor

AI needs "rigorous" testing and safeguards to contain risk, Andrew Bailey says.

Bailey calls for greater AI testing as risks to economy rise

Andrew Bailey has called on governments to ramp up testing on frontier AI models before they are launched to the public, warning that advanced artificial intelligence posed sophisticated threats to the banking, markets and payments systems. In the first of a series of letters on the fledgling technology, the governor of the Bank of England [...]

Bank of England governor Andrew Bailey warns against weakening AI regulation

Bank of England governor Andrew Bailey warns that weakening AI regulation in finance is dangerous as frontier models pose growing cyber threats.

Regulating AI 'not the right place to start' says Bailey

Published The Governor of the Bank of England has said regulating artificial intelligence (AI) "is not the right place to start" but instead called first for "rigorous" testing to find vulnerabilities and safeguards to contain risk. Writing his first-ever article for Substack, Andrew Bailey said…

Bank of England Committee Warns AI Growth Failure Could Threaten Government Bonds

The Financial Policy Committee urged financial institutions to prepare for advanced-AI risks, communicate with U.K. authorities and conduct more model testing before regulation is implemented.