US EditionBank of England Probes AI Threats to UK Financial Stability
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Bank of England Probes AI Threats to UK Financial Stability
The Bank of England is conducting tests to better understand the risks and opportunities artificial intelligence (AI) presents for the financial sector, Sarah Breeden, deputy governor for financial stability at the Bank of England, said in a letter to the U.K. Parliament’s Treasury Committee. The letter was written in response to a Treasury Committee report that recommended that the Bank undertake AI-specific stress-testing, and it was…
The Bank of England has reported that it will add the dangers that artificial intelligence can pose in its stress tests of the financial system, after the House of Commons Treasury Committee of the UK Parliament will call on the UK financial authority to further monitor and analyse the implications of AI in the economy.
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