BoE Governor Warns G20 of AI Risk
The Governor of the Bank of England, Andrew Bailey, issued strong warnings at the G20 summit that the rapid expansion of artificial intelligence technologies could lead to a global economic recession and cybersecurity threats that threaten the stability of the international financial system. He added that the tech bubble could cause a sharp market correction, with increased risks of financial system breaches and excessive investment in AI companies. These warnings come amid the UK government’s efforts to support startups in the field and develop policies to ensure the safe and responsible use of the technology.
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