Andrew Bailey warns G20 of danger AI poses to financial system

Andrew Bailey, head of the Financial Stability Board, has cautioned G20 nations about the risks that artificial intelligence could pose to the financial system if not properly regulated. He emphasized the need for countries to implement controls on the deployment of advanced AI models to prevent potential systemic threats. This warning underscores the growing recognition that AI's rapid advancement needs careful oversight to ensure it benefits rather than destabilizes financial markets. Bailey's call highlights a global effort to balance innovation with risk management.