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The Guardian - UK
The Guardian - UK
Business
Simon Goodley

AI could cause global economic downturn, Bank of England governor tells G20

An analyst views multiple monitors displaying stock market charts on the NYSE exchange floor
The Bank governor recently told City bosses: ‘No country can seal itself off from the cross-border nature of systems that are prevalent today.’ Photograph: Richard Drew/AP

The Bank of England’s governor, Andrew Bailey, has joined the throng of figures warning about the global risks posed by the most advanced artificial intelligence technology.

In a two-page letter sent to international finance ministers and central bank governors as part of his role as chair of the international Financial Stability Board (FSB), Bailey said “frontier” AI models were “showing increasingly sophisticated autonomy and problem-solving abilities, as well as threat capabilities”.

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