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The Independent UK
The Independent UK
National
Holly Evans

AI could be a ‘very powerful weapon’ in wrong hands, warns Bank of England chief

Bank of England Andrew Bailey OpenAI
  • Bank of England governor Andrew Bailey has warned that the UK must prepare for financial market shocks resulting from artificial intelligence.
  • Bailey cautioned that not every company will succeed despite hundreds of billions currently being invested in the AI sector, drawing parallels with past tech shifts.
  • The governor highlighted that AI could become a potentially very powerful weapon in the wrong hands after revealing he was recently the subject of deepfake images.
  • Tech giants and AI firms such as Nvidia , Meta , Microsoft and OpenAI are attracting up to multi-trillion-dollar valuations amidst huge market expectations.
  • OpenAI chief executive Sam Altman recently delayed the launch of the company's latest model due to safety concerns identified during internal testing.

IN FULL

Bank of England boss issues stark warning on AI threat to UK economy

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