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Evening Standard

Business

David Lynch

AI could cause global economic downturn, Bank of England governor warns

Andrew Bailey United States G20 John Healey Bank of England United Kingdom

Governor of the Bank of England Andrew Bailey has warned of the consequences if the AI bubble bursts (Henry Nicholls/PA) - (PA Wire)

Artificial intelligence could unleash a global economic downturn, the governor of the Bank of England has warned in a letter to governments from around the world.

Andrew Bailey said that a “future market correction” could spread across the world if the AI bubble bursts, in a letter to G20 finance ministers who are currently meeting in North Carolina, USA.

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