Bailey called on governments to strengthen protective measures in light of the rapid advancement of artificial intelligence capabilities
Bank of England Governor Andrew Bailey (photo: EPA)
Bank of England Governor Andrew Bailey warned that cutting-edge artificial intelligence technologies could significantly increase cyber risks to the global financial system. He wrote about this in letter to the finance ministers and central bank governors of the G20 countries ahead of their meetings in California, U.S.
As Bailey, the chair of the Financial Stability Board (FSB), stated, advanced AI models “demonstrate increasingly sophisticated autonomy and problem-solving capabilities, as well as the potential to pose threats.”
According to him, these models risk destabilizing the “highly interconnected” global financial system through cyberattacks that “could spread across multiple jurisdictions.”
Bailey emphasized the importance of enhancing resilience and the need for authorities to take measures to ensure the safe and responsible release and implementation of such models on a global scale.
This is a machine translation of the original article in Ukrainian. It may contain errors.