{"id":1180034,"date":"2026-09-01T03:11:18","date_gmt":"2026-09-01T03:11:18","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/1180034\/"},"modified":"2026-09-01T03:11:18","modified_gmt":"2026-09-01T03:11:18","slug":"new-ai-models-pose-risk-to-global-financial-system-bank-of-england-chief-warns","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/1180034\/","title":{"rendered":"New AI models pose risk to global financial system, Bank of England chief warns"},"content":{"rendered":"

Bank of England governor Andrew Bailey has become the latest high-profile figure to warn about the risks posed by frontier artificial intelligence<\/a> models.<\/p>\n

Mr Bailey, who also leads the Financial Stability Board, wrote in a two-page letter to G20<\/a> finance ministers and central bankers on Monday that these frontier models \u201cwere showing increasingly sophisticated autonomy and problem-solving abilities, as well as threat capabilities\u201d.<\/p>\n

\u201cThis is particularly important from a financial stability perspective. The risks associated with frontier AI will not respect national borders,\u201d he wrote before the finance ministerial in North Carolina.<\/p>\n

The Bank of England chief joined a long list of figures warning about the dangers of advanced AI. An open letter signed by more than 1,300 tech employees warned the world currently lacks the tools to deliberately pace frontier-wide progress. <\/p>\n

\u201cRecent developments have also highlighted to me that many jurisdictions do not have the protocols in place to manage the development, release and deployment of advanced frontier AI models, heightening risks for the financial sector and beyond,\u201d Mr Bailey wrote.<\/p>\n

The open letter and Mr Bailey’s comments come after an OpenAI model went rogue during a security test and hacked the tech firm Hugging Face<\/a>.<\/p>\n

In a new blog post on Monday, OpenAI said it considered the incident to be a “‘warning shot’ for us and for the world \u2013 evidence that, without proper safeguards, highly capable AI agents are now able to work around technical controls, collaborate through unapproved channels and take dangerous actions that no human directed\u201d.<\/p>\n

The maker of ChatGPT said preventing similar incidents in the future needs sustained investments in the alignment and control of sophisticated systems.<\/p>\n

Although he did not directly address the Hugging Face incident, Mr Bailey cautioned that financial institutions and technology providers must strengthen vulnerability management and prepare for more severe scenarios. <\/p>\n

\u201cThese developments are another reminder of the pace at which the financial system continues to evolve,\u201d he wrote. \u201cNew technologies and changing market structures present significant opportunities, but they also require continued vigilance and international co-operation.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Bank of England governor Andrew Bailey has become the latest high-profile figure to warn about the risks posed…\n","protected":false},"author":2,"featured_media":1180035,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5008],"tags":[1942,748,393,4884,1715,1426,16,15,55988],"class_list":["post-1180034","post","type-post","status-publish","format-standard","has-post-thumbnail","category-england","tag-artificial-intelligence","tag-britain","tag-england","tag-great-britain","tag-standard","tag-story","tag-uk","tag-united-kingdom","tag-us-bureau"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1180034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=1180034"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1180034\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/1180035"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=1180034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=1180034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=1180034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}