AI could cause global economic downturn, Andrew Bailey warns G20
- The governor of the Bank of England has warned G20 finance ministers that artificial intelligence could cause a global economic downturn and pose a significant cyber security risk to financial systems.
- Andrew Bailey said any collapse of growth in the AI sector could lead to a "future market correction" that spreads worldwide.
- In an open letter to finance ministers in the US on Monday, he said companies around the world should prepare for security breaches "involving simultaneous disruption across multiple firms".
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- The governor of the Bank of England has warned G20 finance ministers that artificial intelligence could cause a global economic downturn and pose a significant cyber security risk to financial systems.
- Andrew Bailey said any collapse of growth in the AI sector could lead to a "future market correction" that spreads worldwide.
- In an open letter to finance ministers in the US on Monday, he said companies around the world should prepare for security breaches "involving simultaneous disruption across multiple firms".
Sources: BBC News