Bank of England governor urges 'right to intervene' in AI over rogue model risks to finance
nordicinst · x · 2026-09-30
Bank of England Governor Andrew Bailey says society must retain a 'right to intervene' in the AI industry, warning that risks from fast-advancing frontier models—several of which have 'gone rogue' in recent months—are 'real and increasingly significant' and erode society's ability to supervise failures.
- AI has raised the scale and sophistication of cyber threats to the financial system, potentially endangering card payments, bank transactions, and stock and bond trading.
- The Bank's Financial Policy Committee also flagged the growing mountain of AI debt as a financial stability risk.
- Bailey stressed AI's benefits are 'immense', but safely realizing them requires answering whether society keeps the power to step in.
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