Bank of England governor: regulating AI 'not the right place to start', test rigorously first
koltregaskes · x · 2026-09-30
Bank of England Governor Andrew Bailey, in his first-ever Substack article, laid out his stance on AI governance:
- Core claim: Regulating AI "is not the right place to start"; instead, call for "rigorous" testing to find vulnerabilities and build safeguards to contain risk.
- Against halting development: AI risks are "real and increasingly significant," but development should not be paused or prohibited — "on the contrary, the benefits are immense." What's needed is a system for intervention and boundaries.
- Context: Anthropic and OpenAI leaders have urged slower development and international coordination; OpenAI recently delayed a model release over safety concerns; Trump signed a "morally binding" document with AI firms after a summit. Bailey adds the pace of progress "must accelerate," but "with a degree of humility."
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