AI boom could trigger market shocks, Bank of England boss warns | BBC News

A BBC News report in which Bank of England governor Andrew Bailey warns that artificial intelligence could trigger financial market shocks and that the UK needs to be prepared for them. Bailey says the central bank is watching the large sums being invested in AI "very carefully" and cautions that "not everybody always wins". The report notes that money spent on and lent to AI firms over the last few years, in the hope of large returns, is leading markets to value some of these companies as businesses worth multiple trillions of dollars.

• Bank of England governor Andrew Bailey warns AI could trigger financial market shocks
• The central bank is monitoring large AI investments "very carefully"
• Some AI firms are valued by markets as multi-trillion dollar businesses
• Source: BBC News

Artificial intelligence (AI) could trigger financial market shocks and the UK needs to be prepared for them, the governor of the Bank of England has warned. Andrew Bailey said the central bank is watching the huge amounts of money being invested in AI "very carefully" and cautioned that "not everybody always wins". The money that has been spent on and loaned to AI firms over the last few years in the hope of large returns is causing markets to value some of them as multi-trillion dollar businesses. Subscribe to our channel here: https://bbc.in/bbcnews For the latest news download the BBC News app or visit BBC.com/news #AI #BBCNews