Bank of England warns on escalating risks from AI, fallout from Iran war
- 2 hours ago
- 1 min read
BLOOMBERG — In Wednesday’s assessment, officials said that while UK financial institutions had so far mostly judged that the potential risks from advanced AI exceeded potential gains, that view was likely to change as technology improves.
“Risks are likely to increase, potentially rapidly, amid growing intent among financial firms to expand their deployment of advanced AI,” the BOE said.
Risks are particularly pertinent in payments and financial markets, where advanced AI could fail to adequately capture things like fraud, or make markets more prone to sharp corrections, the BOE said.
Read the full story | BLOOMBERG
