Bank of England Governor Warns AI Could Trigger Financial Market Shocks

Bank of England Governor Andrew Bailey warned that artificial intelligence could potentially cause shocks in financial markets, urging the U.K. to prepare. Bailey noted that the central bank is monitoring massive investments in AI closely and acknowledged the possibility of a future asset price correction. While he highlighted AI's potential to boost economic growth and assist the Monetary Policy Committee, he cautioned that not every company currently betting on AI will emerge as a winner.