How AI Could Cause a Global Economic Downturn, Bank of England Chief Warns The global financial system faces a growing threat that has nothing to do with traditional market fluctuations or economic downturns: the potential risks posed by artificial intelligence (AI) on the global economy.
Andrew Bailey, governor of the Bank of England, recently warned G20 finance ministers about the possibility of an AI driven economic downturn.
Bailey's concern is not limited to AI's economic impact; it also has significant implications for financial security.