On August 31st, the leader of the global financial stability watchdog raised an alarm, stating that the looming threat posed by advanced artificial intelligence (AI) models to cybersecurity is heightening the risk of market crashes. He urged more nations to tighten their grip on this technology. In a correspondence addressed to the finance ministers and central bank governors of the G20 nations, Andrew Bailey, Governor of the Bank of England and Chair of the Financial Stability Board (FSB), underscored the necessity for financial service firms and technology conglomerates to brace for scenarios where 'multiple companies or shared technological dependencies encounter severe disruptions concurrently.' This underscores the escalating apprehensions among global financial stability regulators regarding the hazards associated with AI-fueled cyberattacks.

Bailey highlighted that AI-related cyber risks are amplifying pre-existing vulnerabilities within the financial system, encompassing challenges such as energy inflationary pressures, escalating interest rates, heightened investor leverage, and inflated stock valuations. He called upon additional countries to adopt 'suitable measures' to oversee the deployment of novel, cutting-edge AI models and endeavored to convince the United States to reevaluate its comparatively lenient regulatory approach. Despite Trump's recent signing of an executive order, it did not empower the government to obstruct the release of AI models.