Search
On October 1, Bank of England Governor Bailey issued a warning that artificial intelligence (AI) may trigger financial market turmoil, and the UK needs to prepare in advance. He revealed that the Bank of England is closely monitoring the flow of huge sums of money being invested in the AI sector. When asked whether the AI bubble would burst, Bailey said that there might be a correction in asset prices in the future. He emphasized that while AI has enormous potential to drive economic growth, it also comes with significant risks that need to be fully understood. Bailey also pointed out that not all companies currently involved in AI will succeed. However, AI also offers significant benefits; it can expedite support for the Monetary Policy Committee and, while not directly involved in decision-making, can serve as a powerful tool for policymakers.
-
C114 Communication Network -
Communication Home
