Andrew Bailey, chair of the Financial Stability Board (FSB) and governor of the Bank of England, has warned global regulators that the safe release of advanced artificial intelligence models should be made a priority, citing risks that increasingly autonomous systems could exploit cyber weaknesses and transmit disruptions across the international financial system.
Bailey issued the warning on Monday in a letter to G20 finance ministers and central bank governors meeting in Asheville, North Carolina. The FSB coordinates the work of financial regulators from the world's largest economies.
According to Bailey, the central concern is that the capabilities of frontier AI models are advancing faster than the safeguards designed to manage them.
