AI TRENDS | FSB Chair Andrew Bailey Warns G20 on AI Threat to Financial Stability

According to Jin10, Bank of England Governor and Financial Stability Board Chair Andrew Bailey warned G20 finance ministers and central bank governors that frontier AI models are intensifying cyber risks and raising the risk of market crashes. In a letter, he said financial services firms and technology groups must prepare for scenarios in which multiple companies or shared technology dependencies are hit by more severe disruption, and he urged more countries to take appropriate measures to control the release of new frontier AI models.