{"id":632098,"date":"2026-09-30T12:42:12","date_gmt":"2026-09-30T12:42:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/632098\/"},"modified":"2026-09-30T12:42:12","modified_gmt":"2026-09-30T12:42:12","slug":"we-need-right-to-intervene-in-ai-amid-growing-threat-says-bank-of-england-boss-ai-artificial-intelligence","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/632098\/","title":{"rendered":"We need \u2018right to intervene\u2019 in AI amid growing threat, says Bank of England boss | AI (artificial intelligence)"},"content":{"rendered":"

The governor of the Bank of England<\/a> has said authorities must retain the \u201cright to intervene\u201d in the AI industry amid growing fears that rogue models could take the financial system hostage.<\/p>\n

Andrew Bailey said the risks posed by the rapid advancement of frontier AI models \u2013 a number of which have gone rogue in recent months <\/a>\u2013 were \u201creal and increasingly significant\u201d and reduced the ability of society to supervise and intervene when things went wrong.<\/p>\n

That had implications for financial stability, with the new technology having increased the \u201cscale and sophistication of cyber threats to the financial system\u201d. That could threaten daily card payment, bank transactions, and stock and bond trading across financial markets, he said.<\/p>\n

Andrew Bailey said the risks posed by the rapid advancement of frontier AI models were \u2018real and increasingly significant\u2019. Photograph: Sarah Lee\/The Guardian<\/p>\n

The comments came as the Bank\u2019s financial policy committee (FPC) warned that the growing mountain of AI debt <\/a>was increasing financial stability risks.<\/p>\n

The potential benefits of AI \u201care immense\u201d, Bailey said but he added that authorities needed to be ready to step in.<\/p>\n

In an inaugural opinion piece penned for the Bank of England\u2019s Insight series, he said: \u201cIf we are to realise those benefits safely, we must answer one critical question. Should society retain the ability to intervene, to establish the boundaries within which these systems operate and to revise those boundaries as the technology evolves? To my mind the answer is unequivocally yes.\u201d<\/p>\n

However, the governor stopped short of calling for a regulatory clampdown. \u201cRegulation is not, in my view, the right place to start. In the excitement surrounding AI development, there is a risk that we move too quickly to debates about regulatory architecture before establishing where the failure exists in the first place.\u201d<\/p>\n

Instead, he said a \u201csensible starting point\u201d would be rigorous testing of new models, to understanding the behaviour of increasingly complex systems, in order to figure out \u201ccredible points\u201d where authorities could intervene.<\/p>\n

Warning on the ballooning AI debt pile, the FPC said large players in the sector have taken on $450bn (\u00a3339bn) worth of debt between January and September this year, already overtaking the $333bn worth of gilts due to be issued by the UK government for the whole of 2026.<\/p>\n

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That has tied investors \u2013 including hedge funds, asset managers and private credit firms \u2013 to AI companies\u2019 fortunes at a time when those tech businesses have yet to turn a profit.<\/p>\n

\u201cThe rapid increase in artificial intelligence-related debt issuance broadens the exposure of capital markets to development in AI,\u201d minutes of the recent FPC meeting on 25 September said.<\/p>\n

\u201cThe committee underscores the importance of timely and careful management of these intensifying, interconnected risks.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The governor of the Bank of England has said authorities must retain the \u201cright to intervene\u201d in the…\n","protected":false},"author":2,"featured_media":632099,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[345,343,344,85,46,125],"class_list":["post-632098","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-il","tag-israel","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/632098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=632098"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/632098\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/632099"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=632098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=632098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=632098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}