New AI models pose growing threat to the global economy, Bailey warns

Published on

31/08/2026 - 17:30 GMT+2

Emerging AI models pose a growing threat to financial stability and economic growth, Financial Stability Board (FSB) Chair and Governor of the Bank of England Andrew Bailey has warned.

The letter was sent on 28 August to G20 finance ministers and central bankers ahead of their meeting on Monday and Tuesday in Asheville, North Carolina, US.

Bailey wrote that the FSB will remain "focused on identifying emerging vulnerabilities, strengthening resilience and ensuring that innovation is consistent with financial stability," as many jurisdictions do not have sufficient protocols in place.