Andrew Bailey warns G20 finance ministers about inflated AI valuations, growing leverage across markets, and cyber risks from frontier AI models. Cross-investments between AI companies and hyperscalers could trigger a chain reaction if one major player stumbles. Many countries still lack rules for advanced AI.

Andrew Bailey warns G20 members about risk of cyber-disruption spreading ‘across jurisdictions’

LONDON, Aug 31 : Financial Stability Board Chair Andrew Bailey said on Monday that the impact of AI on cyber risk was the most immediate concern for the global financial system,…