AI boom could trigger market shocks, Bank of England boss warns
Artificial intelligence (AI) could trigger financial market shocks and the UK needs to be prepared for them, the governor of the Bank of England has warned.
Andrew Bailey said the central bank is watching the huge amounts of money being invested in AI "very carefully" and cautioned that "not everybody always wins".
The money that has been spent on and loaned to AI firms over the last few years in the hope of large returns is causing markets to value some of them as multi-trillion dollar businesses.
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