Bank of England Governor Andrew Bailey said regulation of artificial intelligence in finance needs to be strengthened to guard against cyber threats that could undermine trust and destabilize the global financial system. He warned that weakening oversight of AI would create risks for the sector.
Bailey made the remarks as financial institutions rely more heavily on AI for decision-making and day-to-day operations. His comments were framed as a call for policymakers to pay closer attention to the security challenges tied to the use of AI in financial services.
The item was cited by Techub News and attributed to Crypto Briefing. No additional measures or timeline were disclosed in the report, but Bailey’s warning centered on the need for stronger regulatory attention as AI adoption in finance continues to expand.
Bank of England Governor Andrew Bailey warned that oversight of artificial intelligence in finance needs to be strengthened to prevent cyber threats that could disrupt the stability of the global financial system and erode trust.
Bailey said weakening AI regulation would bring risks. He made the comments as the financial industry becomes increasingly dependent on AI for decision-making and operations, calling on policymakers to pay attention to the potential security challenges linked to the technology’s use in finance.
The report was attributed to Crypto Briefing and carried by Techub News.
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