Andrew Bailey, head of the Financial Stability Board (FSB), has raised concerns with G20 finance ministers and central bank officials regarding the increasing dangers posed by advanced AI technologies, especially in terms of cybersecurity.
He stressed the importance of securely deploying these technologies and called for financial institutions to improve their recovery strategies after incidents. Additionally, Bailey cautioned that heightened leverage, inflated asset prices, and an overly optimistic perception of AI capabilities could worsen potential market downturns.
