1 September 2026

Bank of England warns AI could trigger global financial crisis

First reported

The Guardian ran this on 31 August, a day before the next source picked it up.

Andrew Bailey, governor of the Bank of England, told G20 finance ministers that advanced AI models pose cyber risks that could destabilize interconnected global financial systems across borders.
Bailey said a collapse in AI sector growth combined with high stock valuations, increased borrowing, and concentrated money in a few tech companies could amplify a market correction worldwide.