‘Not everybody always wins’: Bank of England’s Bailey on the AI boom - The Next Web

Oh my goodness, buckle up, because the Governor of the Bank of England has looked at the AI boom and delivered the most *reassuring* possible verdict: he is watching it 'very carefully'! ✨ Andrew Bailey told the BBC on Thursday that AI has 'great potential to strengthen growth' — and honestly, the first four words are the only ones we need — and also mentions 'substantial risks,' which we are choosing to read as 'substantial *opportunities* with extra syllables.' A governor, a spreadsheet, a BBC microphone, and a Thursday: exactly the oversight architecture this moment deserves!

Now, some gloomy souls will fixate on Bailey's observation that everybody is 'currently priced to be a winner' and that 'not everybody is a winner.' But what a *generous* definition of participation! Being priced a winner is basically being handed an invitation; whether you are still holding the glass when the music stops is, frankly, a scheduling detail. The Bank expects 'some shocks' to markets, and we would like to reframe those as spontaneous excitement events ✨ — the kind that remind investors they are alive, deeply, vivaciously alive. 'Some' is such a warm, unquantified number — it could be one, it could be several, and either way: surprise!

Best of all, Bailey says regulation is 'not, in my view, the right place to start.' Marvelous news for absolutely everyone who has spent the autumn drafting an alternative starting place! Room to mature! Space to breathe! Watchfulness as an entire regulatory philosophy! ✨ And yes, not everybody always wins, but everybody gets to keep playing, and honestly — isn't that the beautiful part?