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

Andrew Bailey, the governor of the Bank of England, told the BBC on Thursday that the Bank is watching the money flowing into AI 'very carefully,' according to an article published by The Next Web. Bailey said AI has 'great potential to strengthen growth.' He also said the technology brings 'substantial risks.' The article presents the remarks as the governor's assessment of the AI boom, delivered in an interview with the BBC.

Bailey said everybody is 'currently priced to be a winner,' and that historically 'not everybody is a winner.' He said the Bank expects 'some shocks' to markets. He said regulation is 'not, in my view, the right place to start.' The article does not report any specific regulatory measure, timeframe, or instrument that Bailey proposed in place of regulation as a starting point, nor does it state the size or timing of the shocks he expects.

The comments constitute the Bank of England's stated position on the capital flowing into artificial intelligence, as reported by The Next Web. Bailey's framing combines an assessment of AI's potential contribution to growth, an expectation of disruption in markets that have priced participants as winners, and a view that regulation is not the appropriate starting point. The article attributes the remarks to an interview given to the BBC on Thursday and reports the governor's language directly, including the phrases 'very carefully,' 'substantial risks,' 'some shocks,' and 'not, in my view, the right place to start.' It does not describe any action the Bank intends to take as a result.