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The Independent UK
The Independent UK
National
David Lynch

REVEALED: Andrew bailey warns ai could trigger global market downturn | Rare Historical Photos

Andrew Bailey John Healey Bank of England
  • Bank of England Governor Andrew Bailey has warned G20 finance ministers that a collapse in the artificial intelligence bubble could trigger a major global financial downturn.
  • Writing in his capacity as chairman of the Financial Stability Board, Mr Bailey highlighted risks from high valuations, market concentration, and energy shocks linked to the US-Iran war.
  • The warning coincides with Chancellor John Healey announcing a £100 million fund to support British AI start-ups and grow domestic AI capacity.
  • The government scheme encourages firms to compete for funding to tackle key challenges, including NHS waiting lists, cybersecurity, and defence.
  • Mr Healey said the initiative aims to ensure Britain leads in AI innovation, driving job creation, better public services, and nationwide economic growth.

IN FULL

Bank of England governor: AI risks forcing global economic downturn

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