- Bank of England governor Andrew Bailey has warned that the UK must prepare for financial market shocks resulting from artificial intelligence.
- Bailey cautioned that not every company will succeed despite hundreds of billions currently being invested in the AI sector, drawing parallels with past tech shifts.
- The governor highlighted that AI could become a potentially very powerful weapon in the wrong hands after revealing he was recently the subject of deepfake images.
- Tech giants and AI firms such as Nvidia, Meta, Microsoft and OpenAI are attracting up to multi-trillion-dollar valuations amidst huge market expectations.
- OpenAI chief executive Sam Altman recently delayed the launch of the company's latest model due to safety concerns identified during internal testing.
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