Andrew Bailey Governor
Bank of England
The issue is not simply that investors are borrowing more, but that leverage is interacting with high valuations
Andrew Bailey Governor Bank of England
A QUESTION OF PROFIT
ANDREW BAILEY, Governor of the Bank of England, is voicing concern over the business world’ s hunger for AI deployment. He says if high valuations for AI firms continue, there could be global repercussions and potentially financial disruption across all industries. Andrew goes on to say there is uncertainty over the ways in which a business can profit from the technology. Industry analysts claim that setup and maintenance costs are simply too high for AI to be profitable and Andrew adds that any collapse of growth in the sector could lead to a“ future market correction” worldwide. Like Andrew, many experts across the AI industry say there needs to be more safeguards around the technology. 1,300 researchers from firms like OpenAI, Anthropic and Google DeepMind share the concern that without control of AI, it could grow beyond our ability to understand or control the resulting systems.