We need ‘right to intervene’ in AI amid growing threat, says Bank of England boss

Andrew Bailey’s comments come as fears grow that rogue models could take financial system hostage

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The governor of the Bank of England has said authorities must retain the “right to intervene” in the AI industry amid growing fears that rogue models could take the financial system hostage.

Andrew Bailey said the risks posed by the rapid advancement of frontier AI models – a number of which have gone rogue in recent months – were “real and increasingly significant” and reduced the ability of society to supervise and intervene when things went wrong.