Bank of England Chief Warns New AI Models Threaten Global Financial Stability

Bank of England Governor Andrew Bailey is warning that advanced "frontier" AI models could materially increase cyber risk across the global financial system by making attacks faster, cheaper, and more scalable. In a letter to G20 finance officials, he said financial firms need stronger defenses and contingency plans for simultaneous disruptions. CNBC reports: Writing in his capacity as chair of the Financial Stability Board, an international body that coordinates policy and makes recommendations