Bank of England Governor Andrew Bailey warns that artificial intelligence could contribute to a global economic downturn if expectations around AI overheat. He says the risk is linked to a potential “future market correction,” which could spread beyond individual countries and sectors.
The warning comes as UK policymakers prepare additional support for AI-related businesses. The Independent reports that Chancellor John Healey has announced a £100 million fund to back British AI start-ups. Other outlets repeat Bailey’s broader warning about the potential for wider economic fallout, but do not add further detail on the size or structure of any UK programme.
