The Bank for International Settlements (BIS) says global risks are increasing as rising public debt, financial vulnerabilities and uncertainty around the AI boom interact with other economic fragilities. In its assessment, the BIS links heightened risk conditions to greater debt burdens and vulnerabilities within financial systems, which can amplify stress if growth slows or shocks occur. The BIS also notes that expectations tied to the rapid growth of artificial intelligence introduce uncertainty, though it does not suggest a single direct cause of deterioration. While the report points to mounting risks, it also characterizes recent conditions as comparatively resilient, citing continued strength in growth. Taken together, the BIS message is that even with resilient activity, the underlying balance of risks is worsening due to debt and financial-sector exposures, leaving the global economy more sensitive to future developments. The bank’s assessment frames the current environment as one where multiple factors raise the likelihood of negative outcomes, particularly if existing fragilities are tested by changes in financial conditions or economic performance.