Bank of England will review the risks that AI poses to UK financial stability

LONDON (AP) — The Bank of England says it will make an assessment next year about the risks posed by artificial intelligence and machine learning. In its half-yearly Financial Stability Review, the bank said Wednesday that it’s getting advice about the potential implications stemming from the adoption of AI and machine learning in the financial services sector. Admitting that he is “palpably not” an expert on AI, bank Gov. Andrew Bailey says the new technologies have “tremendous potential” and are not simply “a bag of risks.” There’s a global race to figure out how to regulate AI as concerns have risen about possible dangers from the developing technology.