Bank of England’s Bailey warns frontier AI raises cyberattack risks

The central bank governor wants AI models tested before and after release as regulators flag systemic threats to the financial sector Andrew Bailey has a new item on his worry list, and it is not inflation. The Governor of the Bank of England says frontier AI models increase the risk of cyberattacks. He wants those systems tested more rigorously, both before and after they are released. Bailey also chairs the Financial Stability Board (FSB), so this is not one central banker musing aloud. When the person in charge of coordinating global financial stability sounds an alarm, regulators in other countries tend to take notes. What Bailey is actually saying The core argument is about speed, scale, and cost. Bailey claims frontier AI significantly increases how fast cyberattacks can move, how many targets they can reach, and how cheap they are to run. A joint statement from the Bank of England, the Financial Conduct Authority (FCA), and HM Treasury put the concern in plain terms. These AI systems can now handle tasks that once required skilled human operators. That matters because skill used to be a bottleneck. Sophisticated attacks needed sophisticated people, and those people are scarc...