Regulating AI 'not the right place to start' says Bailey
Bank of England Governor Andrew Bailey argues that rigorous safety testing is a better starting point for AI than immediate regulation. While he acknowledges the risks, he emphasizes the immense benefits of the technology and warns against halting development.
Why it matters
The debate highlights the tension between fostering technological innovation and ensuring public safety in the global AI race.
Image source, Carl Court/Getty Images Published 10 minutes ago The Governor of the Bank of England has said regulating artificial intelligence (AI) "is not the right place to start" but instead called first for "rigorous" testing to find vulnerabilities and safeguards to contain risk.
Writing his first-ever article for Substack, Andrew Bailey said the risks around AI were "real and increasingly significant".
Bailey said the development of AI should not be halted or prohibited - "on the contrary, the benefits are immense" - but added there must be a system for intervention and to establish boundaries in which AI operates.
In recent weeks, the debate about the potential risks surrounding the rapid development of AI and what it means for humanity has intensified.
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