Bank of England Governor Andrew Bailey issued a stark warning: no country, including the United States, can single-handedly cope with the growing threats posed by artificial intelligence. In his view, the only effective path is mandatory joint testing of all advanced AI models before their widespread deployment and deep global consolidation of regulators.
Bailey emphasized that the high interconnectedness of modern financial and technological systems makes cybersecurity vulnerable anywhere in the world. If one major AI model is compromised, the consequences will instantly affect all countries, from London to Tokyo. He compared the situation to a "domino effect" in the global economy, where an error in an algorithm could trigger a chain reaction of failures.
The regulator is particularly concerned about the use of AI in the cryptocurrency sphere: from automated trading bots to decentralized finance protocols. "We are already seeing attackers using generative neural networks to create a new generation of phishing attacks that bypass standard security systems," Bailey noted.
The key takeaway from his statement: national approaches to AI regulation are outdated. It is necessary to create a single international body that will conduct stress tests of all significant models before launch. Only then can we ensure that artificial intelligence remains a tool for development, rather than becoming a source of global crises.
My analysis: Bailey's call is not just rhetoric. He directly points out that the current "every man for himself" model in AI regulation is leading to disaster. This is especially relevant for the crypto industry: if major exchanges and DeFi protocols begin implementing AI solutions without unified security standards, we risk a wave of hacks compared to which the collapse of FTX would seem like a minor incident. Consolidation is not a matter of convenience, but a matter of survival for the entire digital economy.