Regulating AI 'not the right place to start' says Bailey

Regulating AI'not the right place to start' says Bailey 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. The bosses of leading AI firms such as Anthropic and OpenAI have called for development of the technology to slow down and for an internationally co-ordinated approach assessing risks and putting safeguards in place.