Bailey Warns G20 of AI Threat to Global Economic Stability

Andrew Bailey, Chair of the Financial Stability Board (FSB) and Governor of the Bank of England, has sounded the alarm on emerging AI models posing a growing threat to global economic stability. In a letter sent to G20 finance ministers and central bankers ahead of their meeting in Asheville, North Carolina, Bailey warned that these systems could identify and exploit digital vulnerabilities with potentially catastrophic consequences for the economy.

The warning comes amid a period of profound global instability and uncertainty, heightening market volatility. Conflict in the Middle East is driving up energy prices and fuelling inflation, while large-scale AI investments in the United States are adding further inflationary pressure.

Bailey specifically mentioned Mythos, a model developed by Anthropic that has advanced autonomous coding and cybersecurity capabilities. Unveiled in April 2026, the model is not available for public use due to its significant potential risks.