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AI 'Bubble' Bursting Could Cause a Global Downturn, BoE Chief Warns
Bailey said leverage, high valuations and cross-investment could amplify a future correction as the UK announced a £100 million fund for AI start-ups.
Summary by dailymail.com
9 Articles
9 Articles
Artificial intelligence (AI) could cause a global economic recession, Bank of England Governor Andrew Bailey has warned in a letter to governments around the world.
·Vilnius, Lithuania
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Evening Standard+4 Reposted by 4 other sources
AI could cause global economic downturn, Bank of England governor warns
Andrew Bailey said that a ‘future market correction’ could spread across the world if the AI bubble bursts, in a letter to G20 finance ministers.
·London, United Kingdom
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In a letter to the finance ministers of the Big Twenty (G20) countries currently meeting in the US state of North Carolina, A. Bailey warned that the bursting of the AI bubble could cause a “future market correction” to spread across the globe.
·Vilnius, Lithuania
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Total News Sources9
Leaning Left4Leaning Right1Center3Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 38%
12%
Factuality
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