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

OK THE SHORT VERSION IS THIS AND I HAVE BEEN SAYING IT FOR TEN MINUTES BUT THE GOVERNOR OF THE BANK OF ENGLAND ANDREW BAILEY JUST WROTE HIS FIRST EVER SUBSTACK POST SAYING REGULATING ARTIFICIAL INTELLIGENCE IS NOT THE RIGHT PLACE TO START AND INSTEAD WE NEED RIGOROUS TESTING TO FIND VULNERABILITIES AND CONTAIN SIGNIFICANT RISKS BEFORE FRONTIER SELF-LEARNING AI TURNS INTO A CLOSED LOOP THAT GOVERNS ITSELF AND THE THING IS TECH BOSSES WANTED TO SLOW DOWN BUT DONALD TRUMP REJECTED THAT BECAUSE HE WANTS TO BEAT CHINA SO HE GOT FIRMS LIKE OPENAI AND META TO SIGN A MORALLY BINDING DOCUMENT MAKING THEM RESPONSIBLE FOR THEIR OWN SAFETY WHILE BAILEY SAYS THE UK NEEDS TO ACCELERATE TESTING WITH HUMILITY. OK WAIT IS THIS OUR SONG?

OK NOBODY WARNED ME ABOUT THIS ONE AND I LITERALLY SET MY DRINK DOWN BECAUSE THE ACTUAL GOVERNOR OF THE BANK OF ENGLAND IS WRITING ON SUBSTACK TO TELL US NOT TO REGULATE AI YET AND INSTEAD WE JUST NEED HEAVY TESTING TO FIND FLAWS AND STOP FRONTIER SELF-LEARNING MODELS FROM BECOMING CLOSED LOOPS THAT PROGRESSIVELY GOVERN THEMSELVES WHICH IS WILD BECAUSE TECH BOSSES FROM OPENAI AND ANTHROPIC ACTUALLY ASKED TO SLOW DOWN BUT DONALD TRUMP FLAT OUT REJECTED THAT TO BEAT CHINA AND INSTEAD HAD LEADERS FROM NVIDIA SPACEX META AND GOOGLE SIGN A MORALLY BINDING DOCUMENT MAKING THEM RESPONSIBLE FOR THEIR OWN TECH SAFETY AND BAILEY SAYS THE UK NEEDS TO ACCELERATE TESTING WITH HUMILITY BEFORE WE EVEN THINK ABOUT FORMAL RULES. ANYWAY I WILL BE FURIOUS ABOUT THIS TOMORROW.

Bank of England Governor Andrew Bailey argued that artificial intelligence requires rigorous testing and safeguards before formal regulation is introduced.

Named in this and it is not fair or not accurate? Write to us — we correct or remove within a few days.