AI Poses Biggest Threat To Financial System And Wider Global Economy: Fed Survey

Source: International Business Times

Respondents to the newest Fed survey are significantly more concerned about the financial risks posed by AI than they were earlier in the year, reflecting a broader skepticism towards the technology. GETTY IMAGES Respondents to a new Federal Reserve survey on risks to financial stability have cited AI as the biggest threat, ahead of risk asset correction and cyberattacks. As part of the Fed's new financial stability report released on Friday, employees of the New York Federal Reserve Bank reached out to "professionals at broker-dealers, banks, investment funds, and advisory firms" to ask them about their views on the "salient" risks to U.