Bank of England to scenario plan an AI shock amid fearsBy Philip Aldrick / BloombergThe Bank of England (BOE) is planning to war-game the potential economic and financial impact of a full-blown artificial intelligence (AI) shock amid fears that the technology would cost vast numbers of jobs and cut through a swathe of businesses. University College London economics professor Wendy Carlin also urged the BOE to start war-gaming AI-led economic risks. The bank currently runs banking stress tests once every two years to see how resilient the system is against extreme risks. At the same event, BOE chief economist Huw Pill said the bank does not have the tools to rescue the economy from an AI catastrophe. BOE Governor Andrew Bailey, an economic historian, compared AI to the Industrial Revolution and said it was likely to displace jobs.

Source: Taipei Times March 07, 2026 17:13 UTC