# Bank of England governor says regulating AI not the right place to start

Digest AI · Policy & Regulation · published 2026-09-30T10:20:20Z

Canonical: https://digestai.news/story/bank-of-england-governor-says-regulating-ai-not-the-right-place-to-sta

## Summary

Andrew Bailey, the governor of the Bank of England, wrote his first Substack article warning that regulating artificial intelligence is "not the right place to start." He argues that the real and increasingly significant risks around AI should first be addressed through rigorous testing to expose vulnerabilities and build safeguards, while still recognising the technology’s immense benefits. Bailey says a system for intervention and clear boundaries is needed, and that testing failures are evidence of why testing matters, not proof it has failed.

He notes that leaders of Anthropic and OpenAI have recently called for a slowdown and an internationally coordinated risk‑assessment framework. OpenAI, for example, announced it would not release its latest model because of safety concerns. In contrast, President Donald Trump dismissed a slowdown, claiming the United States must stay ahead of China, and said executives had signed a "morally binding" document after a summit to protect against AI risks. In the UK, the AI Security Institute is being set up to help shape future standards, and Bailey adds that formal regulation may eventually follow testing.

## Key points

- Bank of England governor Andrew Bailey says AI regulation should follow rigorous testing, not start with rules
- OpenAI withheld its latest model over safety concerns while Anthropic and others urge a development slowdown
- President Donald Trump said AI firms signed a morally binding safety agreement after a summit

## Why it matters

The shift from immediate regulation to mandatory testing could reshape how governments and firms manage AI risk, influencing future policy and industry standards worldwide.

## Sources

1. [Regulating AI 'not the right place to start' says Bailey](https://bbc.co.uk/news/articles/cvzez7k0pn40o?at_medium=RSS&at_campaign=rss) (BBC Technology, 2026-09-30)

Part of the developing story: [AI Model Race Fuels Market and Security Concerns](https://digestai.news/thread/tesla-stock-slips-amid-ai-concerns) (3 stories)

## Cite

Digest AI, "Bank of England governor says regulating AI not the right place to start", 30 September 2026, https://digestai.news/story/bank-of-england-governor-says-regulating-ai-not-the-right-place-to-sta

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