Bank of England says AI software could create market crisis for profit

Increasingly autonomous AI programs could end up manipulating markets and intentionally creating crises in order to boost profits for banks and traders, the Bank of England has warned.

Artificial intelligence’s ability to “exploit profit-making opportunities” was among a wide range of risks cited in a report by the Bank of England’s financial policy committee (FPC), which has been monitoring the City’s growing use of the technology.

The FPC said it was concerned about the potential…