Global banking watchdog warns on AI ahead of World Economic Forum 

The Basel Committee on Banking Supervision has said that global leaders need a coordinated response to address the challenges presented by Artificial Intelligence (AI).

Pablo Hernández de Cos, the chair of the Basel Committee on Banking Supervision and governor of the Bank of Spain cautioned that the rapid evolution of this technology can alter the course of history, and not necessarily in a positive way.

According to a Financial Times report, in anticipation of the upcoming summit in Davos, De Cos urged leaders to consider financial regulation as a model for addressing issues like AI and climate change.