Regulating AI 'not the right place to start' says Bailey — SkimNews
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Bank of England Governor Andrew Bailey has argued in his first-ever Substack article that 'rigorous' AI testing must come before any formal regulatory framework, calling regulation 'not the right place to start' despite acknowledging risks that are 'real and increasingly significant.'
Why it matters: Bailey's testing-first stance positions the UK against two competing approaches now in the open: the slowdown-and-coordinate path backed by openAI and Anthropic, and the voluntary-pledge path Trump is collecting from US tech CEOs. By pointing to the AI Security Institute as the UK's primary vehicle, Bailey signals that Britain's near-term AI safety play is testing infrastructure, not statutes — and that a 'more formal regulatory framework' is a longer-horizon prospect rather than the next step.
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