Bank of England's Breeden signals new rules to govern agentic AI

LONDON, June 30 (Reuters) - The Bank of England on Tuesday signalled the need for bespoke AI regulation to contain risks to the financial ‌system posed by increasingly capable agentic systems, in a potential shift in ‌its approach to overseeing the technology.

Following years of insistence that existing frameworks were sufficient to mitigate AI ​risks, Deputy Governor Sarah Breeden said rapid developments in areas like agentic payments and trading had exposed potential gaps that could require a more sophisticated regulatory response.

Agentic AI can make decisions and operate autonomously.

"Our frameworks were not built to contemplate autonomous agents, and ‌relying on a human in ⁠the loop for all agent actions is unlikely to be realistic," Breeden told the European Central Bank Forum on central banking in ⁠Portugal.

Breeden said the BoE is considering whether banks need "enhanced recovery" for core systems, allowing one bank to take over another's basic functions during a disruption.

Other measures ​under ​consideration include fresh guardrails and circuit breakers or ​kill switches "that would limit or ‌stop trading market-wide if faulty AI models cause market meltdown."

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Fuente original: Yahoo Finance (https://finance.yahoo.com/technology/ai/articles/agentic-ai-may-require-regulatory-123229374.html)