Fed survey finds AI is the biggest risk to the US financial system, with concern rising sharply

In the survey, 87 percent of respondents said that AI poses a “significant risk” to the current financial system. The corresponding figure six months ago was 50 percent, reports CNBC.

The risks are seen in several areas, such as debt, stock market valuations and security risks.

The survey is part of the Fed’s report on economic stability, which is published twice a year. The respondents include economists, analysts and civil servants.

Other risks highlighted include higher long-term interest rates and cyberattacks.