[Bank of England Governor Calls for Strengthened Regulation Using AI, Reiterates Financial Industry Risk Warnings] Bank of England Governor Bailey stated on Monday that he and other institutions responsible for regulating the financial services industry should leverage artificial intelligence to help identify issues within the entities they oversee. 'I believe we all need to make significant investments in data, data science, and related technologies,' he noted. He pointed out that the central bank and other regulatory bodies collect vast amounts of data, but 'I don't think anyone can confidently say we are utilizing this data optimally... This also poses risks for regulators: you have the evidence but fail to act on it, only to realize later that your system already contained "critical clues."' Bailey reiterated his stance that calls to reduce financial regulation should not lead the financial services industry back to high-risk behaviors that could endanger the broader economy.