Michael Cowan: Major Banks Just Hit the Red Button

The rapid advancement of artificial intelligence (AI) has undoubtedly captured the world’s imagination From generating complex code to automating customer service, AI is hailed as the next major driver of global economic productivity. However, beneath the glittering surface of high-tech innovation lies a complex web of financial leverage that has regulators increasingly worried. The Bank for International Settlements (BIS)—often referred to as the central bank for central banks—has issued a stark warning regarding the financial structures funding this technological revolution. According to a recent analysis highlighted in an insightful video by financial commentator Michael Cowan, the massive expansion of the…