Science & Tech · AI · 11 hrs ago
AI tops Federal Reserve survey of financial stability risks
The Federal Reserve says AI is now the top concern for financial stability among people surveyed about risks to the US financial system.
The share who named AI rose to 87%, from 50% in the spring.
Respondents pointed to cyberattacks, complex financing and the chance that weaker-than-expected AI earnings could trigger a market fall.
The Fed also found that borrowing for advanced computing infrastructure reached $680 billion by October, five times the total issued in all of 2023.
Debt, guarantees and future lease commitments tied to this infrastructure could exceed $3 trillion.
The Fed says investment links between technology firms, lenders and data-center projects need close monitoring, as losses could spread through those connections.
The survey covered responses gathered in September and October, and the Fed says the financial system is relatively stable overall.
Artificial intelligence was the top-cited risk to financial stability in the Federal Reserve’s latest survey, named by 87% of respondents.
That was up from 50% in the Fed’s spring survey.
Respondents cited high stock valuations, cyber threats and complex AI-related financing as concerns.
A correction in risky asset prices was the next most-cited risk, at 52%.
The Fed said borrowing tied to advanced computing infrastructure had exceeded $680 billion by October 2026.
- Who
- The Federal Reserve surveyed market participants, economists, analysts and institutional sources.
- What
- The survey found artificial intelligence was the most frequently cited risk to financial stability.
- When
- The survey was conducted in September and October 2026; the Fed released its report on Friday, November 13.
- Where
- The risks concern the US financial system.
- Why
- Respondents pointed to high stock valuations, cyber threats and complex financing linked to AI.
This story does not have two clearly opposing sides.
50% of respondents cited AI as a financial stability risk in the Fed’s spring survey.
The Fed conducted its survey of financial market contacts.
Debt issuance tied to advanced computing had exceeded $680 billion, according to the report.
The Federal Reserve released its Financial Stability Report.
- AI as a risk
- 87% of survey respondents
- Risky-asset correction
- 52% of respondents
- Long-term interest rates
- 48% of respondents cited higher rates
- Cyberattacks
- 43% of respondents
- Advanced-computing debt issuance
- More than $680 billion by October 2026
3 sources
What people are saying
Participants identified three main areas of concern: first, high stock valuations, with the possibility that lower-than-expected earnings could bring valuations down and trigger a market correction; second, cybersecurity risks, arising from malicious attacks by sophisticated international actors, or from damage that advanced AI models themselves could cause; and third, risks associated with complex AI-related financing activities.