US Treasury Secretary Scott Bessent stated on October 21, 2026, that artificial intelligence does not pose a systemic risk to the financial system. He dismissed warnings from industry leaders regarding existential threats as alarmist.
Bessent expressed skepticism toward industry requests that combine calls for development slowdowns with demands for liability protections. He emphasized that companies can halt operations independently and should remain responsible for their own outcomes.
The Treasury Secretary advocates for industry self-regulation rather than government intervention. During his testimony before Congress on September 15, 2026, he noted that he had not yet encountered any AI regulation he could support.
Bessent has initiated discussions between the United States and China focused on AI incident notifications. These talks aim to address risks related to cyberattacks and uncontrolled AI agents.
