Tombini warns AI financing can obscure risk concentrations
Alexandre Tombini of the Bank for International Settlements (BIS) warns that AI investment can obscure financial risk concentrations. He links stability outcomes to how the technology is adopted, financed and governed.
Investment links obscure exposures
Artificial intelligence is becoming a force with economy-wide implications, Alexandre Tombini said at the Mexican Banking Association (ABM) Seminar on Financial Stability and Markets.
Adoption and supporting investment generate economic benefits, but potential over-investment also creates financial vulnerabilities.
Complex debt structures and circular investment relationships can obscure concentrations of risk.
Within finance, AI offers opportunities to improve efficiency and customer services while introducing operational and cyber risks.
As systems become more autonomous, agentic financial transactions raise technical, legal and policy questions.
Tombini tied the stability impact to adoption, financing and governance.
Cooperation across financial borders
Tombini, Chief Representative of the BIS Representative Office for the Americas, delivered the virtual speech on November 3, 2026.
He said international cooperation can help harness AI's benefits and strengthen the capacity to manage adverse effects.
His remarks covered both the financing of AI investment and the use of AI within financial services.
The source links to a 16-page speech and states that the views expressed are Tombini's, not necessarily those of the BIS.
Governance shapes the outcome
Tombini frames AI's stability impact around adoption, financing and governance rather than technology alone.
The risks span investment structures and financial operations.
His call for cooperation accompanies recognition of both economic benefits and financial vulnerabilities.
Source: Navigating financial stability in the age of AI
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