Zhou Xiaochuan: Research and contingency plans should be carried out to guard against financial risks triggered by failed AI investments

On October 20, citing Jiemian News, Zhou Xiaochuan, former governor of the People's Bank of China, said at the 2026 Bund Summit roundtable "AI and Productivity Transformation: Macro Shocks Amid Technological Leap" that for the evolution of artificial intelligence technology, we will undoubtedly face a situation where some investments fail and some succeed. However, considering that such an enormous amount of capital is now flowing into artificial intelligence and related infrastructure, once part of it fails, it could trigger financial turmoil and even brew a crisis. This would require large-scale action to support the economy and bail out some financial institutions. Therefore, we should conduct research and make contingency plans, and reserve corresponding policy tools in the policy toolbox to deal with such turmoil and impact.