Scott Bessent shrugs off systemic AI risks at investor conference

US Treasury Secretary Scott Bessent has a message for anyone losing sleep over artificial intelligence: the risk is not systemic, and the industry can handle its own problems. Speaking at a closed-door investor conference on October 21, 2026, Bessent dismissed concerns about ‘systemic’ AI risks. He treated existential warnings from prominent AI figures as alarmist rather than constructive. What Bessent said behind closed doors He has pushed back on a specific combination of requests from parts of the industry. Some AI leaders have called for a slowdown in development while also seeking liability protections. Bessent has been skeptical of that pairing. Bessent has said AI firms could halt operations whenever they choose, which keeps responsibility squarely on their own shoulders. Bessent’s stance favors self-regulation. He wants the AI industry to take ownership of its risks rather than lean on government interventions such as liability shields. A consistent pattern On September 15, 2026, he testified before Congress on AI regulation. During that testimony, he said he had not yet seen a regulation he could support. In early October, he carried similar themes into interviews with Axi...