Mark Carney calls for global stability board to police artificial intelligence

What happened

Canadian Prime Minister Mark Carney has called for the creation of a global "technology stability board" to coordinate safety standards and oversee the rapid development of artificial intelligence.

Speaking in an interview with Bloomberg News, Carney said the proposed regulatory body should be modelled on the Financial Stability Board, the international watchdog established after the global financial crisis to monitor and reform the international financial system.

"There's a need for coordination," Carney said, arguing that establishing international rules for the technology would eventually lead to "greater value creation and greater value delivery to people."

Who is involved

The proposal comes amid a widening global divide over how to handle the risks of advanced artificial intelligence. Some industry figures, such as Anthropic chief executive Dario Amodei, have warned that highly advanced systems must be developed more slowly to prevent them from slipping beyond human control. However, US President Donald Trump has dismissed the need for AI guardrails and publicly criticised Amodei for urging caution.

Carney’s push for international tech regulation coincides with a major domestic charm offensive aimed at deep-pocketed foreign financiers. The Canadian government is currently hosting an investment summit in Toronto, targeting more than 100 high-profile global investors, including executives from Blackstone, Singapore’s Temasek Holdings, and Apollo Global Management.

What happens next

To tempt these firms to park their money in Canada—where Carney admitted foreign capital is currently "underallocated"—the government is planning a series of major policy shifts. Carney promised that Canada will soon announce tax reforms designed to make its business environment more competitive globally. The government also plans to slash bureaucratic red tape by accelerating federal approvals for major infrastructure and industrial projects, aiming to guarantee decisions within a single year.

Canadian officials and business executives are pitching a prospectus of more than 160 projects that require hundreds of billions of dollars in private funding, though some of these proposals are still in their infancy. The effort begins with a gala dinner on Monday evening, followed by a full schedule of conference discussions at the Four Seasons hotel in Toronto on Tuesday.

The summit takes place against a backdrop of trade friction with the US, which has cast a shadow over Canada’s economic outlook. Despite the tension, Carney said he remains optimistic that the two nations can secure a "mutually advantageous" deal. He welcomed recent comments from Trump suggesting a trade agreement could be reached fairly soon, stating that Canadian negotiators are "ready to sit down and negotiate that and move it forward."