UK Finance Authorities Warn Firms to Mitigate Risks from Frontier AI Models
Authorities Urge Vigilance Over AI-Driven Cybersecurity Threats
Joint Statement from UK Finance Authorities
LONDON, May 15 (Reuters) - British companies should take steps to plan for and mitigate risks from new artificial intelligence models, the country's finance ministry, the Bank of England and the Financial Conduct Authority regulator said on Friday.
Escalating Capabilities of Frontier AI Models
"The cyber capabilities of current frontier AI models are already exceeding what a skilled practitioner could achieve, and at a significantly higher speed, greater scale, and lower cost," they said in a joint statement.
Amplified Threats to Financial Stability
"These capabilities, if used maliciously, amplify cyber threats to firms' safety and soundness, customers, market integrity, and financial stability."
Concerns Over Anthropic's Mythos Product
Last month BoE governor Andrew Bailey said he saw major cybersecurity risks from Anthropic's Mythos product.
Warnings from Cyber Experts
Mythos has drawn warnings from cyber experts about its potential to supercharge complex cyberattacks which could challenge the banking industry and its existing technology.
(Reporting by Muvija M; writing by Suban AbdullaEditing by William Schomberg)
