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Andrew Bailey, chair of the Financial Stability Board, told G20 finance ministers and central bank governors that advanced AI models increase cyber risks to the global financial system. In a letter to the group, the Bank of England governor identified the potential for these models to conduct cyberattacks as the most immediate concern for the interconnected financial network.
Bailey noted that frontier AI is demonstrating increasingly sophisticated autonomy and problem-solving abilities. He argued that potential disruptions would not stop at national borders and urged officials to prioritize the safe release of new models.
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Key sources
- SOURCE@cnbc“increasingly sophisticated autonomy and problem-solving abilities, as well as threat capabilities”x.com
- SUPPORT@cnn“the potential for such models to conduct cyberattacks represented the "most immediate concern"”x.com
- SUPPORT@wsj“potential disruptions triggered by AI wouldn’t stop at national borders”x.com
- SUPPORT@reuters“AI-driven cyber risk is top concern for global financial stability”x.com
- SOURCE@reuters“AI-driven cyber risk is top concern for global financial stability, watchdog says”x.com
- SUPPORT@ft“Andrew Bailey warns G20 of danger AI poses to financial system”x.com