“There is a whole range of issues on cyber security that we have been engaging on with the banks for years which are all still valid, but given the progress in AI, they need to be dealt with faster,” the FT cited ECB Executive Board member Frank Elderson as saying in an interview.
The ECB will warn banks at the meeting on Tuesday about potential threats to the financial system highlighted by Anthropic PBC’s Claude Mythos Preview and similar AI systems, while asking US banks with access to the technology to share insights with European peers excluded from testing, Elderson told the FT.
Elderson warned banks to deploy software patches more quickly because AI can uncover vulnerabilities within minutes of a fix’s release. European banks can’t use lack of access to Mythos as an excuse for inaction, because malicious actors could soon gain access to the technology, he said.
Mythos, which can identify unknown flaws in IT systems, has sent a wave of anxiety across Europe as Anthropic is limiting access to it. The European Union is in talks with Anthropic about having companies and banks tested for vulnerabilities that Mythos uncovers, European Commissioner Valdis Dombrovskis said on May 4.
Anthropic said last month that Mythos identified thousands of severe vulnerabilities across major operating systems and browsers. French AI startup Mistral AI is in discussions with European banks about deploying its own product to uncover security flaws.
More stories like this are available on bloomberg.com
