Fiserv, Inc.Bailey warns AI cyber attacks could exploit shared tech providers like Fiserv, urging stricter controls and defense rebuilds.
Bank of England Governor Andrew Bailey has warned that AI-driven cyber attacks could cause a widespread instability and panic in the global financial system, potentially leading to a downturn. He noted that the financial system relies on a small pool of shared tech providers, such as Bloomberg Terminal, Intercontinental Exchange, Fiserv, and Visa, making it vulnerable to cascading failures. Bailey emphasized that frontier AI models can operate faster, at larger scale, and more efficiently than human hackers, posing unprecedented risks. He called for stricter controls on AI model releases and urged financial institutions to rebuild their defenses from first principles. The warning follows tests of Anthropic's Mythos model, which found vulnerabilities in systems of major institutions, highlighting the urgency of the threat.
Fiserv, Inc.Bailey warns AI cyber attacks could exploit shared tech providers like Fiserv, urging stricter controls and defense rebuilds.
Visa Inc. Class AVisa is named as a shared tech provider at risk from AI cyber attacks, with calls for stricter controls.
Intercontinental Exchange IncICE is cited as a shared tech provider vulnerable to AI-driven cyber attacks, prompting regulatory warnings.
Anthropic's Mythos model is tested and found vulnerabilities, but the warning highlights risks of AI models, potentially leading to stricter controls on releases.