Banking Regulators Warn That AI Could Threaten Financial System

Banking regulators are warning that frontier AI models could threaten the financial system. The European Systemic Risk Board (ESRB) and Bank of England (BOE) both issued reports Tuesday (July 7) on the risks of these artificial intelligence (AI) models to financial institutions’ cyber defenses. “Frontier AI models are a paradigm shift for cybersecurity,” the ESRB said in a news release accompanying its report .