Artificial intelligence models are advancing rapidly, increasing the speed, scale, and affordability of cyberattacks and potentially putting the global financial system at risk, the Financial Stability Board warned G20 ministers and central bank governors in a letter.
The United States is hosting the G20 Finance Ministerial, a two-day meeting of central bank leaders, finance ministers, and top names from the world’s leading economies, in Asheville, North Carolina, this week. Officials are dealing with a heavy portfolio of issues, from global bond market volatility to stubborn price pressures, and AI could also be central to the talks.
“Frontier AI offers significant opportunities to strengthen cyber defence; but recent developments highlight the importance of ensuring that advances in capability are matched by resilience and preparedness,” the financial watchdog’s chair, Andrew Bailey, who is also Bank of England governor, wrote in the Aug. 28 letter….
