The Bank of Italy has stepped up to tackle growing cybersecurity risks, launching urgent talks with global artificial intelligence (AI) companies before powerful new AI models are introduced to the financial sector. Speaking at his annual keynote address on Friday (May 29), Central Bank Governor Fabio Panetta revealed that the regulator has recently started discussions with national authorities, banks and their tech providers to get ahead of the potential dangers.The Bank of Italy’s talks with companies like Anthropic are meant to ensure that these advanced systems are implemented safely and securely before they become widely available to the public. Governor Panetta made it clear that the responsibility for safety stops with the banks. If a bank chooses to outsource its technology to third-party tech providers, those companies carry the exact same burden of responsibility to keep data and money safe.
How Anthropic is central to these talks
According to a report by news agency Reuters, at the centre of the supervisors’ ‘anxiety’ is Anthropic’s new AI model called “Mythos”. Mythos has originally been designed for a good cause, which is, finding flaws in computer code to strengthen cyber defenses. But security experts warn it is a double-edged sword. It is so advanced that the company refused to launch it, saying the AI could easily be weaponised by bad actors to turbo-charge cyberattacks against the very banking systems it is meant to protect.With European banks recently pulling in record profits, Panetta urged executives to use that extra cash to upgrade their digital defenses. However, he emphasised that fixing the issue isn’t just about buying better software.“The response cannot be purely technological,” Panetta said, insisting that bank executives must step up, take clear responsibility, and build strict internal rules and emergency plans to react instantly if a cyberattack strikes.
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