The Federal Reserve’s top bank cop said regulators must consider how best to supervise new technology like Anthropic PBC’s Mythos, as officials grapple with the potential risks of artificial intelligence models.
"On one hand, this capability enables firms to address self-identified vulnerabilities thereby enhancing cyber security,” Fed Vice Chair for Supervision Michelle Bowman said in prepared remarks on Friday. "But on the other hand, if used maliciously it could be deployed to identify and exploit weaknesses.”
Anthropic has limited the release of its latest AI model as the company weighs guardrails for the powerful new technology. That has led Trump administration officials to consider the potential for a new level of cyber attacks that pose a threat to financial stability.
Treasury Secretary Scott Bessent and Fed Chair Jerome Powell recently met with Wall Street banks to discuss the possible risks raised by Mythos and to make sure lenders are taking precautions to defend their systems, Bloomberg reported last month. Bowman said Friday that type of meeting is "extremely beneficial” to ensuring the protection of the banking system.
"Anthropic’s Mythos – an AI model that identifies cyber vulnerabilities – highlights the dynamic nature of this technology and the rapid pace that its capability can evolve,” Bowman said.
The Fed’s top bank cop emphasised that regulators must coordinate across government and discuss emerging technology with banks while supporting the rapid evolution of AI tools. She added that regulators are working on a report on sound practices for AI adoption and use. – Bloomberg
