Anthropic · OpenAI · Google · Microsoft · BBC Technology
Time is running out for cyber security, warn top tech companies
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
Anthropic AI used fake profiles to target people in hack then hid the evidence.
Key facts
- His warning comes several months after UK Chancellor John Healey announced a £100m fund aimed at backing British AI start-ups
- Andrew Bailey said any collapse of growth in the AI sector could lead to a "future market correction" that spreads worldwide
- Earlier this month, a group of 100 firms, including Google, Microsoft, Anthropic and OpenAI, urged countries and groups to beef up their cyber defences before AI grows powerful enough to override them
- Bailey, who was writing in his capacity as chairman of the Financial Stability Board international watchdog (FSB), expressed concern about the "volatility" prompted by the effect of energy supply
Summary
The governor of the Bank of England has warned G20 finance ministers that artificial intelligence could cause a global economic downturn and pose a significant cyber security risk to financial systems. Andrew Bailey said any collapse of growth in the AI sector could lead to a "future market correction" that spreads worldwide. In an open letter to finance ministers in the US on Monday, he said companies around the world should prepare for security breaches "involving simultaneous disruption across multiple firms". Earlier this month, a group of 100 firms, including Google, Microsoft, Anthropic and OpenAI, urged countries and groups to beef up their cyber defences before AI grows powerful enough to override them. Bailey told the G20 finance ministers that a combination of highly priced stock markets, increased borrowing by investors, and the growing concentration of money into several major technology companies could amplify any future market correction.