Hong Kong · OpenAI · Stability AI · Decrypt
Advanced AI is leaving banks less time to fix software flaws before attackers exploit them
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The Financial Stability Institute paper, published on Wednesday, adds to recent warnings from AI developers and financial regulators that increasingly capable models are accelerating cyberattacks.
Key facts
- The warning follows an August call for stronger cyber defenses backed by OpenAI, Anthropic and more than 100 other organizations
- The Financial Stability Institute paper, published on Wednesday, adds to recent warnings from AI developers and financial regulators that increasingly capable models are accelerating cyberattacks
- The paper cites a U.K. Financial Conduct Authority review finding that vulnerability discovery is outpacing firms’ ability to respond, alongside Institute of International Finance guidance urging
- Advanced AI is leaving banks less time to fix software flaws before attackers exploit them, according to a new paper published by the Bank for International Settlements
Summary
A BIS paper warns that AI is shortening the time banks have to repair software vulnerabilities. Supervisors are urging faster fixes and better preparation to contain breaches and restore services. Advanced AI is leaving banks less time to fix software flaws before attackers exploit them, according to a new paper published by the Bank for International Settlements. “The most significant development brought about by frontier AI is autonomous vulnerability discovery and exploitation,” the authors wrote, warning that periodic security assessments and scheduled patching are increasingly insufficient.