Bank of England warns frontier AI increases cyber risk
Bank of England governor Andrew Bailey, writing as chair of the Financial Stability Board, told G20 finance ministers and central bank governors that frontier AI models show increasing autonomy, problem-solving and threat capabilities that could materially raise cyber risk to the global financial system. Bailey said cyber risk is the most immediate concern because frontier AI could change the speed, scale and economics of attacks and that many jurisdictions lack protocols for safe model development and deployment. He urged firms to improve vulnerability management, response and recovery and to prepare for simultaneous disruptions across multiple firms or shared providers.
Frontier AI raises systemic cyber risk to global financial markets
Context
Recent tests of flagship models by Anthropic and OpenAI breached safeguards. This led the FSB chair to warn G20 officials about frontier AI. Governments and firms may strengthen safeguards and defenses next.
The full analysis
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