JAKARTA - Barclays CEO, C. S. Venkatakrishnan, warned that a sophisticated artificial intelligence (AI) model called Mythos has the potential to be a serious threat to the global banking system. He also assessed that the emergence of technology similar to higher capabilities is only a matter of time.
Venkatakrishnan's statement was delivered at the Group of Thirty (G30) forum on the sidelines of the International Monetary Fund's spring meeting in Washington. In his view, Mythos reflects a technological leap that could accelerate the race between security innovation and cyber threats.
The AI model developed by Anthropic is considered to have high-level programming capabilities, including identifying security gaps in digital systems. This capability raises concerns that this technology can be used to exploit the weaknesses of banking systems, especially those that still rely on old infrastructure.
"This is a serious issue. And what needs to be understood, after Mythos there will be Mythos 2, Mythos 3, with a frequency that may be worrying," said Venkatakrishnan.
Global financial regulators are now said to be moving quickly to assess the potential risks of the model. A number of institutions have begun testing to understand the extent of the threat to the stability of the financial system, including the possibility of exploiting legacy systems that are still used by major banks.
According to Venkatakrishnan, the greatest pressure will be felt by financial institutions with old technology systems that are less adaptable to rapid changes. In this context, digital transformation is no longer just a strategic choice, but an urgent need to survive.
This phenomenon also marks a new chapter in the cyber security landscape, where AI is not only a defensive tool, but also a potential weapon. The race between innovation and risk mitigation is expected to intensify, with the financial industry at the forefront.
"The most important thing is to understand the capabilities of this technology, while ensuring that we have adequate protection," he said.
The warning comes amid growing global concern about the impact of generative AI on the financial sector, from operational efficiency to potential systemic disruption. For industry players, the message from Barclays is clear: a new era of risk has arrived, and a slow response could be an expensive gap.
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