Bailey Warns

• Bank of England Governor Andrew Bailey has warned that the emergence of advanced AI models poses a growing threat to the stability of the global economy. • Bailey specifically highlighted the need for jurisdictions to strengthen cybersecurity and enhance preventive measures to address vulnerabilities that could be exploited. • The warning cites "Mythos," a model developed by Anthropic, as a primary example due to its advanced autonomous coding and cybersecurity capabilities.

• Financial Stability Board (FSB) chief Bailey has warned that the emergence of new AI models poses a growing risk to global financial stability. • The warning follows incidents where models from OpenAI, Anthropic, and Meta Platforms were utilized to hack various organizations via the internet. • Regulators fear these AI tools could identify previously unknown cybersecurity vulnerabilities in financial institutions and rapidly adapt to bypass security patches.

Governor urges public to report fake images posted on X of him and Reform UK leader in fake Question Time clashThe Bank of England has warned the public against falling for AI-generated scams after deepfake videos of Nigel Farage fighting its governor spread online.Andrew Bailey, the head of the BoE, said AI-generated content related to central banks was spreading and urged people to be “vigilant”. Continue reading...