{"text":[[{"start":7.4,"text":"The latest AI models pose a risk of “correlated failures” that could affect the financial system on a “systemic” level, the IMF has said, urging policymakers to prepare to deal with an “inevitable” breach."}],[{"start":20.65,"text":"The fund warned that the capabilities of new AI models “elevate cyber risk to a potential macro‑financial shock”."}],[{"start":27.65,"text":"The IMF’s alert underlines how regulators are becoming increasingly alarmed at the potential for Anthropic’s Claude Mythos and other AI models developed by US tech companies to threaten the world banking system by exposing weaknesses in lenders’ cyber defences. "}],[{"start":44.9,"text":"“Advanced AI models can dramatically reduce the time and cost needed to identify and exploit vulnerabilities, raising the likelihood of simultaneously discovering and targeting weaknesses in widely used systems,” senior IMF officials wrote in a blog post published on Thursday."}],[{"start":64.1,"text":"“As a result, cyber risk is increasingly about correlated failures that could disrupt financial intermediation, payments and confidence at the systemic level,” they said, adding that the recent controlled release of Mythos “underscored how quickly risks are increasing”."}],[{"start":81.1,"text":"Anthropic said last month Mythos had “found thousands of high-severity vulnerabilities, including some in every major operating system and web browser”. It added: “The fallout — for economies, public safety and national security — could be severe.” "}],[{"start":96.25,"text":"It plans to roll Mythos out gradually, following its release to a small group of 40 organisations that are mostly US-based, allowing them to fix the vulnerabilities it finds. This includes Amazon and Microsoft as well as large banks such as JPMorgan Chase. "}],[{"start":112.35,"text":"The limited release has enabled some companies to receive more “patches”, technical fixes that close vulnerabilities found by Mythos. But many non-US banks and financial groups have been left without access to the new AI model, raising concerns about uneven levels of protection."}],[{"start":128.6,"text":"Companies that have access to the San Francisco group’s new tool told the FT recently that joint action “across the public and private sectors” was essential to support hospitals, banks and utilities vulnerable to the threats it uncovered."}],[{"start":143.54999999999998,"text":"In the IMF’s first publication about the increased cyber security threat from the latest AI models, it urged policymakers to improve international co-operation. "}],[{"start":154.39999999999998,"text":"“Cyber risk does not respect borders,” it said, adding: “Emerging and developing countries, which often have more severe resource constraints, may be disproportionately exposed to attackers targeting regions with weaker defences.”"}],[{"start":168.24999999999997,"text":"The IMF said: “Attacks become more dangerous when discovery and exploitation scale rapidly, with implications for financial stability.”"}],[{"start":177.19999999999996,"text":"Raising doubts over whether the financial system could withstand a major cyber attack powered by the latest AI technology, the IMF said: “Confidence effects, payment disruptions, liquidity strains and fire‑sale dynamics could follow if multiple institutions are affected simultaneously.”"}],[{"start":195.39999999999995,"text":"With many financial institutions using the same software and shared service providers, the blog said AI models could “create simultaneous vulnerabilities across many institutions”. "}],[{"start":206.99999999999994,"text":"Financial software is “harder to target than open-source infrastructure”, the IMF said. But it added that this mitigation was “likely to erode quickly as model training expands, capabilities diffuse and leaks occur”."}],[{"start":220.84999999999994,"text":"“Defences will inevitably be breached, so resilience must also be a priority, specifically to limit how far incidents spread and ensure rapid recovery,” it said. "}],[{"start":231.64999999999995,"text":"Cyber stress testing, scenario analysis and board-level oversight of cyber risks are “indispensable” to defend the financial system, the IMF said, along with better public-private collaboration on threat intelligence and incident response."}],[{"start":253.84999999999994,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1778204064_6786.mp3"}