NEW YORK/LONDON – Banking regulators are stepping up efforts to contain growing artificial intelligence risks, six people familiar with the matter have said, with some pointing to the potential for cyberattacks on banks or rogue agents undermining global financial stability.
The regulatory scrutiny reflects growing recognition that advances in frontier AI may require costly investments in cyberrecovery, greater attention to dependencies on external technology providers and in some jurisdictions more formal regulatory guidance, sources said.
Three top regulators in the United States, including the Federal Reserve, are quizzing banks about their use of advanced artificial intelligence models, two of the people said, which adds to prior scrutiny.
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