Post by Bank for International Settlements – BIS

Does frontier AI represent a "Mythos moment” – a wake-up call that forces a fundamental rethink of the robustness and resilience of financial market infrastructures? In the latest BIS Bulletin, "A Mythos moment? Frontier AI and cyber risk", Iñaki Aldasoro, Raphael A., Jon Frost and Fernando Perez-Cruz argue that frontier AI models are increasing the speed, scale and complexity of cyber attacks while also strengthening cyber defence, but the costs are asymmetric and may tilt the balance towards attackers. The most capable models can now not only find vulnerabilities in software but develop exploits and autonomously carry out sophisticated multi-step attacks. Whether these tools raise or lower systemic cyber risk depends on who gains access to the most advanced models, the compute power to run them and the economic incentives at play. Given the pace of recent developments, the authors argue that the swift adoption of frontier AI models to review code bases and fix vulnerabilities is essential and that domestic and international coordination can help authorities protect critical financial infrastructure and sustain trust in the system. Read more here: https://bit.ly/45h4NnC #BISBulletin