AnthropicMythos highlights the speed at which artificial intelligence (AI) capabilities can advance and the need for supervisory approaches to keep pace with emerging technology, Federal Reserve Vice President for Supervision Michelle W. Bowman He said Friday (May 1).
In a letter It was presented at an event I hosted Financial Stability Oversight Board In Washington, D.C., Bowman said regulators must ensure safety and soundness without hindering innovation.
The Mythos AI model’s ability to detect cyber vulnerabilities could be used to enhance cybersecurity or for malicious purposes, Bowman said.
“As we learn more about this tool and others that will be released in the coming weeks and months, we will continue to consider effective supervisory approaches for these and other emerging capabilities,” Bowman said.
Regulatory oversight of emerging technologies requires keeping up with new developments, coordinating efforts across government, communicating developments and risks to supervised institutions, obtaining feedback from industry, and regularly improving supervisory approach and response, Bowman said.
“As we work to support innovation, it is essential to determine whether our framework is appropriate,” Bowman said. “Have we set reasonable and effective supervisory expectations? Are bankers comfortable discussing emerging risks and new technologies with supervisory teams? Have we succeeded in implementing a pro-innovation mindset that allows responsible innovation and adoption of AI within the banking system?”
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Bowman said that Financial Stability BoardThe Permanent Committee on Supervisory and Regulatory Cooperation, which she chairs, works with Ministry of Treasury and Securities and Exchange Commission (SEC) on a report covering good practices for adopting, using and innovating artificial intelligence. The draft is scheduled to be released in the third quarter.
“The implications of AI extend beyond banking and financial systems,” Bowman said.
It was reported on April 7 that Anthropic was allowing select partners early access to the Claude Mythos Preview, a model created for defensive purposes. Cyber security work, so they can identify vulnerabilities and harden systems before threats exploit them.
Anthropic said at the time that it was also discussing the model and its “offensive and defensive cyber capabilities” with government officials.
On April 10, a Treasury Department spokesperson told PYMNTS that Treasury Secretary Scott Besant had a meeting with CEOs of the bank To address development in artificial intelligence.
