Economist warns advanced AI models like Anthropic’s Mytho can ‘destroy the financial system’
An economist has issued an urgent warning about powerful and advanced AI models like Anthropic’s Mytho, which she believes could ‘destroy the financial system’ if misused.
This comes as the head of the International Monetary Fund (IMF) has spoken out about the rapid rise of advanced artificial intelligence, saying cutting-edge models could pose a serious threat to global financial stability if they fall into the wrong hands.
As reported by Politico, IMF Managing Director Kristalina Georgieva spoke to reporters in Brussels, Belgium, where she said that next-generation AI systems, including Anthropic’s recently unveiled Mythos model, have capabilities that could be exploited by cybercriminals to launch highly sophisticated attacks against critical infrastructure and financial networks.
The head of IMF warns about AI model capabilities ‘in the wrong hands’
Georgieva said: “What we recognize is that Mythos is just the beginning, there will be more like it.”
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She shared the positives of these AI models, explaining how they can be used to find ‘cybersecurity vulnerabilities with speed and scale that was unthinkable until now’ and work to ‘patch these vulnerabilities and protect the financial system from attacks’.
However, placed into the wrong hands and this could be a very different story, with Georgieva warning: “That same capacity can be used to destroy the financial system and this is something that puts us in a position of catching up.”
The IMF chief called for stronger international cooperation on cybersecurity, arguing that protecting financial systems can no longer be treated as an issue for individual countries alone. She pointed out that there is currently no equivalent of a global cybersecurity authority and suggested that achieving that level of coordination would be a struggle.
IMF urges countries to strengthen global cybersecurity
Georgieva went on to urge more advanced economies to ‘figure out a way to help the developing world’ to better strengthen its cybersecurities.
She added: “If there is a big weakness, it will be utilized, and the world is integrated, the financial systems are integrated.”
The warning came as the IMF presented its latest assessment of the eurozone economy, which now faces a weaker outlook amid ongoing geopolitical tensions and higher energy costs.
The organization expects economic growth across the eurozone to be slower than previously forecast, while inflation is projected to remain elevated for longer.
The IMF also said that policymakers will need to balance support for households and businesses with efforts to keep public finances under control.