FM meets heads of banks on AI risks

PTI

New Delhi

Finance Minister Nirmala Sitharaman on Thursday met heads of banks to discuss risks related to Artificial Intelligence (AI) following global concerns over Anthropic's Mythos model threatening data security of financial systems.

The meeting assumes significance in view of the development of the Claude Mythos AI model by Anthropic, which claims it has found vulnerabilities in many major operating systems. According to sources, risks and measures needed to deal with AI were discussed at the meeting.

The meeting chaired by the Finance Minister deliberated on various risks that AI posed to the financial sector, sources said, adding that banks have been urged to take preemptive measures to secure their systems, data and money of customers. The meeting was attended by top officials of banks, and officials from the Reserve Bank of India and Ministry of Electronics and Information Technology.

According to a senior finance ministry official, the ministry and the RBI are studying the extent of risks that the Indian financial sector faces from this breach. So far, Indian systems are secure and there is no need for unduly worrying, the official said, adding that the RBI is also doing due-diligence at its end to ensure India's financial sector is secure.