Fed Vice Chair Bowman: Regulators Must Consider How to Address Technologies Like Mythos

On May 2, the Federal Reserve’s top bank regulatory official stated that regulators must consider the best ways to oversee new technologies like Anthropic PBC’s Mythos. ‘On one hand, this capability enables companies to address vulnerabilities they identify themselves, thereby enhancing cybersecurity,’ said Michelle Bowman, the Fed’s Vice Chair for Supervision, in a written statement on Friday. ‘But on the other hand, if misused, it could be used to identify and exploit weaknesses.’ Anthropic has limited the release of its latest AI model as it assesses protective measures against this powerful new technology. This model has also prompted officials from the Trump administration to begin considering the potential for cyberattacks that could threaten financial stability. In April, reports indicated that U.S. Treasury Secretary Scott Basset and Federal Reserve Chair Jerome Powell recently met with Wall Street banks to discuss the potential risks posed by Mythos and to ensure that banks take precautions to protect their systems. Bowman stated on Friday that such meetings are ‘extremely beneficial’ in helping to ensure the banking system is protected. ‘Anthropic’s Mythos, an AI model capable of identifying cyber vulnerabilities, highlights the dynamic nature of this technology and how quickly its capabilities can evolve,’ Bowman noted. She emphasized that regulators must coordinate internally within the government and engage with banks on emerging technologies while supporting the rapid evolution of AI tools. She also added that regulators are developing a report on the adoption and use of AI standards.