BofA CEO joins bank executives warning about the risks of “Mythos” AI

Deep Tide TechFlow news: On July 16, U.S. Bank CEO Brian Moynihan joined a group of Wall Street leaders in voicing agreement with serious concerns about AI models such as “Mythos” developed by Anthropic. “This marks a massive shift in workload, and it also involves how quickly these tools can affect system vulnerabilities, and how fast we must respond.” Moynihan said. In recent months, the rapid evolution of AI models has prompted the financial industry and the U.S. government to begin assessing potential threats.

Anthropic claims that its Mythos model, released earlier this year, performs well at finding system vulnerabilities. U.S. Bank is among the Wall Street firms authorized to use Mythos. The bank uses the model to test its own systems and share information with peers. At present, the model is not yet open to the public; JPMorgan Chase CEO Jamie Dimon warned earlier this week that broadly making the system available to the public is as dangerous as “handing ballistic missiles to individuals.” (Jin10)