00:00It's Benzinga bringing Wall Street to Main Street.
00:02The head of the G20's Financial Stability Board warned that advanced artificial intelligence
00:08models pose a growing threat to the global financial system and called for measures
00:13to ensure their safe release, according to the Wall Street Journal.
00:17Andrew Bailey said,
00:18Frontier AI models are showing greater autonomy, problem-solving abilities,
00:23and threat capabilities that could expose weaknesses in financial institutions' cybersecurity
00:28systems.
00:28He warned that disruptions could spread across borders because financial firms rely on
00:33shared technology providers and infrastructure.
00:36Many jurisdictions lack protocols for managing the development, release, and deployment of
00:41advanced Frontier AI models, increasing risks.
00:44Bailey urged banks and regulators to prepare for severe scenarios involving simultaneous disruptions
00:50across multiple...
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