UK firms should take steps to limit risks from frontier AI models, UK says
UK firms should take steps to limit risks from frontier AI models, UK says
Publish Date: 2026-05-15 10:33:00
Source Domain: www.reuters.com
- British companies need to plan for risks posed by new artificial intelligence (AI) models, according to a joint statement from the finance ministry, Bank of England, and Financial Conduct Authority.
- Current frontier AI models have cyber capabilities that exceed the skills of a skilled practitioner, operating at higher speed, greater scale, and lower cost.
- These AI capabilities, if misused, intensify cyber threats to the safety and soundness of firms, their customers, market integrity, and financial stability.
- Andrew Bailey, the BoE governor, highlighted major cybersecurity risks from Anthropic’s Mythos product last month, which has also received warnings from cyber experts regarding its potential to enhance sophisticated cyberattacks in the banking sector.
