Barclays CEO CS Venkatakrishnan has a major warning for Anthropic’s Mythos artificial intelligence (AI) model. According to a report by the news agency Reuters, Venkatakrishnan cautioned the global banking community about the risks posed by advanced AI models such as Anthropic Mythos. He said that Anthropic’s Mythos model is a serious threat to the global banking system and that similar, even more powerful cyber threats may soon follow.Speaking at a meeting of the Group of Thirty (G30) on the sidelines of the IMF spring meetings, Venkatakrishnan said (as reported by Reuters), “On Mythos, look, it’s a serious issue. But here’s the thing: there will be a Mythos 2 and a Mythos 3, and they’ll come up with probably distressing frequency.”These AI advancements are likely to accelerate an ongoing arms race, pushing lenders to adapt and innovate, Venkatakrishnan noted. He highlighted that these advanced AI models could also pose additional challenges for older, larger institutions that may still rely on legacy systems, the Reuters report added.“We have to understand its capabilities and we have to understand how to safeguard against it,” Venkatakrishnan added.
What other global banks across the world said about their concerns with Anthropic’s Mythos AI tool
Other than Barclays, other global banks have also been worried about the potential dangers associated with these AI models, especially those developed by US-based tech firms. This was one of the topics of conversation at the IMF and World Bank Spring Meetings in Washington DC, as all the finance ministers and central bankers had their eyes on the Anthropic AI model, Claude Mythos Preview.At the meeting, AI-related risks reportedly became a key topic, with officials highlighting cybersecurity challenges. Dan Katz, deputy head of the IMF and former chief of staff to US Treasury Secretary Scott Bessent, said, “The evolution of digital technology is posing immense risks from a cybersecurity perspective. This is really going to be absolutely essential on the international agenda for the next few months.”Bank of England Governor Andrew Bailey also addressed the issue, stating, “It is a very serious challenge for all of us. It reminds us how fast the AI world moves,” and noted that regulators need to assess the risks quickly.Meanwhile, Bank of Canada Governor Tiff Macklem said financial systems must prepare for AI that can both identify and exploit vulnerabilities. He said, “This isn’t a one-off. Mythos has arrived; it’s a lot more powerful than what came before. But something else will come that’s even more powerful than that. As a financial system, both within Canada but internationally, we’re going to need to come to grips with how we’re going to manage this on an ongoing basis.”This comes after Anthropic described its Mythos AI tool as a ‘double-edged sword,’ Capable of both improving security and enabling misuse. The model is being tested with select organizations rather than being released publicly.
