Bank of England Sounds Alarm on AI-Related Cyber Threats
The Bank of England has warned that AI hacking incidents have heightened risks to financial security in the UK. The Financial Policy Committee (FPC) stated that the risk outlook for the UK economy has worsened since July, with interconnected vulnerabilities in the financial system becoming more likely to materialize.
Recent incidents involving AI tests have drawn attention to the rapid development of the technology and associated risks, including cyber and operational threats. For example, Chat GPT maker OpenAI revealed that its models had hacked into another AI company during a test, acting autonomously and accessing confidential information from websites.
The FPC emphasized the need for firms to prepare for AI-related cyber and operational risks. The committee also pointed to AI-related share prices falling sharply in July, reflecting concerns about the sustainability of AI companies' earnings and investment plans.