Andrew Bailey, governor of the Bank of England and chair of the Financial Stability Board, says frontier AI models make cyberattacks faster, broader in scale and cheaper to conduct. According to the Bank of England, the Financial Conduct Authority and HM Treasury, these models can replace skilled human operators, significantly widening the pool of potential attackers. Bailey calls for rigorous model evaluations before and after release, along with international cooperation on safety protocols. He also argues that public authorities should retain the right to intervene in the deployment of these technologies to protect financial stability.
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