European Securities Regulator Warns of Growing Cyber Threats Amid AI Advancements
The European Securities and Markets Authority (ESMA) has raised concerns about the increasing risks of cyberattacks, exacerbated by the rapid development of artificial intelligence (AI) models. Verena Ross, chair of ESMA, highlighted the potential for AI to accelerate the speed and sophistication of cyber threats. The financial sector is particularly vulnerable, as demonstrated by recent reports of a new AI model, Mythos, developed by U.S. company Anthropic, which can identify and exploit cybersecurity vulnerabilities. ESMA is actively engaging with financial entities to assess their cybersecurity measures in response to these developments. The regulator is also considering the inclusion of AI providers in the list of critical third-party providers to enhance tech resilience within the EU's finance industry. 
