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Risk Channel
North America
AI cyber risk tops FSB concerns

Financial Stability Board Chair Andrew Bailey said AI-driven cyber risk is the most immediate concern facing global financial stability because advanced models could transform the speed, scale and economics of attacks. Bailey, who also serves as Bank of England governor, warned that many countries lack systems to manage increasingly powerful AI deployments and that financial institutions’ reliance on a small group of technology providers could weaken market confidence. He said “advances in capability are matched by resilience and preparedness” must be a priority globally. Regulators are also concerned that AI could accelerate the discovery of cyber vulnerabilities faster than institutions can safely patch, test and recover. Beyond cybersecurity, Bailey highlighted stretched AI valuations, weaknesses in government debt markets and increasing leverage in equity markets as additional financial stability risks.

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Risk Channel
UK/Europe
Tech giants urge global response to AI cybersecurity threats

More than 100 companies, including tech giants Google, Microsoft, Anthropic and OpenAI, have signed an open letter urging a global effort to strengthen AI-powered cybersecurity threats. "We have a limited window to strengthen cyber defences," the letter reads. "In the coming months, AI-enabled cyber attacks will become far more widespread and sophisticated as models around the world become increasingly capable." The companies call on national governments to provide "capable, defensive AI" and testing to hospitals and water utilities, and on technology companies to aid such efforts. Collectively, tech firms and government "should bring the full weight of their technology, resources, and expertise to this effort," the letter says.

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