Japan is moving into 'crisis mode' to protect its financial industry from sophisticated artificial intelligence (AI). Finance Minister Satsuki Katayama has announced that the government will establish an emergency task force to address severe cybersecurity risks linked to Anthropic's powerful Mythos AI model.
Why Japan is Establishing a Task Force for AI
According to a report by Reuters, the decision follows a high-level summit involving Japan's biggest financial players, including the Financial Services Agency, the Bank of Japan, the National Cybersecurity Office, and the country's 'big three' private banks.
'I told the meeting that this is a crisis that is already at hand, and similar concerns were also voiced by the financial industry,' Katayama was quoted as saying. The urgency comes after Anthropic, the creator of Mythos, revealed that the AI has already uncovered 'thousands' of major security flaws in every major operating system and web browser currently in use.
With this ability, Mythos has proven efficiency at finding 'zero-day' vulnerabilities, which are security holes that were previously unknown to the people who built the software. Experts warn the AI can find and exploit these holes much faster than human engineers can patch them.
Vulnerability of the Financial Sector
The financial sector is particularly vulnerable because of how it is built. The report says that global banking relies on a 'complex and interconnected' web of technology, much of which is decades old. Katayama said since banks operate in real-time, a single successful hit could spread through the global economy in seconds because of the high level of interconnectedness and real-time operations.
'Because of this, a cyberattack can immediately spill over into market disruptions and undermine,' she added.
Why Mythos Has a 'Risk Factor'
The AI identifies flaws at a pace that traditional security teams cannot match, and with older banking software, often used for decades, it is an easy target for advanced AI. This can cause catastrophic problems if the model lands in the wrong hands. It is due to this reason that Anthropic chose not to launch Mythos publicly and gave limited access to certain banks and tech companies.
Global Concerns
Japan is not alone in its concern. Regulators in the US, Europe, and across Asia have issued similar warnings, urging banks to 'review their defenses'. Meanwhile, Anthropic is said to be preparing to offer access to financial institutions in the UK and Europe.
