Khaberni - Regulatory bodies in Australia stated on Monday that they closely monitor the development of the advanced AI model "Mythos" by Anthropic, which experts believe could be used to destabilize banking systems.
Experts have pointed out that the substantial capabilities of "Mythos" in high-level programming have given it an unprecedented potential ability to detect cybersecurity vulnerabilities, prompting some regulators around the world to intensify scrutiny.
A spokesperson for the Australian Securities and Investments Commission (ASIC) said on Monday: "ASIC is closely monitoring these developments alongside peer regulators to assess potential implications on the Australian market," according to "Reuters".
The spokesperson added that the agency is "closely cooperating with other regulatory bodies, government agencies, and the financial sector to understand changing technologies and respond to them."
The Australian Securities and Investments Commission said it expects licensed financial service providers to be proactive in protecting their clients.
Meanwhile, the country's banking sector regulator, the Australian Prudential Regulation Authority (APRA), said that it "will continue to assess the implications of these technological developments to ensure the continued safety and robustness of the financial system."
In South Korea, the Financial Supervisory Service in the country said it held a meeting with information security officials from financial companies to review risks associated with the "Mythos" model.
The country's Financial Services Commission held an emergency meeting last Wednesday with senior information security officials from the Financial Supervisory Service, banks, and insurance companies to review the risks, according to what was reported by the official Yonhap News Agency in South Korea citing informed sources in the sector not named.
