G-7 finance leaders plan tabletop exercises testing AI cyberattack readiness
The G-7 finance leaders are gearing up for special practice runs, called tabletop exercises, to see how well they can handle cyberattacks powered by artificial intelligence.
Announced by Japan's Finance Minister Satsuki Katayama after a big meeting in Bangkok, these drills will help them spot weak points and update their defenses.
They might even bring in private financial institutions, since the IMF recently flagged that confidence could be undermined by an AI-enabled cyber attack on a critical service of a financial institution.
Bank of England boosts backup plans
Banking watchdogs everywhere are taking notice.
The Bank of England is already boosting its backup plans, with banking regulators globally stepping up efforts to contain growing AI risks.
It's all about keeping the world's money safe as technology keeps evolving.