The International Monetary Fund (IMF) has warned that emerging economies with limited resources may be more vulnerable to cyber attacks due to weaker defences. The study highlights the risks posed by advanced AI models and the interconnected nature of the global financial system, with the potential for dramatic reductions in time and cost of exploiting vulnerabilities. The IMF chief also warned that the global financial system is not ready for the cybersecurity threats posed by AI, seeking global collaboration on the issue.
IMF warned that emerging economies with limited resources may be more vulnerable to cyber attacks due to weaker defences. (AFP pic) WASHINGTON: The International Monetary Fund (IMF) warned on Thursday of the risks to global financial stability posed by cyberattacks powered by advanced artificial intelligence tools, calling for greater international cooperation on the issue.
The study's authors highlighted the risks posed by the highly interconnected nature of the global financial system, with advanced AI models able to 'dramatically reduce' the time and cost of exploiting vulnerabilities. They also warned that emerging and developing countries, which often have more severe resource constraints, may be disproportionately exposed to attackers targeting regions with weaker defenses.
The IMF chief Kristalina Georgieva warned last month that the global financial system was not ready for the cybersecurity threats posed by AI. She sought global collaboration on the issue, seeking more attention to the guardrails that are necessary to protect financial stability in a world of AI
International Monetary Fund Cyber Attacks Advanced AI Models Emerging Economies Global Financial Stability International Cooperation Advanced AI Models Emerging Economies Global Financial System Kristalina Georgieva
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