ECB Convenes Banks to Fix Flaws Exposed by AI Models, FT Says

The European Central Bank plans to press lenders to accelerate efforts to secure their IT systems after organizing a meeting on cybersecurity risks with the latest artificial intelligence models, the Financial Times reported.

“There is a whole range of issues on cyber security that we have been engaging on with the banks for years which are all still valid, but given the progress in AI, they need to be dealt with faster,” the FT cited ECB Executive Board member Frank Elderson as saying in an interview.

The ECB will warn banks at the meeting on Tuesday about potential threats ...