Fed, Treasury Meet With Bank Chiefs Over Anthropic's Powerful AI Model
Federal Reserve Chair Jerome Powell and Treasury Secretary Scott Bessent convened top bank executives in a closed-door meeting Tuesday to discuss cybersecurity risks from Anthropic's new AI model, Mythos. JPMorgan Chase CEO Jamie Dimon was invited but did not attend.
The meeting, held at Treasury headquarters in Washington, focused on potential threats posed by Mythos and other advanced AI systems. Bloomberg News first reported the gathering.
Anthropic Restricts Model Release
Anthropic announced Tuesday that it will not widely release Mythos because of its advanced capabilities. The model has uncovered vulnerabilities in major operating systems and web browsers.
Instead, Anthropic is launching Project Glasswing, a partnership with Amazon, Apple, and Nvidia to use Mythos for defensive cybersecurity work. The company said in a statement: "Given the rate of AI progress, it will not be long before such capabilities proliferate, potentially beyond actors who are committed to deploying them safely."
Anthropic warned that unrestricted access to these tools could create severe consequences for economies, public safety, and national security.
Government Coordination Continues
A Treasury Department spokesman said the administration is working to prepare financial institutions for emerging security threats. The White House has established an interagency taskforce that includes Treasury to coordinate AI security across government and industry.
"Looking ahead, additional coordination meetings by Treasury are planned across a number of regulators and institutions on an ongoing basis to address these developments," the spokesman said.
The Federal Reserve declined to comment on the meeting.
Broader Context on AI Risk
In 2023, the Biden Administration designated AI as a potential risk to financial stability-the first time that designation had been made. The Trump administration has continued engaging on AI security through its interagency taskforce.
For finance leaders, understanding how regulators assess AI risks is becoming essential. Learn more about AI for Finance or explore an AI Learning Path for CFOs to stay informed on governance and security considerations.
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