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Fed explores AI dominance in banking
The article discusses the Federal Reserve's efforts to gain access to the advanced artificial intelligence program "Mythos," developed by Anthropic. Currently, several Wall Street banks use this program to enhance their security capabilities and identify vulnerabilities and weaknesses in digital systems. The program aims to improve security risk management by simulating breaches and detecting vulnerabilities before they can be exploited. Despite major financial institutions employing this model, the Federal Reserve still does not have access to it, raising concerns about security gaps and the government's ability to monitor and control critical AI tools within the financial sector. This situation reflects a significant shift in the power dynamics between governments and tech companies, as the need for control and competition over AI models that impact the stability of the global financial system continues to grow.
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