Financial regulators scramble to counter AI rise with own tools

Swiss financial regulator Marlene Amstad urges banks and watchdogs to rapidly adopt new technology to counter escalating cybersecurity threats amplified by AI. She highlighted the need for faster vulnerability patching as AI models expose risks. FINMA is promoting AI adoption among global regulators to strengthen financial systems, especially for digital assets, emphasizing Switzerland's need for access to advanced AI for pre-deployment system hardening.