Financial regulators scramble to counter AI rise with own tools

Banks and financial sector watchdogs must move quickly to adopt new technology to plug system vulnerabilities as AI supercharges cybersecurity risks, a top Swiss financial regulator said in an interview.

Here are a few details:

Marlene Amstad, president of Swiss market regulator FINMA and chair ‌of an ⁠international forum ⁠on supervisory technology, spoke to Reuters following an initial hackathon to build new tools with market supervisors.