‘Growing AI use raises cyberattack risks, could threaten financial stability’

Mumbai: Reserve Bank of India (RBI) governor Shaktikanta Das on Monday warned that a growing reliance on artificial intelligence raises the risks of cyberattacks and data breaches, potentially threatening the country’s financial stability.

While technological advancements such as AI and machine learning (ML) have opened up new avenues of business and profit expansion for financial institutions, these technologies also pose financial stability risks.