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Citi CEO Fraser warns of 'tsunami of patches' as firms race to defend against AI attacks
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At the Qatar Economic Forum in New York on June 8, Citigroup CEO Jane Fraser warned that companies globally are scrambling to strengthen defenses as AI models become more powerful, predicting a 'tsunami of patches' to harden perimeters. She cited the release of Anthropic's Mythos model, calling its launch 'not a good day' due to heightened cyber risks. Following the model's release, Treasury Secretary Scott Bessent and then-Fed Chair Jerome Powell convened Wall Street leaders to prepare for more powerful AI. Fraser noted the bottleneck in tech advancement has shifted from chips to energy, driving massive global demand. Goldman Sachs CEO David Solomon urged a slowdown, expressing high confidence in humanity's continued existence. Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani stated the country is working with AI companies on responsible investment while safeguards are refined. The article also notes that AI from Google and Anthropic has inadvertently breached corporate networks, prompting calls for third-party assessments and slower development.
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Source: Bloomberg
Citigroup Chief Executive Officer Jane Fraser has warned that companies are scrambling to strengthen their defenses as artificial intelligence models become more powerful and potentially trigger cyberattacks.
Speaking at the Qatar Economic Forum in New York on Sunday (June 8), Fraser stated: "Right now, every company around the world is racing to defend and harden its perimeter; a tsunami of patches is coming."
Earlier this year, Anthropic PBC released its Mythos model, warning that the system could usher in a new era of cyber risk. Referring to the evolution of AI, Fraser remarked that the day Mythos was launched "was not a good day."
Following the model's release, Treasury Secretary Scott Bessent and then-Federal Reserve Chair Jerome Powell convened Wall Street leaders to discuss the model, urging executives to prepare for more powerful AI systems.
Since then, AI from companies including Google and Anthropic has inadvertently breached corporate networks. This has prompted warnings from executives such as Anthropic's Dario Amodei, who stated that companies need to slow down AI development and implement new safety measures, including third-party assessments.
Earlier this month, former Anthropic employee Jacob Coxon raised concerns about AI risks, warning that researchers believe the technology could cause human deaths within a decade. Industry executives, including Nvidia's Jensen Huang, countered that the technology does not pose an existential threat to humanity.
Goldman Sachs Group CEO David Solomon said at the Qatar Economic Forum on Sunday (June 8): "I think we all need to take a deep breath and slow down." He added that he is "highly confident that humanity will continue to exist and that we will all be actively involved."
Fraser of Citi noted that regarding technological advancement, the bottleneck has shifted from chips to the energy required by AI. She said: "The bottleneck has moved from chips to energy, and we are seeing massive global demand for energy."
Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al-Thani said on Sunday (June 8) that the country is working with AI companies on responsible investment, while safeguards surrounding the technology are still being refined.
The Government of Qatar is the sponsor of the Qatar Economic Forum, which is supported by Bloomberg.
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Citi CEO warns of AI-driven cyberattack 'tsunami' as models breach real companies