{"id":24225,"date":"2026-05-01T10:11:27","date_gmt":"2026-05-01T10:11:27","guid":{"rendered":"https:\/\/www.europesays.com\/ai\/24225\/"},"modified":"2026-05-01T10:11:27","modified_gmt":"2026-05-01T10:11:27","slug":"swiss-bankers-wary-but-not-spooked-by-mythos-ai-threat","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ai\/24225\/","title":{"rendered":"Swiss bankers wary, but not spooked by\u00a0Mythos AI threat"},"content":{"rendered":"

\"Computer<\/p>\n

The jury is still out on whether Mythos will harm or help banks. <\/p>\n

Keystone <\/p>\n

The Swiss financial sector is aware of the potential threat posed by the latest artificial intelligence (AI) frontier models, such as Anthropic\u2019s Mythos. But the authorities are unwilling to announce red alert until more is known about the technology.\n<\/p>\n

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May 1, 2026 – 09:00\n<\/p>\n

\"\"<\/p>\n

\n I write about the rapidly evolving artificial intelligence technology and its possible impacts on society.
\nOriginally from England, I spent some time at the BBC in London before moving to Switzerland to join SWI swissinfo.ch. <\/p>\n


\n More from this author <\/a><\/p>\n


\n English Department <\/a><\/p>\n

Mythos is\u00a0deemed so powerful that it has been held back from general release\u00a0by United States AI company Anthropic.\u00a0The model\u00a0is\u00a0reportedly\u00a0capable of swiftly spotting\u00a0previously undiscovered\u00a0IT bugs.\u00a0\u00a0<\/p>\n

This presents a double-edged sword.\u00a0The technology could help strengthen cyber defences by\u00a0highlighting weaknesses. But it also\u00a0raises\u00a0fears\u00a0that it could be used to unleash a wave of cyberattacks on critical infrastructure, such as financial systems.<\/p>\n

+ Cyberwar\u00a0attacks\u00a0heart of European infrastructure<\/a>\u00a0<\/p>\n

\u201cFrom today\u2019s perspective, the uncontrolled and immediate availability of AI models like Mythos would be classified as a systemic risk,\u201d the Swiss Financial Market Supervisory Authority (FINMA) told Swissinfo.ch.\u00a0<\/p>\n

\u201cIn such a scenario, virtually all existing software systems could be simultaneously affected by a multitude of previously unknown zero-day vulnerabilities, which would be exploited immediately using AI.\u201d\u00a0<\/p>\n

\u2018Project\u00a0Glasswing\u2019 available to few<\/p>\n

\u201cHowever, current indications suggest that these capabilities will be made available in a controlled and phased manner.\u201d\u00a0<\/p>\n

\u00a0Anthropic has limited\u00a0early\u00a0access to\u00a0Mythos to\u00a0a handful of\u00a0US\u00a0companies, such as Amazon Web Services, Microsoft, Nvidia, the Linux Foundation and JP Morgan. The select group of multinationals\u00a0in\u00a0the\u00a0\u2018Project Glasswing\u2019 initiative are testing Mythos on their own systems in a controlled environment.\u00a0<\/p>\n

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Swiss AI\n <\/p>\n

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Apr 22, 2025 <\/p>\n

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The US and Britain have reportedly convened emergency meetings of bankers and politicians to address their concerns about the risks posed by the technology. Financial executives\u00a0and regulators\u00a0from\u00a0many countries have expressed\u00a0concerns about the\u00a0reported power of Mythos.\u00a0\u00a0<\/p>\n

In Switzerland,\u00a0\u201cThere\u00a0have so far been\u00a0no special political or crisis meetings dedicated to Mythos or similar large language models,\u201d the Swiss Bankers Association (SBA) told Swissinfo.ch.\u00a0\u201cInstead, the topic is being addressed through existing structures that deal with cyber security and operational resilience.\u201d\u00a0<\/p>\n

The Swiss\u00a0National Cybersecurity Centre\u00a0(NCSC) is coordinating Switzerland\u2019s\u00a0response to Mythos and is currently making efforts to find out more about\u00a0the AI model\u00a0and Project Glasswing.\u00a0\u00a0\u00a0<\/p>\n

\u2018Dramatic portrayals\u2019\u00a0amid\u00a0real threats\u00a0<\/p>\n

The agency has\u00a0adopted a cautious approach amid suspicions that Anthropic is exaggerating the capabilities of its new product\u00a0ahead of a potential stock market listing. \u201cThe\u00a0sometimes dramatic\u00a0portrayals are also influenced by marketing,\u201d\u00a0the NCSC\u00a0told Swissinfo\u00a0in a written statement.\u00a0\u00a0<\/p>\n

A\u00a0full assessment\u00a0of Mythos\u00a0is impossible with so few technical details available about the tightly guarded AI model.\u00a0The NCSC\u00a0says\u00a0that AI\u00a0in general\u00a0is \u201cless of a game-changer in terms of new risks and more of an accelerator of existing threats\u201d.\u00a0<\/p>\n

Join the debate: <\/p>\n

\u201cCarrying out complex attacks will require fewer resources in future and will thus be accessible to a larger number of actors,\u201d\u00a0it\u00a0stated. \u201cAs a result, highly complex attacks that were previously only possible for attackers with substantial resources may occur more\u00a0frequently.\u201d\u00a0<\/p>\n

The\u00a0SBA is advising banks to double down on strengthening IT\u00a0and risk management systems while employing\u00a0robust oversight of AI models\u00a0used in operations. \u201cFrom our perspective, the threat is real, and a pure\u00a0\u2018wait-and-see\u2019\u00a0approach would not be sufficient,\u201d the SBA\u00a0said.\u00a0<\/p>\n

\u201cAdversaries can use AI to identify vulnerabilities and to develop exploitation techniques more efficiently. This expected increase in speed and complexity reinforces the need to continuously improve processes, maintain a high level of cyber awareness, and adjust tools and capabilities accordingly.\u201d\u00a0<\/p>\n

Europe\u00a0fears\u00a0US dominance on AI\u00a0<\/p>\n

European countries fear\u00a0being left behind as the US and China\u00a0harness the power of AI more effectively.\u00a0\u00a0<\/p>\n

Chris McGuire,\u00a0senior fellow for China and emerging technologies at the Council on Foreign Relations, a US foreign policy think-tank, applauds US efforts to tighten cyber defences and maintain a lead in AI.\u00a0\u00a0<\/p>\n

\u201cThese efforts are urgent because China will develop a model as capable as Mythos soon. China\u2019s best AI models currently lag behind leading US models by about seven months, potentially slightly more,\u201d\u00a0he wrote in the Financial Times.\u00a0<\/p>\n

Switzerland and other European countries are trying to close the gap by getting a seat at the table of Project Glasswing.\u00a0<\/p>\n

\u201cAll relevant institutions should have access to this technology to avoid distortions of competition,\u201d German central bank\u00a0president\u00a0Joachim Nagel\u00a0told the International Economic Symposium\u00a0in Rome last week.\u00a0<\/p>\n

His views are echoed by\u00a0Florian Tram\u00e8r, a professor of\u00a0cyber security at the Swiss federal\u00a0technology institute\u00a0ETH Zurich.<\/p>\n

\u201cAnthropic appears to be pursuing a highly US\u2011centric security logic, with Europe playing only a minor role,\u201d he wrote in an article published on the ETHZ website. \u201cModels of this kind are potentially relevant to national security,\u00a0intelligence services and the military. If access remains limited to US stakeholders, these stakeholders will have a head start for some time.\u201d\u00a0<\/p>\n

Switzerland\u2019s largest bank, UBS, declined to comment on Mythos.<\/p>\n

Edited by Veronica De Vore<\/p>\n

Articles in this story <\/p>\n","protected":false},"excerpt":{"rendered":"The jury is still out on whether Mythos will harm or help banks. Keystone The Swiss financial sector…\n","protected":false},"author":2,"featured_media":24226,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[6744,1673,3013,7006,309,7007,16509,16511,16510],"class_list":{"0":"post-24225","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-agi","8":"tag-agi","9":"tag-article","10":"tag-artificial-general-intelligence","11":"tag-beat-swiss-ai","12":"tag-business","13":"tag-financial-and-business-service","14":"tag-it-computer-sciences","15":"tag-production-type-original","16":"tag-technology-general"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/24225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/comments?post=24225"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/posts\/24225\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media\/24226"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/media?parent=24225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/categories?post=24225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ai\/wp-json\/wp\/v2\/tags?post=24225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}