Banks prepare for new challenges amid ascent of AI
NEW DELHI/MUMBAI, May 20 -- India's largest banks are stepping up cyber defences, hiring, and insurance coverage as concerns grow that advanced artificial intelligence (AI) systems could make cyberattacks faster and harder to contain.
The pressure has risen after finance ministry officials met top banking executives on 23 April to discuss banks' preparedness for AI-linked cyber threats. The meeting came weeks after Anthropic unveiled Claude Mythos, a frontier AI model the company said could identify vulnerabilities and potentially aid cyberattacks at unprecedented speed.
HDFC Bank, India's largest private lender, said it reviews cyber insurance annually and is now widening coverage as risks evolve. "The bank is continuously strengthening it...
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