News Summary

• The UK government, the UK's Financial Conduct Authority (FCA) and Bank of England have said.
• The trio warned that the sector must put in place “effective protective, detective, threat containment and cyber-response capabilities” “The cyber capabilities of current frontier AI models are already exceeding what a skilled practitioner could achieve, and at a significantly higher speed, greater scale, and lower cost,” the trio said in a May 15 missive.
• The government and UK financial authorities will continue to actively monitor frontier AI developments and engage with industry through the Cross Market Operational Resilience Group (CMORG), it concluded.