German central bank chief Joachim Nagel is urging broad access to Anthropic's powerful artificial intelligence model, Mythos. Nagel believes that all institutions should have access to the AI to ensure a level playing field and prevent its misuse.
Speaking in Rome, Nagel highlighted that Mythos possesses the capability to identify and exploit security vulnerabilities in financial institutions' software, posing sophisticated cyber risks. He described the AI as a "double-edged sword," capable of enhancing digital security but also of leveraging weaknesses for malicious purposes.
Experts note Mythos's advanced coding abilities allow it to pinpoint cybersecurity flaws at an unprecedented scale, drawing global regulatory attention. Anthropic has provided preview access to a limited group of companies and critical infrastructure organizations, fueling demands for wider availability.
Nagel also expressed skepticism about AI's potential to reduce inflation, suggesting it could increase investment demand, raise incomes, and elevate electricity prices, thereby exacerbating inflationary pressures. He warned that algorithms might facilitate price-setting above competitive levels, advising central banks to maintain vigilance.