Goldman Sachs (GS), a major U.S.-based investment bank, has teamed up with Anthropic, the company behind Claude AI, as concerns rise about the risks posed by its latest artificial intelligence (AI) model, Mythos. The bank said it is monitoring the model’s capabilities and its potential impact on cybersecurity in the financial sector. Major financial institutions, as well as the U.S. government, are bothered about the potential risks this new, powerful AI model might bring to the financial sector.
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Goldman Sachs Responds to Mythos AI Risks
David Solomon, the CEO of Goldman Sachs, said the company is “hyper-aware” of the risks linked to the capabilities of Anthropic’s new AI model, Mythos. He mentioned that the bank is working closely with Anthropic and other partners to better understand and manage these risks.
Notably, the bank is also increasing its investment in cybersecurity and infrastructure to stay protected against threats. This is because many AI models are becoming more powerful, making it easier to find loopholes in computer systems that fraudsters and hackers might exploit.
Mythos AI Raises Cybersecurity Concerns in the Financial Sector
Anthropic said its Mythos model can detect software weaknesses faster than most humans. The company also mentioned that, in some cases, the AI model can carry out complex cyberattacks that would normally take experts several days to execute. As a result, most financial institutions now believe that the model could cause major disruption to their operations and, consequently, put financial stability at risk.
Governments and regulators are now paying attention to Anthropic’s AI model in order to mitigate any risks that might arise from the tool. Regulators such as the U.S. Treasury and the U.K.’s AI Security Institute (AISI) are already studying the new model, its potential risks, and how to handle them.
Is GS a Good Buy Now?
Wall Street analysts tracked by TipRanks rate Goldman Sachs Group (GS) a “Moderate Buy.” Out of 12 analysts, 6 rate it a Buy, 5 a Hold, and 1 a Sell. The stock is expected to reach a price target of $979, with a roughly 8% upside potential. For more information on the stock’s performance, ratings, and price targets, visit the TipRanks Stocks Comparison Center.
