The US Treasury has issued a report under Executive Order 14110, highlighting AI’s cybersecurity risks to the financial sector and offering recommendations for risk mitigation. It notes that advanced AI tools, including generative AI, may initially advantage cyber threat actors by enhancing attack sophistication and lowering entry barriers. The report identifies specific AI threats like vulnerability discovery and the use of deepfakes for fraud. It also points out that current risk management frameworks might not fully cover new AI technologies, stressing the importance of addressing AI system vulnerabilities, data handling, and third-party dependencies.

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