Mythos has thrown global financial elites into panic and confusion; Governor of the Bank of England: What did I do wrong in my past life?

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War and historic energy shocks have already placed an unbearable weight on global financial stability. However, Anthropic’s unreleased AI model Mythos has added another layer of unease for global policymakers.

According to media reports, at the IMF and World Bank Spring Meetings, military conflict in the Middle East dominated the agenda. Governments were forced to restart crisis response plans, promising to coordinate and cooperate as much as possible, and employing fiscal and monetary tools to boost consumption. When it comes to Mythos, attendees had far more questions than answers.

European Central Bank President Christine Lagarde said in a media interview on Tuesday that the consequences would be unthinkable if it fell into the wrong hands. She was referring to the destructive potential of Mythos, echoing the concerns of other central bankers, finance ministers, regulators, and leaders of investment institutions, all urgently seeking information about potential threats and protection measures.

The issue was thrust into the public spotlight by a Bloomberg News report: U.S. Treasury Secretary Scott Besant convened Wall Street leaders to issue a warning about an imminent AI model that could usher in a new era of autonomous robot cybersecurity attacks. On Wednesday, Besant said, “I am confident everyone has now reached consensus and is working in the same direction, building resilience together.”

Outside the United States, the sense of urgency conveyed at the meeting ignited high alert among senior officials and bankers globally. They worry the technology could break through traditional cyber defenses, exposing the financial system to unpredictable threats.

Bank of England Governor Andrew Bailey said earlier this week at an event at Columbia University in New York, “Logically, the situation in the Gulf should be the latest challenge we are facing. Until you wake up and realize that Anthropic may have found a way to pry open the entire world of cyber risk, then you think: what did I do wrong in my last life?”

Bailey and other top experts in financial stability face a dilemma: their understanding of these threats remains limited, and they cannot assess how far Mythos advances the cyber risks they have been warning about for years. Many questions remain unanswered:

Will Mythos trigger mass theft from bank accounts, a total paralysis of international payment systems, or even a confidence crisis that shakes the foundations of the financial system?

Is this similar to the risks posed by quantum computing—a known threat under thorough study by regulators—or does it require an entirely new response?

To what extent San Francisco-based Anthropic shares Mythos’ details and access with non-U.S. officials and banks is unclear. An American executive running a European bank said Anthropic has promised to provide them with a briefing. Restricted access may leave some parts of the world's financial system unable to follow IMF advice on staying ahead of cyber threats.

Canadian Finance Minister François-Philippe Champagne said Mythos warrants full attention. He hopes to discuss the matter with international peers. “We have common interests and must ensure the resilience of the financial system.”

According to media reports, the U.S. Treasury’s technology team is seeking access to Anthropic’s Mythos AI model to investigate potential vulnerabilities.

The New York Fed is the global hub for financial transactions and stability risk regulation. New York Fed President John Williams said Thursday that recent technological advances have fully demonstrated these AI tools’ powerful capabilities—whether identifying vulnerabilities or exploiting them—and their development is much faster than many expected.

According to media sources, the G7 finance ministers meeting on Wednesday discussed establishing an international institutional framework for AI governance. The consensus: no single country can tackle the risks posed by Mythos alone. One source added that given exponentially growing risks and potentially severe consequences, attendees broadly supported deeper exploration of this issue, though the specific path remains unclear.

Making matters worse, this doomsday AI scenario coincides with sharply rising geopolitical risks. Technology’s role would shift from being an engine for improving financial sector efficiency to a weapon for destroying its technical infrastructure.

Industry insiders point out that frontier AI capabilities are advancing faster than the frameworks designed to govern them. Before these models are deeply embedded in finance and other critical systems, building guardrails is a real imperative.

Media analysts say this week’s search for answers highlights the gulf between the “haves” and “have-nots” in AI, and the increasing fragmentation of the global financial stability ecosystem. Europe’s worries about reliance on foreign tech firms are mounting.

Officials privately express deep concern about the “each fighting for themselves” tendency spreading through global financial dialogues, believing it will hinder the effective sharing of risk information worldwide. Several European officials said they would use this week’s meetings to urge their American counterparts to share information as much as possible.

Swedish Finance Minister Elisabeth Svantesson said there will be a warning meeting with central bank governors and finance ministers later Thursday, with AI among the topics. “My message is: AI is wonderful, but unpredictable leadership combined with AI is dangerous. The wars and uncertainties in America and Israel, and cyber threats, are the dominant issues right now.”

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