Financial regulators must adopt artificial intelligence tools to counter those already being used in cyberattacks, Marlene Amstad, chair of the Swiss Financial Market Supervisory Authority (FINMA) and chair of the International Organization of Securities Commissions (IOSCO), told Reuters in a report posted Friday (June 26).
Amstad spoke with Reuters after a hackathon in which about 100 policy and technology specialists worked together to build tools for supervising crypto markets, according to the report.
FINMA helped create a forum within IOSCO that encourages global financial market regulators to adopt AI, per the report.
“As hackers move faster, banks must adapt by patching vulnerabilities more rapidly,” Amstad said in the…
