SARB warns that the threat of systemic cyber incidents has heightened due to AI [SOUND]

# The South African Reserve Bank warns that advances in artificial intelligence models pose risks to financial stability, and have led to a significant increase in software and IT system vulnerability. The Reserve Bank’s latest half-yearly financial stability review shows that a sophisticated multistep attack that previously required scarce, elite human expertise can now be attempted for just approximately one-thousand-303-rand. SARB’s Herco Steyn says cyber risk has shifted from episodic and largely manageable events to continuous and compounding: