European Central Bank

Headlines · 5

1. 2d
   Draghi: AI-driven productivity can help stabilize US debt if deficits are curbed

   Former European Central Bank president Mario Draghi said the United States would not need to make an extraordinary effort to stabilize its debt if its politicians can agree on cutting the deficit. He said keeping the debt-to-GDP ratio at around 100% a decade from now requires only a modest productivity increase, with artificial intelligence driving expansion in the world's largest economy. Everything looks feasible, he added, on one condition: the US fiscal deficit must not keep widening. (Via 36Kr, citing Sina Finance)

   36氪快讯 · 🔥 3
2. 3d
   BofA hired 1,000 contractors to patch flaws exposed by Anthropic's Mythos

   Bank of America CEO Brian Moynihan said the bank brought in about 1,000 outside contractors in the second quarter to work alongside roughly 3,000 internal staff on software weaknesses exposed by frontier AI models including Anthropic's Mythos, affecting both the bank's own code and that of its vendors. He said third-quarter spending on the remediation and on anti-money-laundering fixes came to "a couple hundred million dollars plus," and that the contractors were engaged as consultants and are not counted in headcount. According to CNBC, Anthropic made Mythos available in April through a programme called Project Glasswing to a small group of companies, banks and government agencies so they could find and patch flaws before attackers did; a month later US regulators paused some cyber exams. The bank also said savings from about 130 internal AI projects are expected to grow from roughly $300 million this year to $700 million next year.

   CNBC Technology · 🔥 11
3. 3d
   ECB's Lane: AI may weaken euro-area workers' wage bargaining power

   European Central Bank chief economist Philip Lane said in a Dublin speech on October 13 that wider AI adoption by euro-area firms could displace some workers, further weakening their bargaining power, dampening wage growth and reducing labour's share of total income, according to Reuters. He said AI has not yet changed overall employment trends, but weak hiring intentions make it harder for workers to recoup losses from high inflation through pay demands — possibly one reason inflation remains elevated while wage growth is slowing. Lane also said heavy global corporate borrowing to fund AI investment has pushed up overall borrowing costs, feeding into euro-area bond markets and higher long-term rates, noticeably tightening financial conditions; over the longer term, however, AI could raise potential output and trend growth, which he said is especially valuable for Europe given its expected shrinking working-age population.

   IT之家 AI · 🔥 0
4. 4d
   US, European regulators quiz banks on AI agents and cyber risk

   Reuters, citing six people familiar with the matter, reports that the US Federal Reserve and two other bank regulators are questioning banks about their use of advanced AI, including whether they rely on Chinese-built technology, use AI agents for cyber defence, and can control systems that act on their own. Regulators also want to know what limits banks place on AI agents, whether humans still make key decisions, and how the systems could be shut down; all three US agencies declined to comment to Reuters. In Europe, the Bank of England and the European Central Bank are pushing banks to improve recovery plans for attacks, with the ECB giving lenders until the end of October to produce plans against AI-enabled cyber threats and to map AI use, including through outside suppliers. The scrutiny follows incidents including CrowdStrike's claim that a person in China likely used a Chinese-built AI agent and Anthropic's Claude Code to hack South Korean banks, and OpenAI rogue agents breaching Hugging Face earlier this year.

   Techmeme · 🔥 0
5. 7d
   Turing Institute chief: UK can't rely on foreign AI that could be switched off

   George Williamson, the new head of the UK's Alan Turing Institute, told The Guardian that Britain should not depend solely on systems it "can't inspect or control, or that could be restricted or even switched off," citing defence, national security, critical infrastructure and healthcare. His warning follows Washington's move in June to temporarily block foreign access to Anthropic's top models. Williamson said the UK should have AI it does not need anyone's permission to use, that the institute cannot match frontier labs' budgets but can build smaller, nationally owned models for start-ups, and that "national resilience" will now be its main focus. He also said he has not seen convincing evidence behind some industry-quoted figures on AI wiping out humanity.

   The Next Web · 🔥 0

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