What happened at Bessent-Powell talks? 7 key takeaways from urgent DC meet | Hindustan Times

US Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell convened an urgent meeting with top Wall Street executives in Washington, warning of significant cybersecurity risks linked to a powerful new artificial intelligence model.A Bloomberg report described the talks as a response to fears that Anthropic’s latest AI model could “usher in an era of greater cyber risk.”Additional reporting by Reuters and The Guardian provided further details on the closed-door discussion.Here are 7 key takeaways from the meeting:1. Regulators issued an urgent warningAccording to Reuters, Bessent and Powell convened CEOs of major US banks in Washington to warn about risks linked to Anthropic’s newly launched “Mythos” model. The aim was to ensure institutions are aware of the threat and are strengthening defenses.2. Focus beyond traditional financeUnlike typical high-level discussions centered on inflation or interest rates, this meeting focused on emerging technological risks.3. Mythos model capabilities raise alarmReuters reported that Anthropic said the model can identify and exploit weaknesses across “every major operating system and every major web browser." 4. Previously undetected flaws uncoveredThe Guardian noted that the model has already exposed thousands of software vulnerabilities, some dating back decades and previously unnoticed, raising concerns about how such tools could be misused.Also Read: US signals U-turn on Iran sanctions, may free stranded oil tankers, says treasury secy Bessent5. Limited accessAnthropic has restricted the model’s release to a select group of companies.6. Risks extend to financial stabilityThe Guardian reported that leaders of systemically important banks attended the talks, indicating fears that any disruption caused by such AI-driven cyber threats could impact the broader financial system.Also Read: US has 'plenty' of funds for Iran war, but seeks more from Congress, says US treasury secy7. Coordination between government and banksReuters said Anthropic had already briefed US officials on the model’s “offensive and defensive cyber capabilities".It is to note that no official statements have been issued yet, since the talks.