Britain's Banking Sector Urged to Create Its Own Artificial Intelligence

Dependence on American technologies is becoming an increasingly serious problem for the UK banking sector. As a result, discussions have intensified in the country about the necessity of creating its own digital infrastructure and artificial intelligence models.

Harriet Rice, an adviser to the UK Treasury and Chief Information Officer at Starling Bank, states that the country must act quickly in this direction and pay greater attention to developing local expertise and technological capabilities.

Her call came after British banks were restricted from accessing the latest model Mythos from American company Anthropic. This model is considered one of the most effective means of identifying cybersecurity vulnerabilities and helps banks protect their own systems.

Access to this technology is currently available primarily to American banks and their British subsidiaries. According to Rice's assessment, Britain should reduce its dependence on US technology companies; otherwise, it risks losing competitive advantage in the financial sector.

Source: Investing.com