On Oct. 16, Japanese Finance Minister Satsuki Katayama said the Group of Seven (G7) intends to stage tabletop drills on artificial intelligence risks amid the growing digitization and linkage of financial services.
Finance ministers and central bank governors from the G7 met in Bangkok on Oct. 15, the day before Katayama announced the exercise plan. AI can shorten the path from finding a vulnerability to exploiting it, and reliance on common infrastructure or providers can let an incident reach multiple financial institutions.
The G7 Cyber Expert Group completed a simulation on May 18 built around a large-scale cyberattack spanning G7 jurisdictions. Officials have not announced a date for the new drills.
