The ECB plans to write to bank CEOs on preparedness for AI-driven attacks and is urging a global governance framework similar to nuclear non-proliferation accords.
ECB President Christine Lagarde said on June 17 that artificial intelligence could create market turmoil severe enough to contribute to a financial crisis, while stressing that the European Central Bank is working to prevent that outcome. She said the ECB will write to bank CEOs to make sure they are prepared for AI-related attacks and resilient enough to manage the risks. Lagarde also called for a global AI governance framework, comparing the need for coordination to nuclear non-proliferation accords, a sign that policymakers are increasingly treating AI as a cross-border financial stability issue rather than only a technology or cybersecurity concern.