Treasury Secretary Scott Bessent pursued a more active role in artificial intelligence policy earlier this year after financial institutions warned advanced models could leave critical infrastructure vulnerable \u2014 including the Federal Reserve payment rails that enable them to send money back and forth, people familiar with the talks told Semafor.<\/p>\n
Banks, whose leaders have long raised similar concerns, have been collaborating with the Treasury Department and Fed for years to develop other ways financial institutions could transfer funds in the event of a potentially disastrous outage. This spring, advanced models like Anthropic\u2019s Mythos ramped up the pressure.<\/p>\n
AI \u201cis something that I think about every day at Treasury, because of AI, the financial system and our responsibility of guiding the American economy,\u201d Bessent, who described himself as \u201cone of the point people on our AI policy,\u201d said at the Economic Club of New York this week.<\/p>\n
\u201cWe think about the implications, and we are trying to optimize a very difficult calculus, in terms of innovation and safety, to get the proper equilibrium to make sure that we can maintain our lead\u201d over China, Bessent added.<\/p>\n
The former hedge fund manager huddled with the Fed\u2019s then-chair, Jerome Powell, and the CEOs of systemically important banks in April to discuss the risks posed<\/a> by Anthropic\u2019s Mythos.<\/p>\n He\u2019s spent the months<\/a> since steering the Trump administration away from a hands-off approach, helping mold an executive order that established a voluntary review process for advanced models (and gave Treasury ownership<\/a> of a new cyber clearinghouse).<\/p>\n The Fed referred a request for comment to Treasury. Treasury did not comment.<\/p>\n Anthropic is currently in talks with the Trump administration on how to bring Mythos \u2014 and its consumer equivalent, Fable \u2014 back online after the Commerce Department imposed export controls amid national security concerns. Those negotiations could delay implementation of the executive order.<\/p>\n","protected":false},"excerpt":{"rendered":"Treasury Secretary Scott Bessent pursued a more active role in artificial intelligence policy earlier this year after financial…\n","protected":false},"author":2,"featured_media":728447,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[182,181,507,74],"class_list":["post-728446","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/728446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=728446"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/728446\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/728447"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=728446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=728446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=728446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}