ESAs - Call for enhanced governance and consistent supervision to mitigate ICT risks from frontier AI models in the EU financial sector
The ESAs published a statement calling for a cross-sectoral, risk-based and consistent supervisory approach to mitigate the ICT risks stemming from frontier AI models.
The ESAs outline measures to help financial entities strengthen their operational resilience against cyber risks linked to frontier AI models. Particular emphasis is placed on the prevention, detection and management of these risks.
The statement underlines that financial entities should have robust governance and risk management frameworks in place to support the effective management and mitigation of cyber risks associated with frontier AI models. It also updates on ongoing and planned DORA oversight activities for critical ICT third-party providers (CTPPs) to address this risk
