OSFI sees multiple risks growing for financial institutions
Frontier AI – the most advanced models currently available – sits at the centre of that assessment. The time between discovering a vulnerability and exploiting it has shortened, the regulator said.
“Frontier AI models can locate and exploit more vulnerabilities, enabling adversaries to launch coordinated, large-scale attacks across systems, applications, and third-party ecosystems,” the report said.
OSFI also flagged that a handful of providers, many based outside Canada, dominate frontier AI and cloud infrastructure, raising the risk of correlated outages.
“In an era of advancing AI capabilities, resilience is a competitive advantage,” said Peter Routledge, Superintendent of Financial Institutions.
“Financial institutions that harness AI responsibly while managing cyber, technology, and third-party risks will position themselves to thrive in a complex environment.”