NEW DELHI/MUMBAI: India’s largest banks are stepping up cyber defences, hiring, and insurance coverage as concerns grow that advanced AI systems could make cyberattacks faster and harder to contain, exposing gaps in preparedness and protection.
The pressure has risen after a finance ministry meeting with top banking executives on 23 April focused on banks’ preparedness for AI-linked cyber threats....
The narrative surrounding AI-driven cyber threats leverages fear of unprecedented disruption to drive immediate action among financial institutions. The core tension lies in the exponential increase in technical sophistication (e.g., malicious LLMs creating unknown threats) contrasted with the slow pace of institutional and market adaptation, particularly in talent and insurance coverage. The data points to a systemic failure where technological advancement has outpaced the development of necess...