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India's Chief Economic Adviser V. Anantha Nageswaran urged financial institutions to prioritize AI safety and security as adoption accelerates. Speaking at a fintech event in New Delhi, he warned that waiting for AI-related risks to materialize could be costly, emphasizing the need for early safeguards in the sector.[AI generated]
Why's our monitor labelling this an incident or hazard?
The article discusses plausible future harms from AI systems in financial institutions, such as AI agents hacking other AI systems, which could lead to cybersecurity breaches. Since no actual breach or harm is confirmed as having occurred, but the risk is credible and emerging, this fits the definition of an AI Hazard. The event is about potential threats and the need for preventive measures, not about a realized incident or harm.[AI generated]