G7 Finance Officials Plan Tabletop Exercises on AI Risks

The Group of Seven plans tabletop exercises on artificial intelligence risks, extending its cross-border cyber-preparedness work as digital finance creates more pathways for incidents to spread across institutions.

Japanese Finance Minister Satsuki Katayama said Oct. 16 that the G7 would conduct tabletop exercises addressing AI risks. The statement followed an Oct. 15 meeting in Bangkok of G7 finance ministers and central bank governors, held alongside the annual meetings of the International Monetary Fund and World Bank.

The plan builds on cross-border work by the G7 Cyber Expert Group. On May 18, the group completed a simulation of a large-scale cyberattack across G7 jurisdictions.

AI can speed the discovery and exploitation of vulnerabilities. Shared infrastructure and service providers can allow cyber incidents to spread among connected financial institutions. Cyber threats pose growing risks as financial services become more digital and interconnected.

No date has been announced for the new exercises.