Global firms race to patch systems as AI risks mount: Citigroup CEO

Global firms race to defend against AI with 'tsunami of patching'

New Delhi, Sep 21

At the Qatar Economic Forum in New York, Fraser said firms worldwide were engaged in a "tsunami of patching" to shore up systems against the release of advanced models such as Anthropic's Mythos, according to multiple reports.

As for the development of the technology, the difficulty has shifted from chip production to energy demand to power AI, Fraser said.

Fraser further stated that Mythos' release was "not a good day" for such companies marking a worrying step in the evolution of AI.

The model prompted US officials, including Treasury Secretary Scott Bessent and then‑Federal Reserve Chair Jerome Powell, to summon Wall Street leaders to urge firms to prepare for more capable AI systems, Fraser said.

AI from companies, including Google and Anthropic, has inadvertently hacked into other companies since the beginning of 2026. prompting warnings from executives including Anthropic's Dario Amodei to slow the pace of AI development.

Amodei said that his firm would implement new safety steps such as third-party evaluators.

Anthropic employee Jacob Coxon resigned from his role earlier this month, putting spotlight on the risks of AI. It raised concerns that advanced AI researchers believe that the technology could cause an existential catastrophe by the end of the decade.

Industry executives such as Nvidia's Jensen Huang dismissed such concerns. He urged companies to quicken AI development while retaining responsibility for product safety, saying firms should not release systems that are not ready or safe.

Goldman Sachs Group CEO David Solomon, at the Qatar Economic Forum, called on technology executives to "take a deep breath, slow down." He expressed "high confidence that humanity will be here and that we'll all be participating actively."

— IANS