Key facts
- FINMA President Marlene Amstad urged rapid adoption of new technologies.
- The adoption is needed to counter escalating cybersecurity risks.
- AI is seen as amplifying cybersecurity risks.
- FINMA participated in a recent hackathon.
- The hackathon aimed to develop AI tools for market supervision.
- A focus was embedding safeguards into digital asset systems.
FINMA President Marlene Amstad has called for financial regulators and banks to accelerate the adoption of new technologies, particularly artificial intelligence (AI), to effectively counter escalating cybersecurity risks. Amstad emphasized that the rapid advancement of AI amplifies these cyber threats, making swift technological integration a necessity for the financial sector. In line with this push, FINMA recently participated in a hackathon. The event's primary objective was to develop AI-powered tools designed to enhance market supervision capabilities. A key focus of the hackathon was the embedding of robust safeguards directly into digital asset systems, aiming to preemptively address potential vulnerabilities. This initiative underscores FINMA's commitment to leveraging cutting-edge technology to maintain financial stability and security in an increasingly digital and AI-influenced environment.