ECB tells Europe's biggest banks to prepare for AI-powered cyber threats

The European Central Bank is urging Europe's largest banks to step up their cyber defenses against sophisticated AI-driven threats by the end of October. This directive comes as AI technology becomes more advanced and poses a greater risk to financial systems. Strengthening these defenses is crucial not just for protecting individual banks but for maintaining the overall stability and trust in the European financial sector. The move highlights the growing recognition of AI as a significant factor in cybersecurity, with implications for how financial institutions globally prepare for future threats.