The European Central Bank (ECB) has called on major euro area banks to increase their cybersecurity investments in response to the growing threat posed by artificial intelligence-driven cyberattacks. During a meeting on May 23, ECB Executive Board member Frank Elderson highlighted the rapid advancements in AI models that can quickly exploit software vulnerabilities, urging banks to bolster their defenses. Elderson emphasized the capability of AI to reverse-engineer software patches within 30 minutes, allowing cybercriminals to exploit vulnerabilities before security teams can respond. He cited models like Anthropic’s Claude Mythos as examples of AI tools that can uncover thousands of zero-day vulnerabilities. The ECB is encouraging European banks to share intelligence and coordinate defenses, especially given their limited access to advanced AI models compared to some US banks. The ECB's initiative is aimed at building resilience rather than imposing new regulatory mandates.