The Finance Ministry has sought assistance from Infosys to help identify risks and challenges associated with Mythos AI, according to sources aware of the development. Sources said personnel from the Bengaluru-based IT major have been deployed to the Indian Banks' Association (IBA) to provide training and guidance to bankers.
The Ministry of Electronics and Information Technology (MeitY) is also working with technology companies such as Microsoft to ensure that bankers receive hands-on training and exposure to emerging artificial intelligence tools.
"We have deployed two officials from Infosys at the IBA to address the challenges and provide proper training. MeitY is also working with technology giants such as Microsoft to ensure hands-on training on Mythos and other AI models," sources said.
The move is part of the government's broader push to accelerate the adoption of AI while identifying potential risks across the financial sector and improving operational efficiency.
Finance Minister Nirmala Sitharaman had previously described Mythos as "a new challenge" for the financial system. Mythos is a frontier AI model developed by US-based artificial intelligence company Anthropic. There have been growing concerns among bankers and financial institutions that advanced AI models could pose risks to the security and integrity of financial systems.
In April, the Finance Minister held a high-level meeting with the heads of several banks to discuss risks related to artificial intelligence amid rising global concerns over the implications of Anthropic's Mythos model for data security in the financial sector.
According to media reports, the Reserve Bank of India (RBI) has asked banks and other regulated entities to undertake a board-approved gap assessment and subsequently prepare a time-bound action plan to address risks arising from frontier AI models such as Claude Mythos.
Sitharaman has also urged the IBA to establish a unified institutional mechanism to address challenges arising from such AI models.