The Indian Banks’ Association (IBA) has constituted a sub-committee to examine the need for and modalities of setting up a regulatory sandbox that would allow banks to test their models against Mythos, a senior official said.
The sub-committee has been formed under the IBA’s working committee, headed by State Bank of India Chairman CS Setty. The industry body is also in discussions with the Institute for Development and Research in Banking Technology, established by the Reserve Bank of India, on the proposed framework.
Mythos is one of Anthropic’s latest models developed as part of its broader AI system called Claude. It can locate vulnerabilities in the system and easily exploit those.
The IBA’s initiative comes as banks increasingly look to deploy technology and new models in their operations, creating a need for controlled environments where such models can be tested before wider implementation. The panel will examine whether such a sandbox is required, and if so, how it can be structured to enable banks to test their models in a controlled setting.