Indian Fintechs Seek Access to Anthropic's AI Model Mythos

India's Fintech Firms Push for Early Access to AI Model Amid Cybersecurity Fears

In a move that reflects growing concerns about the potential risks of artificial intelligence, India's major financial technology firms are pressing Anthropic PBC to grant them early access to Mythos, a cutting-edge AI model that has sparked global fears about a new era of cyberattacks.

One97 Communications Ltd., Razorpay Software Ltd., and Pine Labs Ltd. are among the Indian companies that have requested access to Mythos, following Anthropic's announcement of a limited roll-out of the large-language model. The company considers Mythos too dangerous to release more widely, prompting concerns that only a select few will have the opportunity to test and detect vulnerabilities on their own systems.

According to Vijay Shekhar Sharma, founder and chief executive of One97, Anthropic representatives have been questioning the companies about what they would do with Mythos and how it could help them. This suggests that Anthropic is taking a cautious approach to releasing the technology, weighing the potential risks and benefits of granting access.

The push among Indian firms to win access to Mythos reflects fears across the world. Regulators, central bankers, and executives have been on high alert since it emerged that Mythos can discover cybersecurity vulnerabilities that have gone undetected for years. This has raised concerns about the potential for mass looting of bank accounts, paralysis of international payment systems, and even a full-blown crisis in the global financial system.

| Company | Access to Mythos | | --- | --- | | Amazon Web Services Inc. | Yes | | Apple Inc. | Yes | | JPMorgan Chase & Co. | Yes | | One97 Communications Ltd. | Requested | | Razorpay Software Ltd. | Requested | | Pine Labs Ltd. | Requested |

Anthropic has already stress-tested Mythos internally and extended access to a select group of companies, including Amazon Web Services Inc., Apple Inc., and JPMorgan Chase & Co. The company is looking to cautiously expand access through a program called Project Glasswing. However, the move has sent tremors through global financial circles, with US Treasury Secretary Scott Bessent calling the model "a step function change in abilities" and European Central Bank President Christine Lagarde warning about the risks if Mythos fell into the wrong hands.

Security teams are working overtime at Razorpay, a company whose platform businesses use to collect payments through credit and debit cards, online banking, and electronic wallets. Razorpay's cofounder and chief executive officer Harshil Mathur said that the company has asked for Mythos access to test the weaknesses on their platform and strengthen their defenses.

India is home to millions of engineers who write code for Wall Street banks, insurers, and credit card giants. The country has become the second-largest market for Anthropic's Claude model, with coders mainly using it for building apps, debugging software, and modernizing IT systems. As a result, regulators will likely push for more stringent security norms to mitigate the threat of increased attacks, said Pine Labs' Chief Executive Officer Amrish Rau.

"Security can't be a compliance checkbox anymore," Rau emphasized.