As authorities across the world come to terms with the threat posed by Anthropic’s Mythos, Indian banks are gearing up to hold threadbare discussions and explore if they need to make more investments to deal with this “AI-born challenge”, Finance Minister Nirmala Sitharaman said Friday. These combined efforts of Indian banks will be led by State Bank of India Chairman CS Setty in his capacity as the head of the Indian Banks’ Association (IBA).

“Actively now, the banks have been told to work together. As Chairman IBA, Chairman and CMD of State Bank of India will be leading that effort. In the coming weeks, there will be a lot of interaction within the banks, understanding where more investments will have to be made, what kind of technologies can come in, how AI itself can be used for countering this AI-born challenge.…