Public sector banks in India are boosting IT spending to strengthen cybersecurity and protect customer data and funds, amid concerns about Anthropic’s Mythos AI driving faster, more capable cyber threats.

Industry experts warn Mythos accelerates the exploit window to under 72 hours, pushing banks to move from cost of running to cost of surviving with aggressive IT modernization and proactive threat mitigation.

Regulators view Mythos as a major challenge to banking infrastructure due to the high interconnectivity of payments, markets, and clearing systems, raising systemic risk from a single breach.

The path forward for Punjab & Sind Bank and UCO Bank is to implement comprehensive IT upgrades and modernize core systems to withstand AI-driven cyber threats.

The threat landscape is tightening, with the gap between vulnerability discovery and exploitation shrinking dramatically, underscoring urgency for robust defenses.

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Mythos demonstrated strong cybersecurity capabilities during pilot tests, uncovering thousands of high-severity vulnerabilities across major OSes and browsers and sharing access with 12 tech companies via Project Glasswing.

From an investor perspective, banks that invest in digital and cybersecurity may see valuation support, while those lagging with older systems could face downside pressure.

Regulators emphasize real-time threat detection and stronger cybersecurity governance to mitigate risk from AI-driven threats, given banks’ interconnected ecosystems.

Industry experts warn that Mythos compresses the patching cycle, reinforcing a shift from “cost of running” to “cost of surviving” IT investments and elevating urgency for proactive defenses.

Srinivas L. of 63SATS Cybertech notes that AI like Mythos shortens exploit timelines, challenging traditional response and patch management.

A government panel chaired by SBI’s C S Setty is assessing Mythos-related risks and guiding mitigation strategies, with banks discussing additional investments.