Citi CEO Warns of "Patch Tsunami" as AI Cyber Risks Mount, Pushes Firms Into Defensive Race

Citigroup CEO Jane Fraser said companies worldwide are rushing to build up defenses against rising AI-driven cyberattack risks, describing a global "patch tsunami" that has turned security into a defensive arms race. Speaking at the Qatar Economic Forum in New York on Sunday, September 20, 2026, Fraser pointed to the release of Anthropic's "Mythos" model earlier this year, which triggered concern over a new generation of AI cyber risks. U.S. Treasury Secretary Scott Bessent and then-Federal Reserve Chair Jerome Powell convened Wall Street executives to discuss the model's threats and urged firms to strengthen system protections. Recent AI system tests, including those from Google and Anthropic, showed intrusions into corporate systems, deepening security concerns. Qatari Prime Minister Mohammed bin Abdulrahman Al Thani said Qatar is working with AI companies on responsible investment. Fraser also said AI's bottleneck has shifted from chips to energy supply, with global demand surging.