Two years after our first report on the topic, we return to cyber security. The widespread adoption of artificial intelligence is changing the landscape, raising the threat level. AI has not only enabled more attacks, it has provided tools to devise new ways to attack. Such incursions can be more severe. As the Global Cybersecurity Outlook 2026 from the World Economic Forum says: AI means there are additional vectors for more potent attacks. 

A prime example of the effect of AI on cyber security is Anthropic’s decision in April not to publicly release its Claude Mythos large language model which, in tests, found thousands of vulnerabilities in everyday operating systems and browsers. The company has created Project Glasswing to use Mythos privately, with vetted partners, to devise and employ defences against any similar AI that could be developed by “cyber threat actors”.  

The corporate world is worried — and it is right to be

Although cyber risk currently trails geopolitical risk as most businesses’ top concern, the Bank of England systemic risk report for the second half of 2025 said 86 per cent of companies put cyber risk in their top five risks, up from 72 per cent since the first-half report.