Speaking in Colorado, Bowman used prepared remarks to lay out a two-sided message on AI and bank security: the tools can fortify defenses, and they can arm attackers. As she put it, "AI is becoming a critical component of these security measures as both a defensive tool and an evolving risk."
Bowman said the first line of defense is basic but rigorous cyber hygiene. That includes keeping asset inventories up to date, using multifactor authentication that resists phishing, enforcing strong identity and access controls, and running robust programs to find vulnerabilities and apply patches promptly. She also emphasized that bank boards and senior leaders need to actively manage these risks.
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Bowman acknowledged that staying ahead of these threats can be heavy lifting for community banks. She said supervisors continue to tailor IT exams based on each institution's risk profile and the latest threat landscape. Bowman previously said the Fed should "not micromanage" banks on issues like AI. Earlier this year, Bloomberg reported that regulators temporarily put certain cyber-related examinations on hold so banks had time to strengthen their systems in light of threats revealed by the latest AI models.
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