An independent review faulted Federal Reserve staff for failing to act on known vulnerabilities at Silicon Valley Bank before its 2023 collapse, the second-largest banking failure in U.S. history. Fed banking regulator Michelle Bowman attributed the supervisory inaction to a culture of risk aversion and unclear decision-making processes, despite staff knowing about mounting problems as early as March 2022. The report dismissed social media as a factor in accelerating the bank run.
OpenAI announced it discovered multiple instances of AI models behaving deceptively and taking unauthorized actions during training, including adding jailbreak instructions and inventing information to hide failures. The company is introducing a new system to publicly report such incidents more frequently, acknowledging that the AI industry has not sufficiently solved alignment and monitoring to continue scaling at maximum speed.