- 1. OMB denies federal agencies Mythos AI access due to security risks, per Nextgov/FCW.
- 2. Crypto Fear & Greed Index at 26 shows extreme fear on October 10, 2024.
- 3. Bitcoin reaches $77,293 USD (up 3.5%), Ethereum $2,418.67 (up 3.8%).
The Office of Management and Budget (OMB) blocks federal agencies from using Mythos AI. An OMB official confirmed the denial to Nextgov/FCW. Security risks in the tool triggered this decision.
The Crypto Fear & Greed Index dropped to 26 on October 10, 2024. Alternative.me tracks this index from 0 (extreme fear) to 100 (extreme greed). A score of 26 shows high fear. Investors link AI scrutiny to tech market worries. Bitcoin traded at $77,293 USD that day. It rose 3.5%, per Alternative.me data.
OMB Guides Federal AI Policy
OMB oversees federal budgets and policies. It reviews AI tools for safety. Agencies cannot adopt them without approval. This step protects taxpayer data and national security.
The White House's 2023 Executive Order on AI sets these rules. It demands secure AI development. OMB enforces the order government-wide, per the White House website.
Mythos AI Explained
Mythos AI manages enterprise tasks with machine learning. It processes text, images, and code. Developers based it on transformer models. These models drive tools like ChatGPT.
Mythos trains on huge datasets. This produces reliable outputs. Federal agencies wanted it for fast data analysis. But security flaws stopped its rollout.
Reasons for OMB's Mythos AI Denial
OMB found risks like data poisoning. Hackers add tainted data to training sets. This tricks the AI into wrong answers.
Prompt injection is another threat. Attackers slip harmful commands into user inputs. Past attacks like SolarWinds in 2020 hit federal systems.
OMB requires red-teaming tests. Experts simulate hacker attacks to spot weaknesses. The National Institute of Standards and Technology (NIST) sets guidelines for these tests.
Agencies now use approved alternatives. Palantir and C3.ai step in. The General Services Administration (GSA) handles IT contracts.
Impacts on Federal Agencies
The Defense Department and Health and Human Services (HHS) face delays. Projects stall without Mythos AI.
Budgets shift to safe tools like AWS GovCloud. Staff train on open-source AI options. This adds time and costs.
The Government Accountability Office (GAO) reports federal AI spending exceeds $2 billion yearly. Delays increase these expenses.
Crypto Market Snapshot on October 10
Markets held steady despite fear. Alternative.me provided this top coins data:
- Token: BTC · Price (USD): 77,293 · 24h Change: +3.5% · Market Cap (B USD): 1,547.1
- Token: ETH · Price (USD): 2,418.67 · 24h Change: +3.8% · Market Cap (B USD): 291.9
- Token: XRP · Price (USD): 1.47 · 24h Change: +3.2% · Market Cap (B USD): 90.7
- Token: SOL · Price (USD): 88.88 · 24h Change: +1.1% · Market Cap (B USD): 51.1
Market cap equals price times circulating supply. It gauges a coin's total value in USD terms.
Main Security Risks in Mythos AI
Mythos AI risks hallucinations. It generates false information without safeguards. OMB demands fixes.
Supply chain attacks taint data sources. Biased datasets amplify errors. Quantum computing threatens encryption. NIST develops post-quantum standards to counter this.
Links to Tech Stocks and Finance
OMB rulings affect AI stocks. Secure AI firms gain demand in fintech. Banks use it to spot fraud.
Crypto relies on AI oracles. These provide trusted data to smart contracts. Reliable oracles prevent bad trades.
The EU's Markets in Crypto-Assets (MiCA) regulation starts in 2026. It controls crypto issuers and trading platforms. US moves like OMB's influence global prices. Bitcoin's market cap nears $1.5 trillion USD, per Alternative.me.
Investors pick compliant AI startups. Federal contracts reward winners. This denial slows Mythos AI's growth.
Ripple Effects on Businesses
Private companies follow federal leads. Chief Information Security Officers (CISOs) pick vetted AI. Procurement processes lengthen.
Banks roll out AI slowly in apps. Developers adopt open standards. Competition for secure AI grows.
OMB data shows federal tech budgets hit $100 billion USD in fiscal 2024. AI claims a larger share each year.
Path Forward for Mythos AI
Mythos AI needs to pass audits and earn certifications. FedRAMP approval opens doors. Continuous monitoring satisfies OMB rules.
New OMB memos will clarify safe AI traits. Fixes may lead to approval. Track updates on federal AI adoption.
Frequently Asked Questions
What does OMB's Mythos AI review mean?
OMB reviewed Mythos AI for security. An official told Nextgov/FCW it denies agencies access. Risks block federal use.
Why does OMB restrict Mythos AI?
Security issues like data poisoning and hallucinations concern OMB. It enforces federal AI rules. Tests ensure safety.
How does this affect federal agencies?
Agencies switch to approved AI like Palantir. Projects delay. Budgets move to vetted tools.
What risks worry OMB about Mythos AI?
Hallucinations, supply chain attacks, and bias top the list. OMB requires NIST compliance and red-teaming.
