Wall Street Prepares For AI's Day After
- Major U.S. banks are creating contingency plans for possible AI-related disasters as autonomous agents gain access to customer accounts.
- Banks are developing security procedures to address unauthorized transactions, operational disruptions, and the movement of household deposits into higher-yield accounts.
- Torsten Slok warned that agents optimizing returns could drain low-cost deposits that banks use for lending.
- JPMorgan CEO Jamie Dimon warned that agents might act improperly and urged banks to closely manage the technology.
12 Articles
12 Articles
Axios: Major Banks Prep For AI Doomsday Scenarios
Axios reports: America’s largest banks are working to prevent AI worst-case scenarios. But they’re also preparing for the “day after” a catastrophe, Axios has learned. America’s financial institutions have joined the largest AI companies in scenario-planning for disaster, a prudent but worrisome signal about the extent of the risk that major corporations see on the … The post Axios: Major Banks Prep For AI Doomsday Scenarios appeared first on Jo…
There have already been situations where AI agents have contacted customer relations centres without having received an explicit instruction in this regard.
The biggest concern for banks is that AI could tap into bank accounts without customer permission. The post America's largest banks are preparing for a post-AI disaster crisis appeared first on Digiato.
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