Bank of America CEO raises concerns over Anthropic’s Mythos AI and its threat to financial systems
Brian Moynihan joins growing chorus of Wall Street leaders alarmed by an AI model that can autonomously discover and exploit software vulnerabilities
Bank of America CEO Brian Moynihan has joined other Wall Street leaders in warning that advanced AI models such as Anthropic’s Mythos are increasing cybersecurity risks for financial institutions.
“It is a big change in the amount of work that will have to go on and the pace of which these tools will affect vulnerabilities in your systems,” Moynihan said Thursday in an interview with Bloomberg Television.
Bank of America is among a group of Wall Street firms with controlled access to Mythos. The banks are using the model to test their systems and share findings with peers.
Anthropic said Mythos excels at finding software vulnerabilities. The model has not been released publicly because of concerns that its capabilities could be misused.
JPMorgan CEO Jamie Dimon raised similar concerns earlier this week, comparing broad access to the model with giving powerful weapons to individuals.
Moynihan said Bank of America is working with outside providers and other institutions to assess the risks and strengthen its systems.
His comments followed the bank’s second quarter results, which showed a 47% annual increase in investment banking revenue to $2.2 billion. Moynihan said the dealmaking pipeline remains strong.