“Loyalty that was once built on branch proximity is now increasingly earned through personalized digital banking. Recent data reflects this shift: Read more >>
Bessent Urgently Summons Bank CEOs Over Anthropic’s New AI (2)
“Anthropic’s Mythos is a more powerful system that the AI firm has said is capable of identifying and then exploiting vulnerabilities in every major operating system and web browser when directed by a user to do so. Regulators’ caution about the power of the model in hackers’ hands echoes Anthropic’s own prudence. Anthropic has limited the release…
Unleashing potential: Exploring generative AI’s role in banking
“There are thousands of potential use cases for genAI in banking. A recent report, The generative AI advantage in financial services, by KPMG in the US, found that 76 percent of executives plan to use generative in fraud and prevention, 62 percent in customer service and personalization and 68 percent in compliance and risk.2 Yet, for now,…
BofA and U.S. Bank Turn AI Loose on Internal Bottlenecks
“Merrill Wealth Management and Bank of America Private Bank announced the full-scale rollout of AI-Powered Meeting Journey, a workflow tool that handles preparation, note-taking and follow-up for financial advisers. The bank says the capability can save advisers up to four hours per client meeting, across millions of meetings annually. The tool works in three stages…” Read more…
Stanford study outlines dangers of asking AI chatbots for personal advice
“Users’ preference for sycophantic AI responses creates ‘perverse incentives’ where ‘the very feature that causes harm also drives engagement’ — so AI companies are incentivized to increase sycophancy, not reduce it. At the same time, interacting with the sycophantic AI seemed to make participants more convinced that they were in the right, and made them…