“‘The AI race also risked creating ‘vendor dependence risk’, Moody’s said, meaning that ‘a set of dominant AI model and infrastructure providers could, over time, exert control over the price of AI services’. That issue is likely to emerge as the bosses of loss-making generative AI companies, including the ChatGPT creator OpenAI and the Claude owner Anthropic, come under pressure to deliver profits for investors…
For banks, AI might also make it easier for customers to switch to accounts offering higher interest rates, creating the possibility that large chunks of cash could be moved at short notice. ‘In this context, depositors’ trust in the institution and the resilience and stability of deposit funding are critical,’ Moody’s said.”