Source: New York Post
AI agents could spark a new kind of bank run by automatically yanking consumers’ cash out of low-paying checking accounts and chasing higher yields, Apollo chief economist Torsten Sløk warned — the latest dire prediction about artificial intelligence in a wave of doomerism. The threat to banks could emerge as personal AI agents such as Meta’s newly launched Muse gain access to users’ financial information while taking on a growing range of tasks on their behalf, the egghead explained. “If every household used AI agents to optimize the return on their cash balances, banks could lose a large share of the cheap deposits they rely on to make loans, which would be a problem for the entire financial system,” Sløk wrote in a Sunday note.
