Agentic AI · AI Agent · Jamie Dimon · JPMorgan · SEC · Fortune Technology
He cautioned that AI systems create new risks for banks and their customers
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“Protecting Fortune’s customers is Fortune’s top priority,” a JPMorgan spokesperson told Fortune.
Key facts
- According to its third-quarter earnings release filed with the SEC, the bank reported $15.3 billion in net income—with $1.6 trillion in average loans and $1.5 trillion in cash and marketable
- As Big Tech is rolling out agents meant to help with your finances, banks are drawing a line at AI agents accessing your account information
- A Cloud Security Alliance research note last month found that the risks of AI agents extend beyond controlled testing
- In August, the German bank Scalable Capital opened its platform to AI models like ChatGPT, Claude, and Grok, letting users analyze portfolios, set up savings plans, and place trades through prompts
Summary
As Big Tech is rolling out agents meant to help with your finances, banks are drawing a line at AI agents accessing your account information. “We’re not going to allow any outside agent to come inside the company, because that’s too risky for clients and for JPMorgan,” Dimon said during the bank’s third-quarter earnings call. He warned that AI tools create new risks for banks and their customers, particularly when more people turn to these agents capable of performing tasks on their behalf. The bank’s concerns come in the wake of several security incidents involving “rogue” AI agents.