AI Flagged as Top Threat to Professional Services and Banking Industries

Apollo Global Management’s co‑president, Scott Kleinman, warned at the SuperReturn conference in Berlin that artificial intelligence will soon pressure professional‑services firms—including law, accounting and consulting—potentially reshaping investment strategies in the sector. He noted that private‑equity shops are shifting capital away from software toward infrastructure and less AI‑exposed businesses, and urged investors to assess whether AI could replace or supplement services in firms they own.

A separate survey of fraud‑management, anti‑money‑laundering and risk‑compliance leaders across 25 countries found that 84 % view AI as the biggest vulnerability for banks in the next year. The study reported rising fraud sophistication, with 80 % of institutions already encountering AI‑driven attacks and many losing more than US$10 million annually to fraud. Executives highlighted the need for real‑time intelligence sharing to curb scams and improve fraud‑prevention capabilities.