Apollo Global Management economist warns of AI-driven bank runs

Torsten Sløk, chief economist at Apollo Global Management, has raised concerns regarding the potential for an “agentic bank run” driven by artificial intelligence. He suggests that AI assistants, such as Meta’s Muse, could automatically move household cash from low-interest checking accounts to higher-yielding institutions.

This automated optimization of cash balances could lead to a significant loss of cheap deposits for traditional banks, which are essential for funding loans. Such a shift could pose risks to the stability of the broader financial system.