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Bank of America hires 1,000 contractors to patch AI-exposed flaws
Bank of America CEO Brian Moynihan announced that the company hired 1,000 outside contractors in the second quarter to address software vulnerabilities. These contractors are working alongside 3,000 internal employees to patch flaws identified by advanced artificial intelligence models, specifically Anthropic’s Mythos.
Moynihan stated during a third-quarter earnings call that the bank spent over 200 million dollars on software remediation and anti-money laundering compliance issues. While the influx of work was driven by the capabilities of frontier AI models to uncover complex security weaknesses, the bank expects these remediation costs to decline over time.
Anthropic's Mythos model was released in April to a limited group of banks and government agencies to help identify and fix critical software vulnerabilities before they can be exploited by attackers.
Entities
Anthropic · Bank of America · Brian Moynihan · CNBC · Mythos
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] Anthropic's Mythos AI model was released in April to a limited group of organizations to identify software vulnerabilities. www.ibtimes.com.au · the-decoder.com · www.theregister.com
- [● 3 SOURCES] Bank of America hired 1,000 outside contractors in the second quarter to assist with software patching. www.ibtimes.com.au · the-decoder.com · www.theregister.com
- [● 2 SOURCES] The bank expects patching costs to decrease over time. the-decoder.com · www.theregister.com
- [● 3 SOURCES] The bank spent over 200 million dollars in the third quarter on software remediation and anti-money laundering compliance. www.ibtimes.com.au · the-decoder.com · www.theregister.com
- [● 3 SOURCES] Bank of America has 3,000 internal employees working on software vulnerabilities alongside the contractors. www.ibtimes.com.au · the-decoder.com · www.theregister.com