Bank of America CEO says 1,000 contractors are fixing AI-exposed flaws
Bank of America brought in about 1,000 outside contractors in the second quarter to repair software weaknesses exposed by AI models, chief executive Brian Moynihan said on 14 October. One of those models, he said, was Anthropic’s Mythos.
Moynihan disclosed the figure in an interview with CNBC after the bank reported third-quarter results, and discussed it again on the earnings call. TNW has not independently verified the numbers.
About 3,000 of the bank’s own staff were already assigned to the same work before the contractors joined, Moynihan told CNBC.
According to his account, the weaknesses lay in the code used by both the bank and its outside vendors.
Moynihan told analysts on the call that the quarter included “a couple hundred million dollars plus” in remediation costs.
That sum covered two separate jobs: the Mythos work and repairs to the bank’s anti-money-laundering controls. He expects the Mythos share...
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