AI news · Bank of America · security
Flaws found by AI keep 1,000 contractors busy at Bank of America
The bank brought in outside help to patch software holes that advanced models such as Anthropic’s Mythos exposed, its chief executive says.
Software holes found by advanced AI models such as Anthropic’s Mythos have cost Bank of America 1,000 extra contractors, chief executive Brian Moynihan told CNBC on Wednesday 14 October 2026. Mythos is an Anthropic model that is very good at finding security holes in code. Since April, Anthropic has limited it to a select group that includes banks, tech companies and government agencies.
Hired in the second quarter, the contractors have stayed on, working with the bank’s existing team of 3,000. The work covers both the bank’s own code and its vendors’ software. The patching, together with anti-money-laundering fixes, cost “a couple hundred million plus” in the third quarter, Moynihan told analysts.
He expects that bill to shrink once the backlog of flaws is fixed, The Register reports. He did not split the sum between the AI work and the money-laundering work.
Moynihan says AI also saves the bank money. Its roughly 130 internal AI projects should save $700 million in 2027, up from $300 million this year, CNBC adds.
When AI finds bugs faster than people can fix them, the companies that run the software pay for the clean-up, and Bank of America has now put a headcount on it.
Sources
Alexandre S.
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