Bank of America adds 1,000 contractors to fix AI-found flaws

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Bank of America adds 1,000 contractors to fix AI-found flaws

Bank of America hired 1,000 outside contractors to patch software flaws exposed by AI models like Anthropic's Mythos, CEO Brian Moynihan told CNBC on 14 October. Mythos, a model able to uncover decades-old security holes, was released to a small group of banks, tech firms and government agencies in April. Moynihan said the contractors joined 3,000 existing staff, and the bank spent "a couple hundred million plus" last quarter on this and anti-money laundering work combined. He expects patching costs to ease, while the bank's own AI projects are forecast to save US$700 million in 2027, up from US$300 million this year.

Why it matters: If your business runs older software or relies on suppliers' code, AI tools can now find its weak spots faster. Ask your IT providers when they last patched, and budget for regular updates.

Source: CNBC · Also reported by The Decoder

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