Why OpenAI’s CEO Is Sounding the Alarm on Banks—and Why Every Investor Should Pay Attention Now
Related: Nearly Half of Americans Think They Could Be Duped By AI. Here’s What They’re Worried About.
Altman’s fears that AI could be misused in the wrong hands are echoed by financial leaders. According to a survey released in March by consulting firm Accenture, 80% of bank cybersecurity leaders state that AI allows bad actors to launch attacks faster than banks can respond. In other words, the leaders can’t keep up with the rapid pace of AI scams targeting personal bank accounts.
Consumers reported losing more than $12.5 billion to scams in 2024, a 25% increase from the previous year, according to the Federal Trade Commission. More people fell for scams and lost money to them last year, with $2.95 billion lost to imposter scams.
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