JPMorgan's Dimon: no outside AI agents in customer accounts…'could be thousands of rogue agents'
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JPMorgan Chase CEO Jamie Dimon said the bank will not let outside AI agents access customer accounts and act on their behalf.
According to CNBC on Oct 13 (US time), Dimon said on the third-quarter earnings call, 'We're not going to allow just any … outside agent to come in inside the company, because it's just too risky for clients and for JPMorgan,' and added, 'You don't want rogue agents, and it could be thousands of them.' He cited tech firms, including Meta, releasing autonomous assistants.
A JPMorgan spokeswoman confirmed the bank does not allow third parties to log in with customers' banking credentials because it is not safe. Agents connected through a service such as Plaid can read data like balances but cannot send money or pay bills. There is no timeline for safeguards that would allow direct access.
The bank is piloting its own tool, Smart Cash, which forecasts cash flow and moves funds to maximize yield. Dimon added that customers who use outside agents should understand the risk.
“BREAKING: JPMorgan Chase has blocked outside AI agents like Muse, Instinct from directly accessing accounts”