Bank of America hired 1,000 contractors to patch software flaws exposed by Anthropic's Mythos
Bank of America hired 1,000 contractors to patch software flaws exposed by Anthropic’s Mythos, offering a rare look at costs involved in defending against AI.
TL;DR
- Bank of America hired 1,000 external contractors to help patch software vulnerabilities.
- These vulnerabilities were exposed by advanced AI models, including Anthropic's Mythos.
- The bank also has 3,000 internal employees working on this issue.
- Significant spending, 'a couple hundred million plus,' was allocated to software remediation and anti-money laundering compliance.
- The AI's ability to find software flaws necessitates costly defensive measures.
- CEO Brian Moynihan reassured investors that remediation costs are temporary and expected to decline.
- The bank is pursuing about 130 internal AI projects with projected savings rising to $700 million by 2027.
- Bank of America's headcount has decreased by approximately 3,400 employees in the past year.