JPMorgan's Dimon says new AI model create new cyber threats

Investing.com -- JPMorgan Chase Chief Executive Jamie Dimon said on Tuesday that artificial intelligence is creating new cybersecurity vulnerabilities for the banking sector, even as the technology may eventually strengthen defenses.

Speaking on the bank's earnings call on Tuesday morning, Dimon said the company is testing Anthropic's Mythos AI model, which was announced last week. He warned that the technology has exposed additional security weaknesses.

"AI's made it worse, it's made it harder," Dimon told analysts. "It does create additional vulnerabilities, and maybe down the road, better ways to strengthen yourself too."

When asked about Mythos, Dimon referenced Anthropic's warning that the model had already found thousands of vulnerabilities in corporate software. "It shows a lot more vulnerabilities need to be fixed," he said.

Last week, Treasury Secretary Scott Bessent summoned bank chief executives to a meeting to discuss the risks posed by Mythos.

Dimon said JPMorgan has invested heavily in cybersecurity, with dedicated teams and coordination with government agencies. "We spend a lot of money. We've got top experts. We're in constant contact with the government," he said. "It's a full-time job, and we're doing it all the time."

The chief executive warned that risks extend beyond individual banks due to the interconnected nature of the financial system. "Banks are attached to exchanges and all these other things that create other layers of risk," Dimon said.

Dimon added that traditional cybersecurity practices remain essential alongside advanced AI tools. "A lot of it is hygiene, how do you protect your data? How do you protect your networks, your routers, your hardware, changing your passcode?" he said. "Doing all those things right dramatically reduces the risk."

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