Bank of America hires 1,000 contractors to patch AI-found flaws

Summarised from 3 outlets · Updated 15 Oct, 16:20 · Archive

Bank of America hired 1,000 contractors to patch software vulnerabilities exposed by Anthropic's Mythos AI model.

Bank of America hired 1,000 external contractors in the second quarter to help patch software vulnerabilities exposed by Anthropic's Mythos, an advanced artificial intelligence model. The contractors remain employed by the bank today, working alongside the 3,000 employees already in that department.

Mythos was released to a select group of banks, technology firms and government agencies in April. The model's ability to identify decades-old software flaws has prompted major corporations to undertake costly defensive efforts. CEO Brian Moynihan told CNBC that the bank spent 'a couple hundred million plus' on software remediation and regulatory issues related to anti-money laundering compliance in the third quarter.

Moynihan said the bank felt compelled to act quickly. 'That risk is real risk, and that's why when the frontier-type models came out a lot of us sat down and said, how do we figure out how to get through this quickly?' He also noted a tension inherent in the situation: 'We've got to stay ahead of them, and we've got to be mindful that the people doing the software development are the people trying to sell us the services.'

How it is being reported

• Bank of America had to hire 1,000 contractors to patch software flaws spotted by Anthropic MythosBank also had to spent more than a hundred million dollars, but it's confident the spending will decrease in time.TechRadar · 15 Oct, 17:10
• Bank of America had to bring in 1,000 contractors to patch all the bugs Mythos identifiedCEO said the workers were hired in Q2 and are still helping todayThe Register · 15 Oct, 14:45
• Bank of America hired 1,000 contractors to patch software flaws exposed by Anthropic's MythosBank 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.CNBC · 14 Oct, 19:48

In this story: Bank of America · Anthropic · Mythos · Brian Moynihan

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