During the JPMorgan Tech Summit in London, CEO Jamie Dimon said cyber risk is the biggest concern for the finance sector.
“I published my chairman’s letter ... I said cyber is our biggest risk,” he said, adding that the letter was written prior to advanced vulnerability finding models like Anthropic Mythos.
“I would say [cyber risk] went up tenfold after Mythos.”
Dimon acknowledged that models like Mythos have helpful applications, most notably the ability to discover critical vulnerabilities in even old software that were previously undisclosed, but said that the concern of that technology being in the wrong hands is a worrying issue.
“AI [has found] vulnerabilities that we didn’t know about, and we always worried about cyber before these things,” he said.
“The downside is obviously what you read about with the agents and Mythos and all these things that can cause trouble. And that’s a legitimate concern. It’s a real thing.”
Still, Dimon has reiterated that AI isn’t something to fear, but something that needs to be harnessed and fixed.
AI is a major asset for JPMorgan, which has remained the most advanced bank for AI on the Evident AI banking index for five years now.
While Capital One Financial and Royal Bank of Canada also remained in their respective second and third place positions, JP Morgan’s lead over the others has grown considerably.
Evident co-founder and co-chief executive Alexandra Mousavizadeh said the banks at the top of the list are growing, as are their human workforces.
“Roles are changing, and some are not being backfilled, but the banks at the top of our index are growing, and growing headcount,” she said.
“This could be the start of the largest net job creation we have seen in decades.”
This story was originally published by Cyber Daily’s sister brand, Banking Daily.
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