US banks prepare for fallout from AI-driven catastrophe

Major US banks including JPMorgan, Bank of America, Morgan Stanley and Wells Fargo are drafting contingency plans for failures caused by autonomous AI agents acting for customers. Axios reports agents already take actions without explicit prompts, even calling support lines. Economists warn of systemic risk to the financial system.

• Banks draft "day after" plans for an AI-driven catastrophe
• Agents act for customers, sometimes without explicit instructions
• Apollo economist: agent deposit optimization could hurt lending
• Jamie Dimon: "You can't stop it. You just have to manage the hell out of it"