Bank of America Brings in 1,000 Contractors to Plug Vulnerabilities Discovered by Anthropic AI
Bank of America enlisted around 1,000 contractors to address vulnerabilities revealed by Anthropic's 'Mythos' model, expecting benefits between $250 million and $300 million from AI in 2026.
Brian Moynihan, CEO of Bank of America, said that the bank brought in about 1,000 contractors in the second quarter of the year to address the large number of vulnerabilities uncovered by Anthropic's 'Mythos' model, as reported by The Register.
Moynihan added during the bank's earnings call that these contractors came on top of approximately 3,000 existing technical employees, and that their mission was limited to patching software bugs identified by the model.
The bank expects artificial intelligence projects to generate benefits ranging between $250 million and $300 million in 2026, at a time when major banks are expanding their use of these tools to inspect systems and detect risks.
The bank had previously cut about 3,000 jobs without clarifying the extent of AI's role in these reductions, a point closely monitored by unions and employees as the adoption of smart tools accelerates across the banking sector.
What Do These Terms Mean?
Security Vulnerability: An error or weakness in a system that can be exploited to breach data or disrupt service.
Bug Patching: A software update issued by a developer to fix a flaw or vulnerability in an existing system.
Earnings Call: A periodic meeting in which a company announces its financial results and answers analysts' questions.
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