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Bank of America CEO says it hired 1,000 contractors and spent hundreds of millions of dollars to fix software vulnerabilities exposed by AI.
Bank of America CEO Brian Moynihan said Wednesday that the bank has hired 1,000 external contractors to patch software vulnerabilities exposed by advanced AI models like Anthropic's Mythos, spending "hundreds of millions of dollars" in the process, CNBC reported. He revealed that these contractors were hired in the second quarter and are still on staff. This move provides a rare example of the human and financial resources that large U.S. companies are dedicating to AI defense. Moynihan stated that this expenditure is temporary and that remediation costs are expected to decrease over time, as the company's stock price fell 8% on Wednesday.
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