JPMorgan CEO Dimon Recruits for AI Threat Prevention Alliance

JPMorganChase CEO Jamie Dimon is lobbying corporations to join a new group focused on artificial intelligence risks, Reuters reported Wednesday (Aug. 5).

Dimon personally contacted the CEOs of other large banks and major regional lenders, as well as IT companies, according to the report, which cited unnamed sources.

The effort would expand on the Alliance for Critical Infrastructure, a group co-founded by JPMorgan, the report said. Dimon reached out to more than 40 companies in sectors including financial services, energy, water, utilities, telecommunications, airlines, railroads and other critical infrastructure industries heavily dependent on technology.

Dimon’s status as head of the United States’ biggest bank means his views on things like the economy, tech and regulation are followed closely, according to the report. He has been part of a small group of CEOs warning about potential threats of advanced AI systems.

For example, he said in July that “you’re giving ballistic missiles to individuals with Mythos,” in reference to Anthropic’s AI model, per the report. Banks are now testing that model, although it is a separate effort from that of the Alliance for Critical Infrastructure.

The U.S. government has increased its collaboration with industry to contain risks as AI systems grow increasingly powerful, the report said.

Last month, it launched Gold Eagle, a voluntary initiative using frontier AI capabilities to spot, verify and prioritize vulnerabilities, cut back on duplicative scanning, and distribute information that organizations can use to address security weaknesses.

Meanwhile, July reports by the European Systemic Risk Board and the Bank of England warned about the risks of AI to financial institutions’ cyber defenses. Frontier AI models can identify vulnerabilities, generate working exploits and execute attacks faster and on a larger scale than earlier AI systems.

In June, Entersekt Chief Information Officer Richard Bailey told PYMNTS about the increased urgency for cybersecurity improvements as attackers and defenders deploy the same AI technologies.

“AI has definitely given some tailwinds … to fraud,” Bailey said. “Fraud actors now have the ability to apply AI to their attacks. They can enrich their attacks and apply multiple attack vectors at any one time.”

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