Bank of America Hires 1,000 Contractors to Patch AI-Exposed Flaws as Costs Top $200 Million
Updated
Updated · CNBC · Oct 14
Bank of America Hires 1,000 Contractors to Patch AI-Exposed Flaws as Costs Top $200 Million
3 articles · Updated · CNBC · Oct 14
Summary
1,000 external contractors were added in the second quarter and remain on staff, supplementing 3,000 existing workers patching software vulnerabilities Bank of America said advanced AI models exposed.
A couple hundred million dollars plus was spent in the third quarter on software remediation and anti-money-laundering regulatory issues, one of the clearest disclosures yet of AI-driven cyber defense costs at a major U.S. company.
Mythos, an Anthropic model released to a limited group in April, helped reveal decades-old weaknesses in internal and vendor code, prompting what CEO Brian Moynihan described as a rapid defensive scramble.
130 internal AI projects are still expected to cut costs elsewhere, with savings projected to rise from $300 million this year to $700 million in 2027 even as remediation spending should ease over time.