Big banks seek to ease security worries as AI push accelerates

“AI is our friend, OK?” said Morgan Stanley CEO Ted Pick during the bank’s earnings call as the industry grapples with its disruptive potential.

Banking giants aren’t slowing their AI investments as they pursue efficiency and productivity gains from the technology’s implementation. However, the latest frontier model developments are causing a cybersecurity stir among financial institutions. 

Firms including JPMorgan Chase, Morgan Stanley, Goldman Sachs, BNY and others reported earnings results for the first quarter of 2026 this week. While executives focused on AI wins and the technology’s potential in the industry, several fielded concerns about frontier AI models and their implications for cybersecurity.  

Anthropic earlier this month said its Claude Mythos Preview frontier model could reshape cybersecurity as it surpasses human capabilities of finding and exploiting software vulnerabilities. The model provider claims Mythos Preview has already discovered thousands of serious vulnerabilities across major web browsers and ...