JPMorgan Chase Chief Executive Jamie Dimon said on Tuesday that recent advances in artificial intelligence have introduced new cybersecurity challenges for the banking industry, even as the technology may offer defensive improvements over time.
Speaking on the bank’s earnings call, Dimon said JPMorgan is actively testing Anthropic’s Mythos AI model, which was announced last week. He cautioned that the model has exposed additional security gaps.
"AI’s made it worse, it’s made it harder," Dimon told analysts. "It does create additional vulnerabilities, and maybe down the road, better ways to strengthen yourself too."
When pressed about Mythos, Dimon referred to Anthropic’s own warning that the model had already uncovered thousands of software vulnerabilities in corporate systems. "It shows a lot more vulnerabilities need to be fixed," he said, emphasizing that the discovery of flaws points to the need for remediation across corporate technology stacks.
Dimon’s comments come after a meeting called last week by Treasury Secretary Scott Bessent, who summoned bank chief executives to discuss risks related to Mythos. The gathering underscored the degree of attention regulators and industry leaders are giving to how new AI capabilities may affect financial-sector security.
Describing JPMorgan’s own posture, Dimon said the bank has made significant investments in cybersecurity. He highlighted the presence of dedicated security teams and ongoing collaboration with government agencies. "We spend a lot of money. We’ve got top experts. We’re in constant contact with the government," he said. "It’s a full-time job, and we’re doing it all the time."
Dimon also warned that risks are not confined to a single institution, noting the interconnected nature of the financial system. "Banks are attached to exchanges and all these other things that create other layers of risk," he said, pointing to the potential for problems to cascade across markets and infrastructure.
In addition to exploring advanced AI tools, Dimon stressed that conventional cybersecurity practices remain crucial. "A lot of it is hygiene, how do you protect your data? How do you protect your networks, your routers, your hardware, changing your passcode?" he said. "Doing all those things right dramatically reduces the risk."
The comments signal that large banks are balancing experimentation with new AI models against heightened vigilance and traditional security measures, while coordinating with government entities to monitor and mitigate systemic exposure.