Bank of America hires 1,000 external experts to address software vulnerabilities

Bank of America has engaged up to 1,000 external experts to assist its internal team in rapidly addressing system vulnerabilities. This initiative follows the revelation of potential attack points by the AI model Mythos from Anthropic. Brian Moynihan, the CEO of Bank of America, stated that the company needs to expedite the review and strengthen its internal systems, including software developed by external vendors, since early this year to combat escalating risks. Currently, risks associated with advanced AI models are more pressing than ever, especially as the Frontier model has become increasingly proficient, prompting management and technology teams to assess the situation urgently to mitigate these risks as quickly as possible.

Bank of America has contracted 1,000 external experts to collaborate with its existing workforce of 3,000 employees to elevate expertise in cybersecurity. The bank is also allocating a budget of hundreds of millions of dollars to rectify software deficiencies. This move is one of the first documented cases from a leading business in America that explicitly reveals budget figures and personnel numbers to safeguard IT systems from the capabilities of the Mythos AI model, which has recently begun limited testing for banks, technology organizations, and government agencies since April.