JPMorgan Says It Is Blocking Outside AI Agents That Use Shared Customer Credentials
On JPMorgan's third-quarter call on October 13, Jamie Dimon said the bank is 'not going to allow just any outside agent to come inside the company,' and CFO Jeremy Barnum said it is blocking agent services that rely on customers sharing their credentials, according to a transcript.
JPMorgan Chase says it will not let "just any outside agent" into its systems. On the bank's third-quarter earnings call on Tuesday, October 13, CEO Jamie Dimon said, "we're not going to allow just any outside agent to come inside the company because it's just too risky for clients," according to a transcript published by Benzinga.
What the executives said
CFO Jeremy Barnum said some services that let agents move money in customer accounts do so through credential sharing, which the bank has long opposed. "To the extent that we're able to block those, we are blocking them to protect customers and protect ourselves," he said, per the transcript. He added that if customers give their credentials to an agent that does something they don't want, "that's going to be on them," and said the bank is working on doing this correctly.
Dimon said the bank uses agents internally and will use them for customers, but that "you don't want rogue agents, and there could be thousands of them." He said customers using outside agents should understand "there's a liability transfer."
The call also covered results: JPMorgan reported net income of $15.3 billion and revenue of $50.9 billion, up 8% year on year, according to the transcript.
Limits
- Quotes come from Benzinga's transcript, which it says is automated and may contain errors. The bank did not name which agent services it blocks.