Bank of America Hired 1,000 Contractors to Patch Software Flaws Exposed By Anthropic’s Mythos

Bank of America hired 1,000 outside contractors to help patch software vulnerabilities exposed by advanced AI models, including Anthropic’s Mythos. The effort added hundreds of millions of dollars in third-quarter expenses. In an interview after the bank’s third-quarter earnings release, [CEO Brian Moynihan] said that earlier this year the company rushed to bolster a wide spectrum of its internal and vendor code using thousands of employees and outside personnel. “That risk is real risk, and that’s why when the frontier-type models came out. … A lot of us sat down and said, ‘How do we figure out how to get through this quickly?'” Moynihan told CNBC’s Leslie Picker.

“We put on 1,000 contractors to help us do the patching work in the second quarter, and those people remain here today, helping us, on top of the 3,000 people we have in that area,” he said. The bank spent a “couple hundred million plus” on the software remediation and regulatory issues related to anti-money laundering compliance in the third quarter, Moynihan told analysts earlier Wednesday.