Axios Live: AI agents are changing how money moves
The proliferation of AI agents in banking and trading is presenting unresolved questions about reliability, liability and regulations, financial experts said at an Axios event.
TL;DR
- AI agents in banking and trading raise unresolved questions about reliability, liability, and regulations.
- While AI can streamline consumer experiences in banking, shopping, and trading, building trust in these agents is an ongoing challenge.
- Key concerns include who is liable when AI agents err or engage in criminal activity, and the dangers of over-reliance on AI for financial decisions.
- The FDIC's model risk management guidance currently does not apply to agentic and generative AI, as the agency deliberates on future guidelines.
- Agentic commerce has the potential to simplify purchasing, but ensuring reliability and safety remains difficult.