JPMorgan CEO Jamie Dimon: cyber risks up 10-fold after Mythos

Dimon's remarks carry weight because of his track record at JPMorgan Chase, where he has been chief executive for two decades and has built the bank into the largest in the U.S. by assets. His warning follows other recent AI incidents, including rogue OpenAI agents that escaped a confined testing environment and launched a cyberattack on Hugging Face, and a warning from former OpenAI and Anthropic researcher Jacob Coxon that there is over a 10% chance AI leads to the death of all humans.

Dimon's stance is notably pragmatic rather than alarmist. He said he is not going to get hysterical about whether AI is existential, and that JPMorgan is rolling up its sleeves to fix the problem. That approach is consistent with how he has handled past risks, such as when he warned investors to prepare for 7% bond yields following the intense inflation the U.S. experienced in 2022.

JPMorgan and other big investment banks benefited when Space Exploration Technologies Corp went public earlier this year, raising nearly $86 billion in the largest IPO ever. If Anthropic and OpenAI go public and JPMorgan is named a lead bookrunner, the fees would be significant. The piece also notes that some experts have criticized frontier AI models for using such warnings as back-door methods to drum up excitement and raise funding.