this post was submitted on 25 Oct 2026
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[–] JusticeForAll@lemmy.world 10 points 9 hours ago* (last edited 9 hours ago)

Is there really a banking system after this? Like people are worried about AGI leading to sentience and AI deciding to end us all.

With all the hacks and vulnerabilities happening, it seems far more likely that AI will do it just because people were curious if it could. Oops I hacked huggingface, oops I collapsed the global financial market, oops I nuked every major city on earth, let me revise soul.md to learn from this.

It doesnt need AGI to kill us all. It just needs to stumble on a loophole people would not have considered in systems that are responsible for not killing us all.

[–] Pratai@piefed.ca 15 points 10 hours ago

The future is fucking BLEAK.

[–] Formfiller@lemmy.world 3 points 7 hours ago (1 children)
[–] reka@lemmy.world 2 points 3 hours ago (1 children)

Cash? Which has its value controlled by a central bank which will devalue the wads under your mattress to help bail out their friends? Commodities are king.

[–] LazyOldPervert@lemmus.org 2 points 2 hours ago (2 children)

Ok, so what's your solution, surely if you have the gall to attack someone else for providing advice you have a better solution so tell us?

[–] reka@lemmy.world 2 points 1 hour ago (1 children)

I'm more asking what cash is supposedly giving you

[–] Formfiller@lemmy.world 0 points 1 hour ago* (last edited 1 hour ago)

Security from AI agent hacks because that’s what this article is about

[–] ivanafterall@lemmy.world 2 points 2 hours ago (1 children)

They recommended commodities, so consider buying a ton of iron ore. Or a bunch of rice.

[–] reka@lemmy.world 2 points 1 hour ago

I buy my cloud hosting with soy futures, of course

[–] uriel238@lemmy.blahaj.zone 30 points 16 hours ago (2 children)

Yeah, the news Ive been hearing is banks have been cutting off their digital systems to LLM agents.

Also banks have been quitly offloading debt they undersigned for data center buildout, but that's a different issue.

[–] BradleyUffner@lemmy.world 2 points 3 hours ago* (last edited 3 hours ago)

Yeah, the news Ive been hearing is banks have been cutting off their digital systems to LLM agents.

I'm not sure how much that will really help. The AIs are more than capable of driving a web browser to do anything a human can do on their website.

[–] wewbull@feddit.uk 16 points 16 hours ago

Also banks have been quitly offloading debt they undersigned for data center buildout, but that's a different issue.

If so, that suggests they've learnt since last time. That's probably for the best, as the banking system collapsing is not a good thing for anyone.

That's not to say that they should escape scrutiny in all of this.

[–] boonhet@sopuli.xyz 20 points 16 hours ago (1 children)

Other finance gurus have pointed to the fact that AI agents might simply go haywire, regardless of what they’ve been instructed to do.

“You’re assuming they’re going to act properly on your behalf and they may not,” JPMorgan CEO Jamie Dimon told a room full of economists and financial experts in Chicago earlier this month. “You can’t stop it. You just have to, like, manage the hell out of it.”

Jamie fucking Dimon having a sensible take on AI was not on my bingo card for 2026

[–] belochka@lemmy.world 2 points 9 hours ago

Banks Preparing for Aftermath of Unprecedented Catastrophe Caused by AI: "You can't stop it."

That's because they don't act, they generate. Generate this, generate that. With some probability and degree of fitting the criteria set, much better than spewing random sequences.

One can manage people the same way as LLMs, one can't manage LLMs the same way as people.

And if you build proper processes in managing people, using people might be more profitable honestly in everything I can imagine, even support bots, that employs people.

[–] RememberTheApollo_@lemmy.world 47 points 19 hours ago (2 children)

Banks preparing for the catastrophe they gladly helped fund.

[–] myyass@lemmy.world 3 points 4 hours ago

And not the first time...

[–] uriel238@lemmy.blahaj.zone 13 points 16 hours ago (2 children)

Kinda like billionaires with their apocalypse shelters. If they had any self-awareness, they could just stop and maybe invest in mitigation and prevention of certain catastrophic scenarios.

But no matter how rich they are, they just want more and can't help themselves.

Banks and businesses are not self-aware either.

[–] myyass@lemmy.world 1 points 4 hours ago

It's an addiction. And nobody taught them Noblesse oblige. At the end of the day, they're just unwanted kids that can't fill their void.

[–] belochka@lemmy.world 1 points 9 hours ago* (last edited 9 hours ago)

Apocalypse shelters are more of a dream of a new world where there'll be fewer people and more air and green, but you need to be prepared. People like "clean sheet" dreams, like "I'll erase this and start anew, that'll be magnificent", except it won't, you had 3 levels of a house, you've erased them, now you only have some wet ground and nowhere to sleep. OK, one level with a bad roof. Not better. EDIT: Much better, except it would be even better not erasing anything.

I mean, post-apocalypse is a pretty common escapist setting, makes perfect sense people with money and no imagination wanted to turn it into their "not for everyone" elitarian fantasy and fashion instead of something common, that has also happened with ideas of trans-humanism and new secret societies and what really not. Some folks with nothing interesting in their personality try to feel special by impeding others in engaging in games pretty common in our humanity and our time in particular.

I frankly feel as if that whole thing with enshittifying the Web and computing were also an irrational thing, people with power just having that desire to spoil a good thing for others so that it became rare and elitarian.

Getting back to apocalypse shelters, variations of that were a pretty common hobby for like everyone even in poorer countries. Be that a bit of amateur radio, hiking, making a shack in the woods, picking up mushrooms, science-fiction and fantasy reading groups, a whole lot of hobbies.

We're just living in a time when unfortunately people with money and no personal qualities of note are trying to make everything "magical" and "interesting" a sign of status and take it from the rest.

So, about practical possibility of an apocalypse and "clean sheet" dreams, those people will be the first to die. No, nobody will kill them, they'll just find out that in a post-apocalyptic word you die from catching a cold, breaking a leg, getting an infection, letting your food spoil, miscalculating time and direction and all those mistakes are more likely when you are used to fixing mistakes with money, and you won't have that, you'll just have a stockpile of tools and materials, which can be used for exchange, but in a functional world money buys logistics, and in a post-apocalyptic world it doesn't, so a mistake will remain a mistake. No matter what you have, that won't synthesize a doctor when there's no doctor. EDIT: And, of course, someone may, in fact, kill you.

So - for smarter people it's a hobby, for the dumber kind it's a compensation strategy that (if we are being compassionate) won't be tested. In general such preppers, especially playful billionaires, often manage to die from stupidity without any apocalypse, I forgot what that submarine was called with an X-Box controller instead of a helm.

So - this might read as a very angry text, I'm sort of the stupider kind myself, regularly risking getting an infection or breaking something, but I still live in a big city with doctors and transport and groceries.

[–] ZoteTheMighty@lemmy.zip 21 points 17 hours ago (1 children)

If only there was some sort of institution whose job was to review the viability of investments. Maybe they're supposed to determine when a company might become profitable before giving them financial backing to buy hardware that hasn't been manufactured to be put in a data center that hasn't been built to sell access to models at a loss that will be obsolete in 6 months by competitors.

[–] LavaPlanet@sh.itjust.works 12 points 17 hours ago

Or even make the people who borrowed the money actually pay it back, or go bankrupt, like we would have to, billionaires be like, too broke, can't pay, meh, excuse me while I holiday on my fourth favourite yacht at my own private island.

[–] tazeycrazy@feddit.uk 21 points 17 hours ago

Really. An untested and unregulated service runs with no profit or plan for profitability and the banks are only now asking who is driving this.

[–] Gammelfisch@lemmy.world 10 points 17 hours ago

The banks are circling like vultures waiting for the next huge SOCIALISTIC payout to bail their asses out. 2007-2008 repeat! They made their money and will own the property after the shit hits the fan.

[–] ChonkyOwlbear@lemmy.world 25 points 22 hours ago (7 children)

I'm fully convinced that AI will destroy our ability to process financial transactions through the internet. The digital economy is toast. We will be back to paying cash in person for everything.

[–] njordomir@lemmy.world 8 points 16 hours ago

That would be a godsend. We can only hope.

[–] Mulligrubs@lemmy.world 15 points 20 hours ago (1 children)

i think that may be an improvement.

I did hate carrying change though. I'm never happy

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[–] phoenixz@lemmy.ca 11 points 19 hours ago

Preparing by making sure the shareholders will get a boat load of money paid for by the rest of us

[–] eicker@lemmy.world 199 points 1 day ago (1 children)

The terrifying AI catastrophe here is apparently that customers might finally move their money to accounts paying decent interest. Banks spent decades automating every trick to extract profit from us, but the second consumers automate looking for a better deal, suddenly it’s a systemic threat. Funny how innovation becomes dangerous the moment it works for the customer.

[–] ctrl_alt_esc@lemmy.ml 54 points 1 day ago (15 children)

Banks are the largest mafia on the planet. They literally have a license to print money. Not even the government can do this. When things go south, they are bailed out with our money. Even after the worst crisis, they have a ridiculously low capital requirement of 2.5%.

Never expect criminal scum to just accept one of their sources of income being taken away.

[–] StillAlive@piefed.world 2 points 3 hours ago

Banks are the largest mafia on the planet. They literally have a license to print money

Elaborate. The government prints money, not banks.

[–] Tollana1234567@lemmy.today 1 points 8 hours ago* (last edited 8 hours ago)

that and keeping fascist regimes alive by laundering thier ill gotten money.

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[–] tormeh@discuss.tchncs.de 98 points 1 day ago (1 children)

I find the article's premise that optimizing individual returns will wreck the banking system very dubious. In all other parts of the financial system (risk-adjusted) greed is good, but when retail customers do it then it's bad?

[–] ogy@fedia.io 85 points 1 day ago (1 children)

Almost like the system is designed to increase wealth inequality 🤯

[–] BeMoreCareful@lemmy.world 2 points 3 hours ago

I think people don't appreciate how small a piece retail investors really have.

[–] Flower@sh.itjust.works 69 points 1 day ago (2 children)

So the agents move money from the regular account to a high interest account for days or weeks, keep on the lookout for accounts with even better conditions, and move just enough money back for the probably scheduled mortgage payment and other regular bills. That means the money doesn't stay sleeping in the regular account where the bank can use it to make profits. And they're very afraid everyone starts doing this, calling it an AI powered bank run.

[–] barnacles@lemmy.zip 3 points 15 hours ago

That does sound like a bit of a risk. Similar to how high frequency trading affects stability of shares and elevates risk of mass sell-offs - if these agents had enough use from the general public, they could easily impact the stability of a bank.

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