If we allow algorithms to inherit yesterday's incentives — maximizing return, minimizing empathy — then tomorrow's system will be flawlessly efficient at reproducing inequality.

The announcement drove a large increase in Better's stock price, but UWM, Rocket and Pennymac all saw any gains earlier in the day more than dissipate.

Banks like Grasshopper are already starting to use AI agents where in the past they would have bought software as a service.

RIA leaders are debating "digital employees" but expect service models to expand to meet growing HNW needs, says industry observer Ric Edelman.

"AI may not take your job, but somebody who knows AI will," says Raymond George, CIO of Clearview Federal Credit Union.

A new report from Cerulli Associates shows older, affluent investors are far more skeptical of AI use than their younger counterparts. Financial advisors who use AI tools in their practices say transparency is key to setting wary clients at ease.

Cybersecurity stocks tumbled after Anthropic unveiled a new vulnerability scanner, prompting vendors to defend their runtime protection platforms.

The stock exchange is using the artificial intelligence extensively throughout the organization, including in development of a distributed ledger for tokenized securities.

Andrew Torre, the card network's president of Value-Added Services, said demand for security, agentic commerce and better processing are creating demand for technology and consulting.

Federal Reserve Gov. Lisa Cook said AI could boost productivity, but warned the transition may raise unemployment and force difficult tradeoffs between inflation and jobs.

In tests, generative AI models gave different answers to questions about banks, and those answers changed as users added new prompts.

Showing up for clients is still crucial, but using AI to deliver on financial goals matters more, says Altruist's CEO.

The headlong rush to apply AI to all sorts of internal systems runs the risk of damaging consumer trust in the industry. Banks should look to their history and be deliberate about how they integrate AI into their systems.

The nation's largest bank said Monday that it will continue to invest in artificial intelligence, despite fears that the technology may harm lenders, and in private credit, despite concerns of cracks in asset quality.

A public-private group led by the Treasury issued the first two of six planned resources to help banks navigate the risks and opportunities of AI.

Banks are deploying extremely powerful AI systems but expecting generalist employees to operate them safely and consistently without redesigning workflows around the technology. That virtually guarantees a bad outcome.

Bank employees are likely adopting the OpenClaw AI assistant on the sly to boost productivity, but the tool's deep integration exposes networks to cyber threats.

The Olympics are boosting spending in Italy, large-in-part thanks to Americans. In the U.K., Barclays is reportedly leading a meeting to seek support for an existing project. The meeting comes against the backdrop of geopolitical concerns and the dominance of American-based payment firms.

About 70% of bank CEOs said in a recent survey that they are the AI decision makers in their companies. The reasons for this range from the huge impact AI can have on an organization to the fear of missing out.