JPMorgan CEO Jamie Dimon warned customers about risks of third-party AI agents. He said users own the decision if they grant agents bank account access. Dimon cited concerns over rogue agents and data misuse. JPMorgan will not allow outside agents into its systems due to client risk. The bank is building tools to protect customers from such risks. Dimon also urged regulators to prepare for potential liquidity risks from agentic AI. He noted AI-driven deposit shifts could disrupt customer relationships. JPMorgan’s AI-powered Smart Cash tool is in pilot for cash management. CFO Jeremy Barnum said AI benefits are not yet visible in earnings. Barnum added the bank focuses on model agnosticism to control costs. Dimon mentioned tools that route queries to cheaper models to manage token expenses.

• $700M annual AI spending
• $27.3B quarterly expenses
• 12% year-over-year expense increase