Bank of America hired 1,000 contractors to patch software flaws. They joined 3,000 internal staff working on the issue. The flaws were exposed by Anthropic’s Mythos model. Patching and compliance costs ran to hundreds of millions in Q3. CEO Brian Moynihan expects these costs to decline over time. The bank runs 130 internal AI projects. These are projected to save $700 million next year. Mythos was released to a small group of banks in April. Moynihan said the bank must stay ahead of AI-driven risks.
What changed
Software patching relied solely on internal staff.
What it unlocks
Patching software flaws exposed by advanced AI models at scale.
- 1,000 contractors hired
- 3,000 internal staff involved
- hundreds of millions in Q3 costs
- $700 million savings projected for 2027
Sources