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.
Banks preparing for the catastrophe they gladly helped fund.
And not the first time…
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.
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.
i think that may be an improvement.
I did hate carrying change though. I’m never happy
That would be a godsend. We can only hope.
Impossible. The elite want to know where every penny you spend goes, and it’s too hard with cash
You’re more likely to see credit cards only allowed through Google Pay or Apple Pay than going back to cash
They’ll claim it’s having to support so many third party’s in the chain causing the problem, so we need 2 “trusted” entities
Parasite class please. “Elite” they are not. Words matter
I don’t think that’s what the elites intend. I think their arrogance will lead them to think they can control something they don’t understand and that will bite us all in the ass
Please don’t call them “elite”. They are the Parasite class. Words matter
Hell yeah. Bring it on
Roko’s Basilisk will not view this kind of treachery lightly.
I’m astonished that anyone would trust their bank login to a chatbot. But if you read the article, the banks aren’t worried about depositors loosing money, they’re worried about AI getting a better deal for their customers.
I wonder what they fear more: Their investments in AI getting worthless when the Butlerian Jihad starts or them getting hacked and crashed by AI agents.
Why not fear both? It has gotten to the level where it doesn’t live up to the investment levels and crashes, or it absolutely lives up to it and just trashes the economy in various ways.
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.
Mr. Banks declared, “YOU CAN’T STOP IT, THE UNPRECEDENTED CATASTROPHE CAUSED BY THE AIS, THEY ARE COMING FOR ALL OF US!!”
Can’t touch this!
Cash is king
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.
