AI won’t stay in its risk category
For the first time, JP Morgan filed a form 10-K listing AI as a standalone risk factor—a sign of how banks are rethinking previously defined risk categories and their overall risk profile.
At JP Morgan’s annual general meeting on May 19, CEO Jamie Dimon was asked about the bank’s primary risk exposures and whether the growing use of artificial intelligence and digital tools meant that operational risk had become the bank’s biggest threat.
“I think the largest threat to the company is cyber. We’ve written about that before,” Dimon said. “If you consider cyber [-security risk] operational [risk], the answer would be yes.”
Dimon’s hesitation over whether to classify cyber as
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