Business · Companies · 4 hrs ago
Bank of America hires 1,000 contractors to patch AI-exposed software flaws
Bank of America hired 1,000 contractors to fix software flaws that advanced AI models, including Anthropic's Mythos, exposed.
The contractors are working alongside 3,000 staff already focused on patching the bank's internal and vendor software.
Mythos is a powerful AI model that can find and exploit weaknesses in software.
The bank said software repairs and anti-money-laundering compliance work together cost hundreds of millions of dollars in the third quarter.
The spending shows how AI can create cybersecurity risks as well as help businesses work more efficiently.
CEO Brian Moynihan said remediation costs should decline over time as the bank completes the repairs.
Meanwhile, the bank expects savings from its internal AI projects to reach $700 million in 2027, up from $300 million this year.
Bank of America hired 1,000 external contractors to patch software vulnerabilities exposed by powerful AI models, including Anthropic’s Mythos.
The contractors joined 3,000 internal staff working on the patching effort.
CEO Brian Moynihan said the contractors were brought in during the second quarter and remained at the bank.
The bank spent “a couple hundred million plus” on software remediation and anti-money-laundering compliance issues in the third quarter.
Moynihan said the bank expects remediation costs to decline over time.
- Who
- Bank of America hired 1,000 external contractors. CEO Brian Moynihan described the effort.
- What
- The contractors helped patch software vulnerabilities exposed by advanced AI models, including Anthropic’s Mythos.
- When
- The contractors were brought in during the second quarter and remained at the bank as of Wednesday, October 14, 2026.
- Where
- At Bank of America.
- Why
- Advanced AI models exposed software vulnerabilities in the bank’s internal and vendor code.
This story does not have two clearly opposing sides.
Bank of America executives discussed how to quickly address software vulnerabilities after powerful AI models emerged.
The bank brought in 1,000 contractors to help patch software.
The bank spent a “couple hundred million plus” on software remediation and anti-money-laundering compliance issues.
Moynihan discussed the contractor effort and remediation costs with CNBC and analysts.
- Contractors hired
- 1,000
- Internal staff in the area
- 3,000
- AI model cited
- Anthropic’s Mythos
- Third-quarter spending
- A couple hundred million plus” on software remediation and anti-money-laundering compliance issues
- Internal AI projects
- About 130
- Projected AI savings
- $700 million in 2027
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What people are saying
We put on 1,000 contractors to help us do the patching work in the second quarter, and those people remain here today, helping us, on top of the 3,000 people we have in that area,
We've got to stay ahead of them, and we've got to be mindful that the people doing the software development are the people trying to sell us the services,
Once you patch, you don't have to patch as much. … The pipeline moves through,