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The potential for artificial intelligence to disrupt traditional financial systems has become a significant concern for economists and regulators. Specifically, the emergence of advanced AI agents capable of managing personal finances has raised questions about their broader impact on banking stability.
Torsten Slok, the Chief Economist at Apollo Global Management, has articulated a scenario where these AI agents could inadvertently trigger bank runs. This warning centers on the future capabilities and widespread adoption of such technologies, rather than on events that have already occurred.
The Rise of Personal AI Agents
Meta’s AI agent, Muse, launched on September 8, 2026. This development marked a new era for personal AI assistance. Muse is designed to perform a wide array of tasks on a user’s behalf.
These capabilities include browsing websites, filling out forms, booking appointments, and handling customer service interactions. Crucially, Muse can also negotiate on a user’s behalf, extending its utility into complex personal and financial management.
While Muse can access financial information through platforms like Plaid, its current capabilities do not explicitly include automatically transferring funds between banks. The concern, however, lies in the potential for future iterations and the collective behavior of many such agents.
How AI Could Spark a Bank Run
A bank run occurs when a large number of customers withdraw their deposits from a financial institution simultaneously, often due to concerns about the bank’s solvency. In a traditional scenario, this process is relatively slow, limited by human decision-making and physical access to funds.
The advent of AI agents introduces a new dynamic. If a large number of AI agents, acting on behalf of their users, simultaneously detect a perceived risk in a financial institution, they could initiate mass withdrawals at an unprecedented speed. This collective, automated action could accelerate a bank run, making it far more difficult for institutions to respond.
Economists like Slok suggest that the speed and scale at which AI agents could act pose a unique systemic risk. The traditional safeguards and response times built into the financial system may not be adequate to counteract an AI-driven, instantaneous outflow of capital.
Regulatory Responses and Concerns
The financial sector and government bodies are actively addressing these emerging risks. In June 2026, the Financial Stability Board (FSB) proposed 12 sound practices for the responsible adoption of AI by financial institutions. These practices aim to guide the safe integration of AI while mitigating potential systemic risks.
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Further demonstrating the urgency of the issue, twenty-six attorneys general released a letter on September 24, 2026. This letter urged Congress to regulate advanced artificial intelligence, specifically warning of potential threats to the financial system. The bipartisan call underscores the broad recognition of AI’s disruptive potential.
“The rapid deployment of AI agents capable of autonomous financial actions presents an entirely new vector for systemic risk. We must ensure regulatory frameworks evolve at the same pace as technological innovation to safeguard our financial stability.”, Statement from a coalition of attorneys general.
The debate now centers on how to balance innovation with necessary oversight. Regulators face the challenge of understanding AI’s evolving capabilities and designing frameworks that are both effective and adaptable.
The Future of Financial Stability in an AI World
The warnings from economists and government officials are not about immediate collapse. They are about foresight and preparedness. The concern is that without proper regulation and robust risk management, the widespread adoption of AI agents could introduce unforeseen vulnerabilities into the global financial system.
The discussion around AI and bank runs highlights a broader challenge: how societies integrate powerful new technologies without destabilizing existing structures. The financial sector, with its intricate interdependencies, serves as a critical test case.
Economists analyze. Regulators propose. Governments consider. Stability.
Sources
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