AI-Triggered Bank Run

Apollo’s Chief Economist Torsten Sløk warns that AI agents like Meta’s Muse could trigger an “agentic bank run.” The argument goes like this: A lot of people’s money is in low-yielding checking accounts; AI agents would sweep it into higher-yielding savings accounts and CDs. Banks, which lend out those cheap deposits, lose their funding and their spread. I think this is more hypothetical than real – it requires a lot of trust in your agent, and neither Meta’s Muse nor OpenAI’s Dots can move your money at the moment. But it does point toward a very weird future in which any business built on customer inertia should be on high alert.