Jamie Dimon Rallies Over 40 Companies to Combat Growing AI Risks Across Critical Infrastructure

EXCLUSIVE: JPMorgan CEO Dimon leads new cross-industry effort to tackle AI risks

NEW YORK, Aug 5 (Reuters) - JPMorgan Chase (JPM.N), opens new tab CEO Jamie Dimon is urging corporate leaders to join a U.S.-focused industry group to address risks posed by AI, as corporate America rapidly adopts the developing technology, two sources familiar with the matter said. Dimon has personally reached out to CEOs of other large and major regional banks and IT companies to enlist them in the initiative, which he is expanding from a group that JPM helped found called the Alliance for Critical Infrastructure, the sources said. The ACI and Dimon have also communicated with other prospective members in an effort to schedule calls in August to discuss collaboration, the sources said. The outreach, which started in July, includes over 40 companies spanning financial services, energy, water, utilities, telecommunications, airlines, railroads and other critical infrastructure industries that rely heavily on technology, the sources said. The ACI has ⁠not disclosed results of the effort so far. Dimon's views on the economy, regulation and technology are closely followed. As head of the largest U.S. bank, he has been among a small group of CEOs publicly warning about the risks posed by advanced AI systems. AI RISKS AND SAFEGUARDS The initiative aims to develop a shared understanding of how AI is being used, the risks it poses and the safeguards needed, and to work with the Trump administration on those issues, the sources said. Recent cyberattacks on water systems in Minnesota and other states have increased the need for more information sharing across industries, the sources said. JPMorgan was a founding member of the ACI, opens new tab alongside Mastercard, Berkshire Hathaway Energy and others. The organization was created to coordinate cross-sector resilience planning, share information, and respond to critical infrastructure threats, including cyber, physical, and geopolitical risk. The group has a team that is also involved in refocusing the ACI and building up the ⁠AI effort. Dimon said in a statement that the ACI leadership had seen the need to prioritize AI "years ago and got critical infrastructure companies working together." "We are proud to support this important work," Dimon said. The ACI said in a statement that "at a time of growing cyber threats, protecting the systems Americans rely on every day requires strong collaboration between government and critical infrastructure companies." Mastercard and Berkshire did not respond to requests for comment. The ACI would serve as an industry response and information-sharing forum, with an intent ⁠to work with government officials to identify core AI and technology risks, share information and help solve problems as they emerge, the sources said. The group aims to have the revamped ACI fully functional by year-end, one of the sources said. INDUSTRY, GOVERNMENT EFFORTS AI concerns have grown rapidly as businesses race to deploy the technology, with regulators and industry ⁠leaders warning that AI could also increase cyberattacks and create new vulnerabilities across critical infrastructure and financial systems. Dimon has warned about the risks posed by Anthropic's Mythos AI model, underscoring that access to advanced AI capabilities must be controlled. He said in July that "you're giving ballistic missiles to individuals with Mythos." The ⁠ACI effort is separate from an industry effort by banks to test Mythos. The U.S. government has stepped up coordination with industry to manage risks from increasingly powerful AI systems. In July, it launched the Gold Eagle initiative, bringing together AI developers, critical infrastructure operators and federal agencies to share information on vulnerabilities discovered by advanced AI models and coordinate fixes. Reporting by Nupur Anand in New York, editing by Megan Davies and Rod Nickel Our Standards: The Thomson Reuters Trust Principles., opens new tab * Suggested Topics: * Artificial Intelligence * Corporate Counsel * Water Management Nupur Anand Thomson Reuters Nupur Anand is a U.S. banking correspondent at Reuters in New York. She focuses on JPMorgan Chase, Wells Fargo and regional banks. Anand covered banking and finance in India for more than a decade, chronicling the collapse of major lenders and turmoil at digital banks and cryptocurrencies. She has a degree in English literature from Delhi University and a postgraduate diploma in journalism from the Indian Institute of Journalism & New Media in Bangalore. Anand is also an award-winning fiction writer.

Jamie Dimon recruits bank and IT leaders to tackle AI risks

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Dimon has been personally contacting banking and technology leaders but the initiate has approached more than 40 firms in areas including energy, water, utilities, telecommunications, airlines, and railroads, says Reuters, citing sources. The new effort has grown out of the Alliance for Critical Infrastructure (ACI), an organisation that JPMorgan helped set up alongside Mastercard. Dimon is a strong advocate of AI and JPMorgan is an avid investor in it - in October he revealed that the bank spends about $2 billion a year, a tenth of its technology budget, developing it. However, the rapid advancements in AI models has also raised serious questions about the risks associated with AI. Earlier this year, Anthropic sent banks and regulators scrambling to strengthen their defences in the face of its Mythos model. Dimon himself warned that "you're giving ballistic missiles to individuals with Mythos". In a statement to Reuters, Dimon says the ACI leadership had seen the need to prioritise AI "years ago and got critical infrastructure companies working together".

JP Morgan CEO Jamie Dimon leads new cross-industry effort to tackle AI risks

JP Morgan Chase's CEO, Jamie Dimon, is calling upon business leaders to participate in a newly established industry group dedicated to tackling the emerging threats associated with artificial intelligence technology. This initiative encourages collaboration and the exchange of information among vital infrastructure sectors, aiming to create a collective comprehension of AI-related risks and the necessary precautions. JP Morgan Chase CEO Jamie Dimon is urging corporate leaders to join a U.S.-focused industry group to address risks posed by AI, as corporate America rapidly adopts the developing technology, two sources familiar with the matter said. Dimon has personally reached out to CEOs of other large and major regional banks and IT companies to enlist them in the initiative, which he is expanding from a group that JPM helped found called the Alliance for Critical Infrastructure, the sources said. The ACI and Dimon have also communicated with other prospective members in an effort to schedule calls in August to ⁠discuss collaboration, ⁠the sources said. The outreach, which started in July, includes over 40 companies spanning financial services, energy, water, utilities, telecommunications, airlines, railroads and other critical infrastructure industries that rely heavily on technology, the sources said. The ACI has not disclosed results of the effort so far. Dimon's views on the economy, regulation and technology are closely followed. As head of the largest U.S. bank, he has been among a small group of CEOs publicly warning about the risks posed by advanced AI systems. AI risks and safeguards The initiative aims to develop a shared understanding of how AI is being used, the risks it poses and the safeguards needed, and to work with the ⁠Trump administration on those issues, the sources said. Recent cyberattacks on water systems in Minnesota and other states have increased the need for more information sharing across industries, the sources said. JP Morgan was a founding member of the ACI alongside Mastercard, ⁠Berkshire Hathaway Energy and others. The organization was created to coordinate cross-sector resilience planning, share information, and respond to critical infrastructure threats, including cyber, physical, and geopolitical risk. The group has a team that is also involved in refocusing the ACI and building up the AI effort. Dimon said in a statement that the ACI leadership had seen the need to prioritize AI "years ago and got critical infrastructure companies working together." "We are proud to support this important work," Dimon said. The ACI said in a statement that "at a time of growing cyber threats, protecting the systems Americans rely on every day requires strong collaboration between government and critical infrastructure companies." Mastercard and Berkshire did not respond to requests for comment. The ACI would serve as an industry response and information-sharing forum, with an intent to work with government officials to identify core AI and technology risks, share information and help solve problems as they emerge, the sources said. The group aims to have the revamped ACI fully functional by year-end, ⁠one of the sources said. Industry, government efforts AI concerns have grown rapidly as businesses race to deploy the technology, with regulators and industry leaders warning that AI could also increase cyberattacks and create new vulnerabilities across critical infrastructure and financial systems. Dimon has warned about the risks posed by Anthropic's Mythos AI model, underscoring that access to advanced AI capabilities must be controlled. He said in July that "you're giving ballistic missiles to individuals with Mythos." The ACI effort is separate from an industry effort by banks to test Mythos. The U.S. government has stepped up coordination with industry to manage risks from increasingly powerful AI systems. In July, it launched the Gold Eagle initiative, bringing together AI developers, critical infrastructure operators and federal agencies to share information on vulnerabilities discovered by advanced AI models and coordinate fixes.

JPMorgan CEO Jamie Dimon Is Quietly Rallying CEOs to Prepare for AI's Biggest Risks: Report - JPMorgan Ch

Dimon has personally contacted CEOs of major banks, regional lenders, and IT companies to expand the Alliance for Critical Infrastructure (ACI), a JPMorgan-backed initiative aimed at strengthening critical infrastructure security, Reuters reported on Wednesday. The ACI and Dimon have reached out to more than 40 companies across critical infrastructure sectors to discuss cybersecurity collaboration, with calls planned for August. The outreach began in July, but the ACI has not yet disclosed any results, as per the report. The initiative aims to improve understanding of AI's uses, risks, and safeguards while collaborating with the Trump administration. Recent cyberattacks on U.S. water systems have also underscored the need for greater information sharing across industries. AI concerns are mounting as adoption accelerates, with regulators and industry leaders warning the technology could enable more cyberattacks and expose critical infrastructure and financial systems to new risks. In July, Dimon warned that Anthropic's Mythos AI model poses serious security risks, saying U.S. officials are actively addressing the issue. He cautioned that broadly distributing such powerful AI could be like "giving ballistic missiles to individuals." Washington Ramps Up AI Oversight The U.S. government has increased coordination with the AI industry to manage risks from advanced AI systems, launching the Gold Eagle initiative in July to help AI developers, critical infrastructure operators, and federal agencies share information on vulnerabilities and coordinate responses. Meanwhile, U.S. concerns over Chinese open-weight AI models grew after Beijing-based Moonshot AI launched its Kimi K3 model, which matched leading OpenAI and Anthropic systems on some benchmarks. The release prompted the Trump administration to renew efforts to restrict foreign open-source AI models amid allegations that Moonshot AI violated U.S. intellectual property rights. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image via Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

JPMorgan CEO Dimon Recruits for AI Threat Prevention Alliance | PYMNTS.com

Dimon personally contacted the CEOs of other large banks and major regional lenders, as well as IT companies, according to the report, which cited unnamed sources. The effort would expand on the Alliance for Critical Infrastructure, a group co-founded by JPMorgan, the report said. Dimon reached out to more than 40 companies in sectors including financial services, energy, water, utilities, telecommunications, airlines, railroads and other critical infrastructure industries heavily dependent on technology. Dimon's status as head of the United States' biggest bank means his views on things like the economy, tech and regulation are followed closely, according to the report. He has been part of a small group of CEOs warning about potential threats of advanced AI systems. For example, he said in July that "you're giving ballistic missiles to individuals with Mythos," in reference to Anthropic's AI model, per the report. Banks are now testing that model, although it is a separate effort from that of the Alliance for Critical Infrastructure. The U.S. government has increased its collaboration with industry to contain risks as AI systems grow increasingly powerful, the report said. Last month, it launched Gold Eagle, a voluntary initiative using frontier AI capabilities to spot, verify and prioritize vulnerabilities, cut back on duplicative scanning, and distribute information that organizations can use to address security weaknesses. Meanwhile, July reports by the European Systemic Risk Board and the Bank of England warned about the risks of AI to financial institutions' cyber defenses. Frontier AI models can identify vulnerabilities, generate working exploits and execute attacks faster and on a larger scale than earlier AI systems. In June, Entersekt Chief Information Officer Richard Bailey told PYMNTS about the increased urgency for cybersecurity improvements as attackers and defenders deploy the same AI technologies. "AI has definitely given some tailwinds ... to fraud," Bailey said. "Fraud actors now have the ability to apply AI to their attacks. They can enrich their attacks and apply multiple attack vectors at any one time." For all PYMNTS AI coverage, subscribe to the daily AI Newsletter.