Bankless · Friday, October 2, 2026
A chief economist at Apollo warns that advanced AI agents, designed to optimize personal finances, could inadvertently trigger bank runs. By suggesting consumers move savings from low-yield bank accounts to higher-yield options like SoFi or stablecoins, these AI assistants could rapidly drain deposits. This trend mirrors concerns previously raised about stablecoin yields and could pressure banks that rely on low-cost consumer deposits for lending.
“AI assistants like Muse, which was released, I believe, in the last week or so. Instinct. Also, ChatGPT's Dot. They could be used to cause a bank run because consumers, they start using these AI agents.”
“The very first thing an AI agent is going to say after they say cancel your whatever subscriptions that you don't use is, hey, look at your savings. You have $5,000 in savings. Hey, that $5,000 in your Wells Fargo account? Why don't we take that and put that somewhere else?”
“Well, problem is, David, banks aren't set up that way because they love to extract rent on consumer savings.”