Major U.S. banks are strengthening safeguards to prevent AI agents from acting autonomously and to ensure humans perform final verification. As AI use spreads quickly, controlling new risks such as unexpected behavior and cyberattacks is emerging as a key task for the financial sector. Bank of America and PNC executives outlined their AI strategies and risk controls at a conference in New York, stressing limits on agent autonomy and tighter oversight.

Elon Musk proposed that major artificial intelligence companies establish a mutual verification system to review one another’s models before releasing new versions. He said SpaceX, OpenAI, Anthropic, Google, Meta and three to four leading Chinese AI firms should take part. Musk argued competitors using a common testing framework could spot safety issues more effectively than self-assessments. The proposal comes as debate grows over AI development speed and safety, with U.S. and China showing differing positions.