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Torsten Slok of Apollo Cautions That AI Agents May Prompt Rapid Withdrawal of Low-Interest Deposits
In a recent commentary, Torsten Slok, a senior economist at Apollo Global Management, raised a cautionary flag about the emerging influence of artificial‑intelligence agents on the stability of the banking system. While AI has been celebrated for its ability to streamline financial decision‑making and enhance consumer convenience, Slok points out a less obvious but potentially disruptive side eff…
Sept. 28, 2026, 1:06 p.m.
Markets
Apollo's Torsten Slok cautions that AI agents may siphon off low‑interest bank deposits
In a recent commentary, Torsten Slok, the chief economist at Apollo Global Management, raised a flag about a new, technology‑driven risk to the stability of the banking system. He warned that sophisticated artificial‑intelligence agents—software programs that can autonomously manage personal finances—could inadvertently trigger a modern‑day bank run. The mechanism, he explained, is simple yet pot…
Sept. 28, 2026, 1:06 p.m.
Markets
Apollo's Torsten Slok cautions that AI‑driven agents may siphon low‑interest deposits
In a recent commentary, Torsten Slok, chief economist at Apollo Global Management, sounded the alarm on a new kind of systemic risk that could emerge from the rapid adoption of artificial‑intelligence‑powered financial agents. While AI has already transformed many aspects of banking—from fraud detection to personalized product recommendations—Slok points out that the next wave of autonomous softw…
Sept. 28, 2026, 1:06 p.m.
Markets
AI Agents May Prompt Massive Shifts from Low‑Yield Deposits, Cautions Apollo’s Torsten Slok
In a recent commentary, Torsten Slok, chief economist at Apollo Global Management, sounded the alarm on a new, technology‑driven risk to the stability of the banking system. He argued that the rapid advancement of artificial‑intelligence agents—software programs capable of making autonomous financial decisions—could inadvertently trigger a modern‑style bank run. Unlike the classic panic‑driven ru…
Sept. 28, 2026, 1:06 p.m.
Markets
AI agents may siphon low‑interest deposits, warns Apollo’s Torsten Slok
In a recent commentary, Torsten Slok, chief economist at Apollo Global Management, sounded the alarm on a potential new threat to the stability of the banking system: the rise of sophisticated artificial‑intelligence agents that can automatically reallocate personal cash holdings. While the concept of a bank run is traditionally associated with panic‑driven withdrawals triggered by rumors or fina…
Sept. 28, 2026, 1:06 p.m.
Markets
Apollo's Torsten Slok cautions that AI agents may siphon low‑interest deposits
In a recent commentary, Torsten Slok, chief economist at Apollo Global Management, highlighted a growing concern that could reshape the stability of the banking sector: the emergence of artificial‑intelligence‑driven financial agents capable of moving consumer money at unprecedented speed and scale. While the notion of AI‑powered software making investment decisions is not new, Slok points out a …
Sept. 28, 2026, 1:06 p.m.
Markets
AI agents may siphon low‑interest deposits, cautions Apollo’s Torsten Slok
In a recent commentary, Torsten Slok, chief economist at Apollo Global Management, sounded an alarm about the emerging risk that artificial‑intelligence‑powered agents could inadvertently trigger a rapid outflow of funds from traditional bank deposits. While AI technologies promise to streamline personal finance management and improve the efficiency of savings decisions, Slok points out that thes…
Sept. 28, 2026, 1:06 p.m.
Markets
Apollo's Torsten Slok cautions that AI agents might siphon off inexpensive bank deposits
In a recent commentary, Torsten Slok, chief economist at Apollo Global Management, raised a cautionary flag about the emerging role of artificial‑intelligence‑powered agents in the retail banking sector. While many celebrate AI for its ability to automate routine tasks and enhance customer experiences, Slok emphasizes that the same technology could inadvertently create a new form of financial ins…
Sept. 28, 2026, 1:06 p.m.
Markets
Bitcoin Slides to $83,000 as Altcoins Reverse Friday’s Surge
Bitcoin’s price slipped to roughly $83,000 on Friday, marking a 1.7% decline from the previous session. The broader cryptocurrency market mirrored this downward pressure, with the CoinDesk 100 index shedding 2.6% as many of the day’s leading performers erased their earlier gains. At the same time, crude oil prices rebounded, climbing back above the psychologically important $100 per barrel thresh…
Sept. 28, 2026, 10:15 a.m.
Markets
Bitcoin Slides to $83,000 as Altcoin Gains Reverse After Friday Surge
On the latest trading day, Bitcoin experienced a modest pull‑back, slipping 1.7 percent to settle around the $83,000 level. The dip, while not catastrophic, was enough to shift market sentiment and trigger a broader correction across the cryptocurrency sector. The broader CoinDesk 100 index, which tracks the performance of the top 100 digital assets, fell 2.6 percent, reflecting a widespread unwi…
Sept. 28, 2026, 10:15 a.m.