The rise of autonomous artificial intelligence agents could pose an unexpected threat to the banking system by systematically shifting household cash out of low-interest accounts, according to Torsten Slok, chief economist at Apollo Global Management.
A New Kind of Bank Run
Slok's warning centers on a scenario in which AI agents, acting on behalf of consumers, automatically sweep idle funds from low-yielding checking and savings accounts into higher-return alternatives. Unlike traditional bank runs driven by panic, this movement of money would be methodical, continuous and machine-driven.
For decades, banks have relied on so-called "sticky" deposits — money that customers leave parked in accounts earning little to no interest. That cheap funding base allows banks to lend at a profit. If AI tools begin optimizing personal finances at scale, that low-cost source of capital could erode rapidly.
When software starts hunting for yield on autopilot, the era of cheap and complacent bank deposits may be over.
Pressure on the Banking Model
The concern reflects a broader anxiety about how automation could reshape financial behavior. Households have historically been slow to chase better returns, often due to inertia or the hassle of moving money. AI agents remove that friction, potentially reallocating funds the moment a better rate appears.
Should deposits flow out en masse, banks may be forced to raise the interest they pay to retain customers, squeezing profit margins. Alternatively, they could face funding shortfalls that ripple through their ability to lend.
The warning arrives as the financial industry weighs the growing capabilities of AI systems capable of executing transactions with minimal human oversight. The technology promises efficiency for consumers but introduces new systemic questions for institutions built around predictable customer behavior.
- Low-interest deposits have long provided banks with cheap funding.
- AI agents could automate the search for higher yields, removing consumer inertia.
- A rapid outflow could pressure bank margins and lending capacity.
While the scenario remains hypothetical, Slok's remarks underscore how emerging technology could unsettle assumptions that have underpinned banking for generations.