Penny Crosman

Key insight: Bank of America's CEO is emphasizing accuracy of AI models, where others focus largely on efficiency and cost savings.

Podcast Transcription: Penny Crosman (00:03): Welcome to the American Banker Podcast. I'm Penny Crosman.

More than a third of U.S. bankers cannot say with confidence that they have kill switches for their AI models. Executive Editor, Technology at Arizent

| Key insight: The U.S. government told Anthropic to shut down its most powerful AI model and the company complied.

The Depository Trust & Clearing Corporation, the enormous vault and clearinghouse for most Wall Street trades, is building the ability to let securities become digital assets, while continuing to process the trading and custody of them.

Kristin Milchanowski, the bank's chief AI and data officer, shared some of her AI leadership dos and don'ts at American Banker's Digital Banking Conference.

The Cincinnati bank has launched a navigational aid to help customers get to what they need in fewer steps.

The bank is following in the footsteps of Goldman Sachs, which made a similar move in April.

The service is an alternative to an IPO or a special-purpose vehicle, the bank says.