Wall Street CEOs’ First Reactions to Anthropic’s Mythos

Banks are among the most enthusiastic adopters of A.I., but also the most exposed to the technology’s growing cybersecurity threats. That vulnerability came into sharper focus earlier this month with the release of Anthropic’s Mythos Preview, a highly advanced A.I. model that’s drawn concern across Wall Street. On earnings calls, JPMorgan Chase CEO Jamie Dimon and Goldman Sachs’ David Solomon said they are testing Mythos to better understand the new risks that come with rapid advances in A.I.

“A.I.’s made it worse, it’s made it harder,” Dimon told analysts today (April 14). “While we’re trying to get the benefit of A.I., we’re also very cognizant of the risks.”

Those risks are central to Mythos, which Anthropic describes as too dangerous to release publicly because of its ability to exploit vulnerabilities in critical software. Instead, the company has invited a consortium of major businesses, including JPMorgan, to test the model internally for use in strengthening their cybersecurity defenses.

The preview effort, called Project Glasswing, takes its name from the glasswing butterflies, which use transparent wings to hide in plain sight—a metaphor Anthropic says reflects how hidden cyber weaknesses can evade detection. The initiative, which includes other Wall Street banks as well as Apple, Google and Nvidia, will be funded by $100 million in model usage credits from Anthropic.

The release of advanced models like Mythos has created “additional vulnerabilities” beyond banks,  Dimon said. “Banks, of course, are attached to exchanges and all these other things that create other layers of risks. It’s a complex one.”

Dimon, who has led JPMorgan for two decades, emphasized that cybersecurity remains a top priority for the nation’s largest bank by assets and market capitalization. “We spend a lot of money. We’ve got top experts. We’re in constant contact with the government.”

Following the Mythos release, U.S. Treasury Secretary Scott Bessent and Federal Reserve Chair Jerome Powell convened leading Wall Street executives in Washington, D.C. last week to discuss the newfound threats posed by the model. While Dimon was reportedly unable to attend, peers including Bank of America’s Brian Moynihan, Citigroup’s Jane Fraser, Morgan Stanley’s Ted Pick and Wells Fargo’s Charlie Scharf joined the meeting. Officials of foreign central banks, including the Bank of Canada and the Bank of England, are hosting similar briefings with top financial leaders.

Solomon also attended the Treasury meeting. Goldman Sachs, he said during his bank’s earnings call yesterday (April 13). “Obviously, the LLMs are making rapid progress,” Solomon told analysts. “We’re hyper-aware of the enhanced capabilities of these new models.”

Despite their caution, both Dimon and Solomon remain confident that A.I. will ultimately transform banking for the better. JPMorgan has already applied A.I. to more than 500 use cases, while Goldman has used it in coding and translation and earlier this year partnered with Anthropic to incorporate its Claude model across accounting and compliance.

“It will not be a straight line whenever you have acceleration in new technology,” said Solomon. “There are going to be bumps, and there are going to be risk issues, and there are going to be recalibrations.”