Analysts warned of the risk of banks losing $170 billion due to the growth of AI agents

The banking sector faces the risk of losing up to $170 billion in profits due to the growing popularity of artificial intelligence (AI). Analysts at McKinsey believe that autonomous financial agents capable of independently finding more favorable conditions for storing funds could change customer behavior, leading to a decline in bank revenues. It is likely that AI agents will encourage customers to transfer money from low-interest accounts, pointing to savings when switching to other financial institutions.

Source Incrypted

Research shows that customers currently hold about $23 trillion of their $70 trillion in assets in accounts with minimal interest rates. It is believed that the introduction of AI agents to manage these assets could reduce bank profits by 9%. Although banks hope to save up to 20% in costs thanks to their own AI technologies, competition could absorb these benefits, forcing financial institutions to adapt to new market conditions before the situation stabilizes. Experts predict that these changes could lead to structural transformations in the financial sector, including cost optimization and income redistribution in favor of consumers.