Apollo Warns AI Agents Could Trigger Mass Deposit Flight From US Banks

Apollo Global Management chief economist Torsten Slok warns that AI agents could cause a significant bank run by automatically shifting household cash from traditional bank accounts, which average 0.1% interest, to fintech platforms offering 3.3% to 5.0% yields. Slok suggests that widespread adoption of these tools could deprive banks of the low-cost deposits necessary for lending, potentially destabilizing the financial system.