Banks in the United States are warning that the rise of AI-powered chatbots could prompt customers to move their savings to accounts offering better interest rates, raising concerns about financial stability. Industry experts suggest these automated tools may make it easier for consumers to compare and switch banks, potentially accelerating a trend already underway. The shift could force lenders to compete more aggressively for deposits, impacting their profitability and lending capacity. Regulators and financial institutions are closely monitoring how these technologies might reshape traditional banking relationships.
US lenders fear chatbots could shift billions of dollars in deposits to higher-yielding accounts
