Axios Live: AI agents are changing how money moves

LAS VEGAS — The proliferation of AI agents in banking and trading is presenting unresolved questions about reliability, liability and regulations, financial experts said at an Axios event.Why it matters: Introducing AI into commerce could streamline aspects of the consumer experience across banking, shopping and trading; however, establishing trust in the agents is still a work in progress.Axios' Ryan Lawler and Lucinda Shen spoke to Federal Deposit Insurance Corporation chairman Travis Hill and Alpaca co-founder and CEO Yoshi Yokokawa. The Oct. 20 event was sponsored by J.P. Morgan.What they're saying: Hill pointed to the advent of advanced technology as helping to streamline banking. "It's very easy for consumers to move money around to different banks," he said.But as agents gain more power to move money, "there's just a big question of to what extent are depositors going to delegate that type of decision-making authority to these types of agents," Hill added.Case in point: "Who is liable when something happens, when the agents go rogue and start doing some criminal activity, or even just do some bad trade and lose money?" Yokokawa posited when discussing restrictions on fully …

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