What the fuck is a bank trying to do with AI that existing statistical models and if statements don't already solve?
Who bears the consequences when the AI erroneously approves or denies someone?
this post was submitted on 27 Jan 2026
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AI, in this case, refers to LLMs, GPT technology, and anything listed as "AI" meant to increase market valuations.
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Who bears the consequences when the AI erroneously approves or denies someone?
Easy: the American taxpayer.
Yeah, I was gonna say, that's what happened after the 2008 financial crisis... they just asked the computer who do foreclose on and it spit out hundreds of thousands of names... some of whom should not have been foreclosed. The government just let the banks say "oops, sorry, nothing we can do."
What the fuck is a bank trying to do with AI that existing statistical models and if statements don't already solve?
fire expensive experts that provide mostly true and accurate answers
Who bears the consequences when the AI erroneously approves or denies someone?
Taxpayers when the inevitable bailout is issued
thank you for being so informative
It’s BofA. They’re pretty much the definition of unethical and predatory banking.
Where Deutsche? Hopefully not out back laundering drug money and facilitating kiddie sex traffickers, oh wait. I'm starting to think these banks are all scumbags, hmm...
WF is also horrid, but they at least understood what they were doing was so heinous that they tried to hide it. Definitely cognizance of guilt; shitty, but at least that implies they knew it was absolutely wrong. But BofA doesn’t even pretend to not be predatory, and does horrible things as a matter of official business policy, so I do actually think they take the cake here. They only stop doing awful shit to their customers (e.g. processing transactions in the most negatively impactful order for an account, so that they can scrape up various - and repeated! - overdraft fees) when regulatory agencies make them stop.
What the fuck is a bank trying to do with AI that existing statistical models and if statements don’t already solve?
US Banks bet 100% on a Harvard debt derivitization algorithm before 2008. No one checked if it was valid.
Who will tell them that mechanics don't drive cars, and drivers don't repair engines?
AI probably told them that mechanics drive.
Thats the point he's making. He's saying things are so bad with operating AI that the mechanics are now driving.
Not sure why he specifies that the mechanics live nearby.
Jensen Huang out here cosplaying like Deus Ex-Husband.
Looks like he's wearing a trash bag in the thumbnail.
The bag is wearing the thrash inside actually.
I have personal rules against margin accounts. But I do suspect people will grow very wealthy with a short position.