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Apollo economist warns AI agents could trigger bank deposit runs

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Coverage spectrum

Covered by 3 outlets across the spectrum.

3 articles in total. The spectrum counts each outlet once and leaves opinion out. How we measure bias

Torsten Sløk, chief economist at private-equity firm Apollo Global Management, warned in a note published Sunday that AI agents could trigger a new kind of bank run. Sløk's theory holds that AI assistants such as Meta's Muse, given access to users' finances, could automatically move cash from low-yield checking and savings accounts into higher-yield fintech accounts. National averages for checking and savings accounts are 0.1% and 0.4%, respectively, while some fintech accounts, including AdelFi and SoFi, offer 3.3% to 5%. Sløk warned that if many households used AI agents this way simultaneously, banks could lose a large share of the cheap deposits they rely on to make loans, posing a risk to the broader financial system.

Headline and summary written by Mantle’s AI from the coverage below, under published rules. How this works

What happened

Key points

Each point shows who reports it, from Far Left to Far Right.

  1. Apollo Global Management chief economist Torsten Sløk warned in a Sunday note that AI agents could spark a bank run.

    Reported byLeftCenterRight

  2. The concern centers on AI assistants like Meta's Muse gaining access to users' financial accounts and moving cash to higher-yield accounts.

    Reported byLeftRight

  3. Checking and savings accounts offer national averages of about 0.1% and 0.4%, while some fintech accounts offer up to 5%.

    Reported byLeftRight

  4. Sløk warned that if many households did this simultaneously, banks could lose a large share of cheap deposits needed for lending.

    Reported byLeftRight

  5. Apollo runs a large private-credit lending arm that competes with banks.

    Reported byLeft

How each side tells it

Compare views

  • the left

    1 outlet

    Business Insider's headline centers on AI assistants helping consumers maximize cash as the trigger for a possible bank run, framing it from the consumer's perspective.

    AI assistants helping people maximize their cash could trigger a bank run, Apollo's chief economist warns
    Business InsiderLeftAll left-leaning headlines

  • the center

    1 outlet

    MarketWatch's headline frames the story broadly around Muse and other AI agents as potential sparks for a bank run, with a brief note-style description.

    How Muse and other AI agents could spark a bank run, according to an economist
    MarketWatchCenterAll center headlines

  • the right

    1 outlet

    The New York Post's headline emphasizes AI agents 'yanking' cash from low-paying accounts, framing the phenomenon in more dramatic terms while also questioning the broader trend of AI doom predictions.

    AI agents could spark bank runs by Loaded verb“yanking cash”Implies a forceful, sudden action rather than a described automated transfer, adding drama beyond the facts.More neutral: moving cashDisagree with this highlight? from low-paying accounts: Apollo economist
    New York PostRightAll right-leaning headlines

The words they chose

Language to notice

Words that carry a judgement beyond the facts. Tap a highlighted word anywhere on the page to see why.

  • Left1

    deposit exodus

  • Center0

    No loaded words in its own voice.

  • Right4

    dire predictionwave of doomerismthe egghead explainedyanking cash

In the outlets’ own words

  • Sensational language

    deposit exodusMore neutral: large withdrawal of deposits

    Adds dramatic framing to what is a speculative shift of funds rather than an established mass departure.

    …at the giant private equity firm Apollo says your AI assistant could trigger a deposit exodus in traditional banks.

    Used byBusiness Insider (Left)

  • Loaded modifier

    dire predictionMore neutral: warning

    Characterizes the economist's warning with judgmental framing rather than neutral description.

    …chasing higher yields, Apollo chief economist Torsten Sløk warned — the latest dire prediction about artificial intelligence in a wave of doomerism.

    Used byNew York Post (Right)

  • Sensational language

    wave of doomerismMore neutral: series of warnings about AI risks

    Frames the broader discourse around AI risk in dismissive, dramatic terms rather than neutral description.

    …Sløk warned — the latest dire prediction about artificial intelligence in a wave of doomerism.

    Used byNew York Post (Right)

  • Loaded modifier

    the egghead explainedMore neutral: he explained

    Uses a mocking label for the economist instead of a neutral descriptor.

    …information while taking on a growing range of tasks on their behalf, the egghead explained.

    Used byNew York Post (Right)

Show 1 more phrasesShow fewer

  • Loaded verb

    yanking cashMore neutral: moving cash

    Implies a forceful, sudden action rather than a described automated transfer, adding drama beyond the facts.

    AI agents could spark bank runs by yanking cash from low-paying accounts: Apollo economist

    Used byNew York Post (Right)

See the full language guide

See for yourself

Side by side

What each side leads with and what it leaves out. Open a side to read its headlines.

From the left

1 outlet

Leads with

  • how the AI-to-fintech shift would work
  • Apollo's competing private-credit business
  • specific dollar/percentage comparisons
See the headline from the leftHide the headlines

From the center

1 outlet

Leads with

  • the economist's warning as the central point
  • brevity of the original note but significance of implications

Leaves out

  • specific interest rate figures
  • Apollo's own private-credit business

Reported by other sides, not found in this side’s coverage.

See the headline from the centerHide the headlines
  • MarketWatchCenter

    How Muse and other AI agents could spark a bank run, according to an economist

    The note was brief, but the implications are big: The chief economist of private-equity giant Apollo Global Management thinks agentic AI could spark a bank run.

    Read at MarketWatch (opens in a new tab)

From the right

1 outlet

Leads with

  • mechanics of cash moving from banks to fintechs
  • specific list of high-yield accounts
  • skepticism toward a wave of AI 'doomerism' predictions

Leaves out

  • Apollo's competing private-credit lending business

Reported by other sides, not found in this side’s coverage.

See the headline from the rightHide the headlines
  • New York PostRight

    AI agents could spark bank runs by Loaded verb“yanking cash”Implies a forceful, sudden action rather than a described automated transfer, adding drama beyond the facts.More neutral: moving cashDisagree with this highlight? from low-paying accounts: Apollo economist

    AI agents could spark a new kind of bank run by automatically yanking consumers' cash out of low-paying checking accounts and chasing higher yields, Apollo's chief economist warned.

    Read at New York Post (opens in a new tab)

Articles you open from here build My Mix, a private picture of how your reading spreads across the spectrum, kept on this device. What is My Mix?

The left is Far Left and Left together. The right is Right and Far Right together. Every outlet keeps its own five-point rating.

Who reported it when

How the coverage built up

  • Left

    3 hr 23 min later

    Its first report, Sep 28, 10:10 AM EDT

  • Center

    First to report

    MarketWatch, Sep 28, 6:47 AM EDT

  • Right

    8 hr 15 min later

    Its first report, Sep 28, 3:01 PM EDT

See the order the outlets reported inHide the order
  1. MarketWatchCenterSep 28, 6:47 AM EDT
  2. Business InsiderLeftSep 28, 10:10 AM EDT
  3. New York PostRightSep 28, 3:01 PM EDT

Times are the ones the outlets published in their own feeds, in Eastern time. Opinion is left out.

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