Jamie Dimon Just Said 5 Words Blocking Outside AI Agents From JPMorgan Accounts: "You Don't Want Rogue Agents." Here's Why That Security Stance Matters for JPM and Its Tech Rivals.

Agentic AI is often described as the next wave of artificial intelligence (AI) technology. With AI agents, people can use AI to automate various tasks for them, at work and in their personal lives. A prominent recent example is Meta Platforms (NASDAQ: META), which made a big splash in September with the launch of Muse, its personal AI agent.

Meta's Muse is designed to help people offload some of their everyday online tasks, like sending emails, filling out forms, booking travel, and even shopping. It reached the rare milestone of 10 million downloads after only 40 days on the market and was widely praised for its ease of use and making agentic AI "real" for consumers. If users give permission and access to their banking and credit card data, Muse can even help people with financial tasks and managing money, like setting a budget, negotiating bills, or canceling unwanted subscriptions.

But what if banks don't allow Muse (or other AI agents) to connect to their customers' accounts? There are cybersecurity and liability questions involved with allowing people to use AI agents for sensitive financial tasks like managing a bank account, trading stocks, or making credit card payments. Not every bank is on board with this.

Last month on the bank's quarterly earnings call, Jamie Dimon, CEO of JPMorgan Chase (NYSE: JPM), sounded a five-word warning about the future of AI agents for banking. He said, "You don't want rogue agents."

Let's look at what Dimon's remarks might mean for AI agents -- and why JPMorgan Chase is not the only company figuring out how to accept outside AI agents.

JPMorgan Chase CEO Jamie Dimon. Image source: JPMorgan Chase & Co.

Jamie Dimon: "not gonna allow just any" AI agent into the bank

Banks must follow strict regulations called "Know Your Customer" rules. That means banks are required to know who is accessing an account, who is authorizing a transaction, and other details to identify customers to help prevent financial fraud and money laundering. AI agents could potentially bring complexity and added risk to banks' "Know Your Customer" compliance.

What if an AI agent "goes rogue" and makes an unauthorized transaction, or is used to commit financial crimes? What if an AI agent gets into a part of the customer's account that the customer didn't allow? What if a customer later claims that a purchase was fraudulent, even though the customer allowed their AI agent to execute the transaction?

Most banks would rather not deal with these hassles and extra risks. Allowing third-party agents like Meta Muse might create liabilities for banks and their customers that banks can't control and didn't choose.

On the October earnings call, Jamie Dimon also said that at JPMorgan Chase, "we are not gonna allow just any agent to come, outside agent to come inside the company because it is just too risky for clients and for JPMorgan."

JPMorgan is not alone: United Airlines restricts AI agents

On Wednesday, United Airlines(NASDAQ: UAL) announced that it is restricting access for unauthorized third-party AI agents or assistants. The airline's statement referred to the risks of AI agents causing unauthorized bookings, unintended usage of airline frequent flyer miles, and possible violations of FAA and DOT safety regulations for airline passengers.

United Airlines is another example of a business in a heavily regulated industry that must manage sensitive transactions and confidential customer data. And they're tapping the brakes on AI agents. If other banks and airlines adopt this same security-oriented stance, the future of personal agentic AI for companies like Meta Platforms might become less user-friendly -- and less profitable.

JPMorgan Chase is an advertising partner of Motley Fool Money. Ben Gran has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase and Meta Platforms. The Motley Fool has a disclosure policy.