Reuters · October 14, 2026

Executives at Largest U.S. Banks Discuss AI Financing and Internal AI Use on Earnings Calls

• Executives at the largest U.S. banks this week discussed risks related to AI agents acting on customers' behalf and uncertainty about demand for capital and computing power, as reported by Reuters.
• Goldman Sachs CEO David Solomon told analysts that no one knows how demands for capital and compute will evolve as the AI ecosystem matures, according to the report.
• Citigroup CEO Jane Fraser said the bank is developing products at lower cost and up to 40% faster using AI, and that coding tools have reduced tech vendor expenses by 30%, according to the report.
• Wells Fargo CEO Charlie Scharf told analysts the AI buildout presents both opportunities and risks, according to the report. Morgan Stanley Chief Financial Officer Sharon Yeshaya said in an interview with Reuters that the bank was discerning about the types of risks it was taking, according to the report.
• JPMorgan CFO Jeremy Barnum said the financial benefits of AI are not yet observable in the bank's quarterly earnings, according to the report. JPMorgan CEO Jamie Dimon said the bank is developing tools for agentic AI risk, according to the report.

Executive statements as reported by Reuters; differing investor views are documented in the source. This card is based on the accessible portion only. Original headline: "As Wall Street banks finance and adopt AI, risks mount on both fronts".