ON THE GROUND

In this episode, @AnthropicAI's IPO has a bad week: the Nasdaq falls 5.5%, and three would-be investors reportedly say $1.5 trillion is too much. @Visa tests AI shopping agents and 42.8% of the runs fail, and @WellsFargo asks customers to prove they switched their agent off. Join us on the ground.

We also talk to Sam Aarons (@samaarons) of @ModernTreasury about its trust bank application, and Amr Mohamed of @Neumetria about what lenders and AI agents should know about your money.

IN THIS EPISODE:

Visa's test: 22 models, 15 shopping jobs, and more than half of the failed runs still bought something
Wells Fargo's new terms: using an AI agent is "at your own risk", and you must keep evidence you revoked it
JPMorgan, Citi and Bank of America block outside agents, while @Chime opens the door
Anthropic shows a $23.3B net loss, almost all non-cash, and about $895B of compute commitments
Modern Treasury applied to the OCC for a national trust bank charter, and is waiting for approval
Neumetria on "book me a flight for $500" and who owns the customer when agents arrive

CHAPTERS:
00:00 Cold open
01:21 This week on the ground
01:52 Sam Aarons of Modern Treasury
17:22 Amr Mohamed of Neumetria
33:53 News: Visa tests AI shopping agents
35:10 Wells Fargo: prove your agent is off
36:05 Chime: bring your own agent
38:25 Anthropic's new numbers

Follow us for a new episode every Monday on the AI, payments and banking stories that move fintech.

#fintech #AI #Anthropic #Visa #stablecoins

HOSTS:
Sam Boboev: @samboboev
Otabek Nuritdinov: @onuritdinov
Everything discussed is our own opinion and is not investment advice.
Figures are as reported at the time of recording.

@Visa gave 22 AI models 15 shopping jobs. 42.8% of runs failed, and in about 54% of the failed runs the agent still bought something.

The next round covers checkout and payment. If an agent buys the wrong TV on your card, who pays?

Presented by @formancehq

"Book me a flight for 500" cuts short what an AI agent is for, says Amr Mohamed of @neumetria.

Give it your upcoming bills, liquidity and capacity, and it knows 2,000 in the account means about 500 for the ticket.

Presented by @formancehq

@WellsFargo's new terms start 24 Nov: switch off your AI agent, keep proof, or you're still on the hook.

@jpmorgan blocked outside agents in October. Ex-Morgan Stanley and @StanChart banker Douglas Borthwick told @amerbanker why that proof is hard.

Presented by @formancehq

@ModernTreasury moves money for @GustoHQ, @Navan and @RobinhoodApp. Last month it applied for a US trust bank charter that can't lend or take deposits.

Co-founder and CTO @samaarons on why: greater control, more assets, more payment rails.

Presented by @formancehq