Muse AI agent could trigger bank run, warns Apollo economist

Muse: Muse is Meta's personal AI agent launched in early September 2026 that connects to users' financial accounts via Plaid to track spending, identify savings opportunities, and assist with personal finance tasks. In the context of this news, it exemplifies AI agents that could automatically shift deposits to higher-yield accounts, potentially pressuring banks' cheap funding sources. Apollo chief economist Torsten Sløk highlighted this risk in recent analysis. Torsten Sløk: Torsten Sløk is the chief economist at Apollo Global Management who issued a warning about AI agents triggering an 'agentic bank run.' In this news, he is the economist referenced for outlining how widespread adoption of tools like Muse could erode banks' low-cost deposits by optimizing cash to better-paying accounts. AI Agent Capabilities: Personal AI agents such as Muse can connect to banking data to monitor transactions and suggest optimizations for user cash balances. Banking Industry Concern: Economists have noted that AI-driven deposit shifting could challenge banks' reliance on low-yield checking accounts for lending activities.