RBC considers blocking Meta’s Muse AI agent, CEO Dave McKay says

Author: Bloomberg Television · Watch on YouTube

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Original language: English

Original video: RBC considers blocking Meta’s Muse AI agent, CEO Dave McKay says · Channel: Bloomberg Television · 01:01 · Watch on YouTube

Topics: AI agents, Enterprise AI applications, AI governance and regulation, Privacy and data protection

Summary

RBC CEO Dave McKay says the bank is considering whether to block Meta’s Muse AI agent, but has not made a decision. He says RBC must assess customer safety, privacy, consent, and whether transactions can be monitored safely. The bank may also consider developing its own capabilities. McKay says RBC is working through the details and will balance consumer needs with protecting the privacy and safety of the system.

Key points

RBC is considering whether to block Meta’s Muse AI agent.
The bank has not yet made a decision.
McKay cites safety, soundness, and privacy as issues RBC must assess.
RBC is weighing how to protect customers while providing services they want.
The bank may consider creating its own capabilities.
McKay says consumers must be protected if transaction data is taken or scraped without consent.
RBC could be liable as an organization if consumers are not protected.
The bank says it will avoid a rash decision and balance consumer needs with system privacy and safety.

Chapters

Start	Chapter	Summary
00:00	RBC weighs whether to block the AI agent	McKay says the question is on RBC’s radar as it considers customer protection, privacy, and whether to build its own capabilities.
00:30	Consumer protection and liability	McKay says RBC must protect consumers if transactions cannot be monitored safely or data is taken without valid consent.
01:01	Balancing safety and consumer needs	McKay says RBC is working through the details and will balance consumer needs with the privacy and safety of the system.

Quotes

We haven’t made a decision yet. — 00:00

certainly something that is on our radar screen. — 00:00

you have to protect that consumer — 00:30

we’re not going to make a rash decision — 01:01

we have to balance the needs of a consumer with the privacy and safety of the system. — 01:01

Concepts and entities

RBC, Meta, Muse AI agent, Dave McKay, Brian Moynihan

Full transcript (original language)

00:00 Have you blocked news? >> Um, it’s something I’m thinking about, absolutely. The end of the day as we look at the safety and soundness privacy issues there, we have to get our heads around how we protect our customers and we at the same time offering the services they want or do we create our own capability set around that as well. So, certainly something that is on our radar screen. We haven’t made a decision yet. >> What’s prompting you to go one way or the other? What kind of calculations do you have to make? We spoke with Brian Moynihan in the last week or so and he said you need a human in the mix because what happens if someone makes a

00:30 transaction and says it wasn’t me? Who’s on the look at the hook? What’s the liability? What are your attorneys telling you? Your lawyers? What’s the legal advice you’re getting? >> At the end of the day is protecting consumers and doing what’s right for consumers is critical and if you can’t monitor the transactions safely and that data is being scraped or taken away without their consent and or fraudulent consent, you have to protect that consumer and then we’re we’re liable for that as an organization. So, we have to make sure we protect the consumer and therefore protect uh, the system and going through that and we’re working

01:01 through those details now and we’re not going to make a rash decision, but we have to balance the needs of a consumer with the privacy and safety of the system. We’ll do that.