Anthropic curbs and cost fears spur banks to shop around for AI

Banks are rethinking their dependence on US-based AI models due to growing concerns over costs and the geopolitical climate, which has become increasingly unpredictable. The push to explore alternative AI solutions comes as firms like Anthropic impose restrictions and hike prices, pushing financial institutions to diversify their tech suppliers. This shift is crucial as banks aim to secure more cost-effective and reliable AI tools to maintain competitive edge and regulatory compliance amid rising operational expenses.