Apollo Economist Warns AI Agents Could Move Household Cash From 0.1% Checking to 5% Accounts

Apollo Global Management Chief Economist Torsten Slok warned that consumer AI agents could create a new form of deposit flight by automatically moving household cash out of low-yield checking accounts and into higher-yield fintech accounts. The risk he described is not a classic panic at bank branches, but a software-driven shift in which agents optimize for yield at scale.