Billion-dollar bets, security breaches, and the growing risks behind the AI boom

AI is moving faster than ever but are the systems, businesses, and financial markets behind it ready for what's coming?

In this episode of Hardly Artificial, we explore the growing risks beneath the AI boom, starting with reports of autonomous AI agents accessing customer bank accounts. From financial automation to unauthorized transactions, we examine what happens when technology starts acting on our behalf and why giving AI access may be easier than controlling what it does next.

We also dive into a major cybersecurity scare involving PHP, the programming language behind countless websites, and discuss how AI could fundamentally change the way software vulnerabilities are discovered and exploited. Could the internet as we know it be heading for a major transformation?

Then we turn to Anthropic's reported IPO plans, eye-catching financial figures, and a proposed public benefit initiative aimed at addressing AI's impact on employment. With enormous valuations and growing uncertainty, we ask whether the AI industry's biggest opportunities are also becoming its biggest risks.

Plus, we introduce AI Courtroom, a new segment where we put a controversial prediction on trial: Will AI make traditional websites obsolete within five years? Two opposing arguments, one debate, and a verdict left to our audience.

As AI becomes more capable, the question isn't just what it can do, it's how much we're willing to trust - and how much we're willing to risk.

Chapters:

00:00 – Welcome to Episode 6
01:50 – What's Coming Up: AI Hacks, Banking & Anthropic
04:22 – AI Agents Are Accessing Bank Accounts
06:45 – The Benefits and Risks of AI Banking
09:41 – How Much Access Should We Give AI?
12:47 – The PHP Security Scare: Is the Internet at Risk?
14:35 – Could AI Change the Future of Open-Source Software?
17:57 – Are Traditional Websites Becoming Obsolete?
20:27 – Anthropic's Proposed Public Benefit Fund
23:02 – Can AI Companies Make Up for Lost Jobs?
25:58 – Anthropic's IPO: A Trillion-Dollar Valuation
27:30 – Breaking Down Anthropic's Financial Risks
30:53 – Would You Invest in Anthropic?
33:58 – Introducing AI Courtroom
36:12 – The Debate: Will AI Replace Traditional Websites?
38:58 – Opening Arguments: AI vs. the Web
41:52 – Rebuttals: Can Websites Survive?
43:27 – Closing Arguments and the Audience Verdict
45:19 – What Does the Future of the Internet Look Like?
46:33 – Final Thoughts & Happy Halloween

⚖️ AI Courtroom

Mike wins, but narrowly. Derek had the better framing, but Mike had the stronger argument.

Derek (for: websites will be obsolete in five years)

• Strongest move: Defining “obsolete” as nobody building new websites, with apps and AI assistants taking over.
• Weakest move: Saying AI will stay current by crawling fresh information, which concedes that businesses still need a source to crawl.

Mike (against: websites will survive)

• Strongest move: Businesses need a “source of truth” for prices, sales, and their own image, rather than trusting an AI’s summary.
• Weakest move: Arguing websites will still exist, which Derek never disputed.

Why Mike edges it:
Derek’s case depended on AI having reliable real-time information. Mike explained where that information comes from, and Derek never got around it.

You decide!
Will traditional websites become obsolete within five years? Watch the debate and tell us in the comments: Who made the stronger argument - Derek or Mike?