Alarm bells 🔔 - Ex-Anthropic employee gives grave AI warning, BMO comes for challenger banks.

Anthropic researchers are warning that frontier AI systems could pose an existential threat within the next decade, as concerns grow that models are nearing the ability to improve themselves while leading labs remain locked in a race to build them first. Plus, BMO will become the first of Canada’s Big Five banks to offer commission-free stock, options, and ETF trading, a bid to win younger investors and blunt the advantage enjoyed by digital brokerages and challenger banks. And in The Big Picture: Apple unveils its US$2,000 foldable iPhone, Unifor asks Ottawa to penalize companies that shift Canadian production to the U.S., Iran and the U.S. escalate attacks around the Strait of Hormuz, OpenAI adds a government AI safety adviser to its board, Enbridge nears a major pipeline deal, and more. The Peak Daily is produced in partnership with reframevid.com