American multinational financial services company and the world’s fourth-largest bank by market capitalization Wells Fargo recently announced the establishment of a new Artificial Intelligence Enterprise Solutions team. Armed with several hundred employees, the company has begun to pilot an AI-driven chatbot through the Facebook Messenger platform.
JPMorgan Chase recently announced its COiN platform or the Contract Intelligence platform developed to analyse legal documents for information.
Through Citi’s global corporate venturing arm, Citi Ventures, the bank has invested in Feedzai, a data science company that detects fraud in online and in-person banking. Through its continuous and rapid evaluation of large amounts of data, Feedzai is empowered to conduct large-scale analyses identifying fraudulent or questionable activity alerting the customer.
Bank of America
One of the world’s largest financial institutions, and celebrating a decade of mobile banking this year, Bank of America Corporation recently made investments into AI technology debuting with an intelligent virtual assistant named Erica. Erica was officially unveiled at the world’s largest payment and financial services innovation event, the 2016 Money 20/20 conference held in Las Vegas.”