- “Most large banks in the US are pursuing AI fairly assiduously, but JPMorgan Chase stands out for the depth of its commitment to the technology
- JPMorgan Chase spends $11 billion a year on technology, and about half of that amount is devoted to research on new and emerging technologies.
- In 2018 the bank brought in Manuela Veloso, then head of machine learning at Carnegie Mellon, to head the JP Morgan AI Research organization.
- Also in 2018, Apoorv Saxena was recruited to lead a Silicon Valley-based “AI and Machine Learning Services” organization.
- Within Chase, there is an AI/ML Council that meets monthly to discuss projects and assess emerging challenges.”
Chief Data and Analytics Officer of Chase