AI At JPMorgan Chase—Breadth, Depth And Change

  • “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.”

Sandra Nudelman

Chief Data and Analytics Officer of Chase

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