- “JP Morgan is co-hosting the first ever international peer-reviewed conference dedicated to AI in finance. This looks at the ways in which JPMorgan Chase seek to implement AI and Machine Learning both now and in the future.
- AI shall enable banks to create new and improved financial products and solutions by virtue of simply having more data to make products/solutions that more people want/need
- Ai will enable banks to reach a wider proportion of the population. A 2018 World Bank report suggests that around the world, 1.7 billion people are “under-banked”, not due to a lack of desire or need for financial services in those areas but rather a lack of availability and access to specialised products. Those banks which can expand their reach using AI can see big gains.”