JPMorgan Chase to equip 140K workers with genAI tool
“JPMorgan Chase is rolling out artificial intelligence assistant LLM Suite to 140,000 employees, the bank’s president, Daniel Pinto,said Tuesday during the Barclays Global Financial Services conference. As part of the bank’s AI strategy, assessments are also underway to identify how to optimize operational services and “every single process” using AI and large language models, Pinto added.
Project Astra: Our vision for the future of AI assistants
“Introducing Project Astra. We created a demo in which a tester interacts with a prototype of AI agents supported by our multimodal foundation model, Gemini…The agent takes in a constant stream of audio and video input. It can reason about its environment in real time and interact with the tester in a conversation about what it is seeing.”
Every White-Collar Role Will Have An AI Copilot. Then An AI Agent. | Andreessen Horowitz
“2. “AI-ify” a painful workflow performed *outside* of the incumbent
There are few things more tedious than the Know Your Business (KYB) onboarding process in banking, which involves document checking, internet searching, and back-and-forth correspondence between businesses and financial institutions. Companies like Parcha.comwill auto-parse every document that’s uploaded, extract the needed information, and follow up with the customer for missing information.”
Banks bet on a tech surge. It’s paying off big time as AI, software bring ‘sea change’ in productivity
“Bankers are generating more revenue for their companies than ever. With the help of a steady stream of technological innovations—from online banking to artificial intelligence—the per capita contribution of bank workers has grown $98,000 since 2009. Put another way, financial firms would require 400,000 additional bankers to generate today’s levels of revenue had productivity remained unchanged from 15 years ago.”
Branch innovation, AI claim top spots in Bank Customer Experience Awards
“Innovator of the Year: SF Fire Credit Union
SF Fire Credit Union took home the top award at the event, winning Innovator of the Year for its Stonestown branch. DBSI Inc. nominated the credit union for its modernization work, which included technology and transformed employee training.”