“The bank revealed in November that AI has already started generating revenue for the bank. Though it didn’t divulge a dollar figure, JPMorgan had already set a target of $1 billion in “business value” produced entirely by AI in 2023. The firm even increased that goal to $1.5 billion at its investor day in May,…
How generative AI can help banks manage risk and compliance – McKinsey & Company
“Data and tech demands Banks shouldn’t underestimate the data and tech demands related to a gen AI system, which requires enormous amounts of both. Why? For one, the process of context embedding is crucial to ensure the accuracy and relevance of results. That process requires the input of appropriate data and addressing data quality issues….
What Should We Expect From AI In 2024?
“Multimodal This one may come across as more technical than others, but it is a critical development in AI that will affect every job and use case. While AI has always been data-dependent, AI solutions have historically been quite unimodal. What does this mean? It means that the type of AI depends a lot on…
Experts: AI Will Make Life More Convenient But Less Pleasurable
“AI will most likely simplify our daily tasks, but it will degrade our personal lives, according to a new report from Elon University. Errands will take less time, but we’ll see a dip in privacy, relationship quality, mental health, and spiritual pursuits. Experts polled by the university’s Imagining the Digital Future Center warn of a…
Is there anything AI can’t do?
“FlowGPT emerges as the digital embodiment of the Wild West, a place where the law is more of a suggestion and safety measures are those annoying things you click past to get to the good stuff. Founded by a duo who seemingly decided that what the world really needed was a marketplace for AI apps…