Tag: ai Banking

AI At JPMorgan Chase—Breadth, Depth And Change

~ Brandon McGee ~ Leave a comment

  • “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.”

https://www.google.com/amp/s/www.forbes.com/sites/tomdavenport/2019/11/12/ai-at-jpmorgan-chasebreadth-depth-and-change/amp/

Sandra Nudelman

Chief Data and Analytics Officer of Chase

http://linkedin.com/in/nudelman

Web Seminar How banks are winning with AI and automated machine learning

~ Brandon McGee ~ Leave a comment

Dec. 03, 2019 | 2 PM ET/11 AM PT

Hosted by American Banker

“Topics include:

  • Some of the highest value uses of AI in every line of business and function in a bank
  • How banks can mitigate the data science talent shortage
  • Case studies describing how leading practitioners are leveraging automated machine learning today
  • Simple rules for spotting high-value use cases within your own organization”

http://pages.marketing.americanbanker.com/20191203_abp_datarobot_ws_lp.html?source=abp-email

TD Ameritrade Beefs Up Personalization With AI

~ Brandon McGee ~ Leave a comment

  • “Vijay Sankaran, chief information officer at TD Ameritrade Holding Corp., is betting that artificial intelligence-powered customer service and personalization will help it stand out from competitors.
  • The Omaha, Neb.-based brokerage firm, which has about 12 million client accounts, is using AI to drive customized experiences for investors. “We want to be more of a Netflix-style or Spotify-style personalization engine for digital investing,”
  • The eight-person team is now working on an AI engine called “voice of the customer analytics,” which builds on AI-based text and voice chatbots the company launched in 2017.
  • In 2021, AI augmentation is expected to generate $2.9 trillion in business value, up from $1.6 trillion this year, according to Gartner.”

https://www.google.com/amp/s/www.wsj.com/amp/articles/td-ameritrade-beefs-up-personalization-with-ai-11574115074

TD Ameritrade CIO Vijay Sankaran

http://linkedin.com/in/vijay-sankaran-762a9

Naver and SoftBank to form joint venture

~ Brandon McGee ~ Leave a comment

“Once the move is concluded, Z Holdings will effectively run Line, Yahoo Japan, Yahoo Shopping, ZOZO, and Japan Net Bank. The move will secure “Japan and Asia’s largest user base” and create synergy to compete against global platform businesses, the pair said.

Naver and SoftBank will apply artificial intelligence in the future to continue growth in financial technology through the integration, they said.

Chat app Line boasts 82 million users worldwide and Yahoo Japan 50 million.”

https://www.google.com/amp/s/www.zdnet.com/google-amp/article/naver-and-softbank-to-form-joint-venture/

How AI and Facial Recognition Are Impacting the Future of Banking

~ Brandon McGee ~ Leave a comment

“We are seeing the financial services sector test face recognition as a part of multi-factor authentication for ATM withdrawals, mobile banking enrollment and mobile account access and transactions,” said Moore. “By implementing face recognition as the key step in multi-factor authentication, banks are able to mitigate their exposure to risk and fraud, saving themselves millions of dollars in the process.”

https://www.google.com/amp/s/observer.com/2019/11/trueface-artificial-intelligence-facial-recognition-future-banking/amp/