“JP Morgan Chase has moved AI spending into its core infrastructure budget, underscoring a shift in how the bank views the technology as it becomes central to day-to-day operations. The world’s largest bank has reclassified AI investment from “discretionary innovation” to “core infrastructure”, placing it alongside data centers, payment systems, and core risk controls. With an annual technology budget…
Tag: Financial Services
Dimon: AI’s effect on labor market ‘may go too fast for society’
“Two decades ago, JPMorgan’s biggest competitors were Bank of America, Wells Fargo, Goldman Sachs and Morgan Stanley. Today, that list includes Stripe, PayPal, Dave, Chime, SoFi, Revolut and other fintechs, Dimon said. ‘They’re coming at you, some to pick a sliver of the business, some to take your whole business,’ the CEO said. ‘If you…
Agentic AI in Banking Will Follow Three Tracks. Fintechs Lead in All of Them
“Adaptive Experiences Create Segments of One Algorithmic personalization has become baseline expectation, with customers increasingly expecting products and services tailored to unique preferences. However, only 21% of banking customers report being fully satisfied with personalization they currently receive. Market leaders will pioneer next-generation adaptive customer experience interfaces where personalization emerges dynamically, with customer journeys shaped…
Banking on AI: Risk, readiness, and the next frontier
“The Texas Responsible Artificial Intelligence Governance Act, which will become effective on January 1, 2026, applies across industries to AI systems used in business, commerce, healthcare, government, and consumer interactions. The Act broadly prohibits any discriminatory or manipulative practices and improper handling of personal information in the use of AI — exempting financial institutions only to…
Modern banking, reinvented: CIBC’s blueprint for successful AI transformation
“A framework any leader can apply CIBC’s journey offers a clear, actionable model for enterprises in any regulated industry: Read more >>