“Bank of America’s AI rollout is also well underway. The bank’s CEO Brian Moynihan says its use of AI is already embedded across the firm, from consumer banking to institutional clients. Its virtual assistant, Erica, handled 2 million customer interactions in a single day and can now answer 700 types of questions — up from…
Tag: Goldman Sachs
Ai Weekly – Jan 26
Agentic AI – Finance & the ‘Do It For Me’ Economy “The financial services sector is the second largest consumer of GenAI after the telecom and media sector. Historically, banks are the biggest spender on technology (outside of the tech industry). This trend will likely continue with GenAI and agentic AI too. Agentic AI Use…
Fintech Roundup: Goldman Sachs buys another startup, Fast hits a speed bump and BaaS gets hotter
“Fintech M&A hasn’t been as robust as one might expect in recent months. So when Goldman Sachs announced this week it was buying NextCapital – a fintech company that provides automated advice to corporate retirement plan participants – my ears perked up. In the case of NextCapital, which uses algorithms and automation to allow users…
Goldman Sachs is considering an AI assistant for Marcus
“Goldman Sachs is looking to roll out AI-enabled money management tools for Marcus, its digital-only bank The ability to view recurring charges, such as for online services or bills, was called “extremely valuable” by 42% of mobile banking users who responded to Business Insider Intelligence’s Mobile Banking Competitive Edge Report” https://www.businessinsider.com/goldman-sachs-mulling-rollout-of-marcus-ai-assistant-2020-7
You Now Need To Code To Work On Wall Street
“Before retiring from top-tier investment bank Goldman Sachs, Marty Chavez, the firm’s tech evangelist, predicted that it will be as important for traders to know how to code as “writing an English sentence.” About 75% of Citi’s trading activities were conducted electronically in 2019. One of the largest expenditures at the banks is technology. They…