“The bank introduced its AI-powered chatbot, Erica, to speed transactions, including transferring and depositing funds. Erica works by understanding voice or text commands to complete these transactions in minutes. And, customers have responded. In the first three months, more than one million people downloaded Erica Chase has rolled out numerous digital initiatives and introduced new…
Tag: JP Morgan Chase
JP Morgan expands dive into machine learning with new London research centre
“The US investment bank has recently launched a Machine Learning Centre of Excellence (ML CoE) in London and has hired Chak Wong who will be responsible for overseeing a new team of machine learning engineers, technologists, data engineers and product managers.” https://www.thetradenews.com/jp-morgan-expands-dive-machine-learning-new-london-research-centre/ Chak Wong Head of London Machine Learning Centre http://linkedin.com/in/wongchak
Banking automation’s potential can unlock more than $70B in value by 2025 | Banking Dive
“Automation could help North American banks unlock up to $71 billion in value by 2025, according to an Accenture study released last week. Banks were projected to invest more than $5 billion in artificial intelligence in 2019, according to a September report by International Data Corp. The Accenture study cited account reconciliation and data entry and…
JPMorgan CIO Says AI Holds Promise for Helping People Save
“JPMorgan Chase & Co. Chief Information Officer Lori Beer said artificial intelligence could help the bank develop new products and services for helping people build retirement savings, among other things. About 25% of working Americans say they have no retirement savings at all and 44% worry that their saving isn’t on track, according to a…
AI At JPMorgan Chase—Breadth, Depth And Change
“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…