“Speaking at Tuesday’s Australian Financial Review Business Summit, Dimon revealed that he uses AI to summarize books he doesn’t have time to read, reported Reuters. He also shared that JPMorgan has 2,000 employees working on 400 use cases for AI, with the technology already being used by thousands of employees at the bank.” https://www.benzinga.com/amp/content/37610586
Tag: JP Morgan Chase
JPMorgan Chase dominates AI research in banking
JPMorgan CEO Jamie Dimon Says AI ‘Is Real’ and Will Eliminate the 5-Day Work Week. Here’s How His Company’s Going All In.
“’Your children are going to live to 100 and not have cancer because of technology,’ Dimon told the outlet. ‘And literally, they’ll probably be working three-and-a-half days a week.’ New research from Stanford and MITsupports the productivity spike: A study that is believed to be the first significant real-world application of generative AI in the…
The A.I. Revolution Is Coming. But Not as Fast as Some People Think.
“In a recent report, the McKinsey Global Institute, the research arm of the consulting firm, included a timeline for the widespread adoption of generative A.I. applications. It assumed steady improvement in currently known technology, but not future breakthroughs. Its forecast for mainstream adoption was neither short nor precise, a range of eight to 27 years.”…
American banks dominate AI transformation race
“‘Maintaining a ‘wait and see’ approach to AI innovation looks increasingly risky given the pace at which the leaders are accelerating away from the rest of the field,’ Annabel Ayles, co-founder and COO of Evident, said by email. ‘While AI innovation comes at a cost, it is cheap if measured as the cost for survival,’…