“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…
Tag: JP Morgan Chase
Where Will JPMorgan Chase Be in 5 Years?
“According to Dimon, JPMorgan believes AI will be able to help the bank say “yes” to more mortgages and loans to customers that may have traditionally had difficulty getting approved, especially in minority or underprivileged communities.” MAGE SOURCE: GETTY IMAGES. https://www.google.com/amp/s/www.fool.com/amp/investing/2019/08/27/where-will-jpmorgan-chase-be-in-5-years.aspx
Jamie Dimon and Chase are all-in on AI
If you’re involved in financial services you’re likely familiar with the name Jamie Dimon. If not, he’s the Chairman and CEO of JP Morgan Chase, and arguably one of the most influential leaders worldwide. A quick Google search will return references to “America’s Most Important Banker,” “Savior of Wall Street.” “Last CEO Standing.” With that…
The Growing Impact of AI in Financial Services: Six Examples
“1. AI and Credit Decisions Automobile lending companies in the U.S. have reported success with AI for their needs as well. For example, this report shows that bringing AI on board cut losses by 23% annually. 2. AI and Risk Management A US leasing company, Crest Financial, employed artificial intelligence on the Amazon Web Services…
What’s Behind JPMorgan Chase’s Big Bet on Artificial Intelligence?
“When America’s biggest bank, JPMorgan Chase, hired Apoorv Saxena in August 2018 as its global head of AI and machine-learning services based in San Mateo, Calif., finance industry watchers saw that as a sign that the bank was making a big bet on artificial intelligence to shape its future strategies. Saxena previously headed product management…