JPMorgan Chase staff are getting a new AI assistant — powered by OpenAI “JPMorgan Chase has introduced a new artificial intelligence assistant to help its employees with daily tasks, including drafting emails and reports. More than 60,000 employees, or about one-fifth of JPMorgan’s total headcount, already have access to LLM Suite, according to CNBC.” Read more >>…
Tag: ML
AI Weekly Spotlight – Aug 18
Fintechs ramp up lobbying over earned wage access, crypto, AI “Neobank Chime spent $1.05 million, nearly matching its total for 2022. PayPal spent more than $800,000, higher than the same time period during every prior year. And Block, which spent just under $1 million, hit its biggest six-month lobbying expenditure to date.” Read more >> AI in banking:…
US Bank has used AI for fraud detection
“US Bank has used AI for fraud detection as well as brand campaigns, but CMO Michael Lacorazza says the potential of the technology is yet to be fully understood” https://dai.ly/x90xvu2
To centralize or not to centralize: generative AI in banking (McKinsey & Company)
“The right operating model should both enable scaling and align with the company’s organizational structure and culture, but how centralized should it be? For several reasons, McKinsey’s Kevin Buehler, Larry Lerner, and coauthors say that a high degree of centralization is best: ‘About 70 percent of banks and other institutions with highly centralized gen AI operating models have progressed…
Apple Intelligence unveiled — all the new AI features coming to iOS 18, iPadOS 18 and macOS Sequoia
“Apple has unveiled Apple Intelligence, its take on generative AI, at WWDC 2024. Described as a form of “personal intelligence,” it “makes your most personal products more useful and delightful,” according to Tim Cook.” https://www.tomsguide.com/ai/apple-intelligence-unveiled-all-the-new-ai-features-coming-to-ios-18-ipados-18-and-macos-sequoia