JPMorgan Says AI Technology Is Starting to Generate Revenue
- Bank has hundreds of projects ‘close to coming to fruition’
- Headcount won’t necessarily be cut by AI, Heitsenrether says
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JPMorgan Chase & Co. said artificial intelligence tools are starting to generate revenue for the bank, with future advances in AI likely to produce even more benefits.
“In addition to efficiency and potential cost avoidance, we are seeing revenue-generating activity, and that’s really encouraging,” Teresa Heitsenrether, the bank’s chief data and analytics officer, said at the Evident AI Symposium on Wednesday.